1320 THE COLLIERY GUARDIAN. June 12, 1914. EXPORTS OF (ML, WE, AM BMOFAOTOTED FOEL FROT THE OTITED OTOTOT During May and the first five months of 1912, 1913 and 191$. To May, 1914. May. Coal—Small. Coal—Through- and-through (unscreened). Coal—Large. All coal. Quantity (tons). All coal. Value (£). Tons. £ Tons. £ Tons. £ 1912. 1913. 1914. 1912. 1913. 1914. Russia 75,043 45,902 25,380 16,024 432,651 307,708 450,584 650,197 533,074 309,808 472,956 369,634 Sweden 84,343 43,234 33,560 21,228 262,647 172,310 371,719 421,843 380,550 216,214 279,512 236,772 Norway... 59,924 27,811 4,404 2,783 150,572 101,160 199,537 193,115 214,900 116,188 125,572 131,754 Denmark 55,016 31,119 59,586 37,356 141,336 95,102 225,958 208,569 255,938 137,279 139,015 163,577 Germany 254,489 133,533 349,207 207,443 208,024 136,423 871,211 830,610- 811,720 455,170 497,260 477,399 Netherlands 63,146 37,391 59,632 36,332 33,466 22,015 198,215 167,613 156,244 104,436 104,141 95,738 Belgium 62,132 30,701 38,741 23,025 44,544 30,214 120,489 143.809 145,417 59,384 83,225 83,940 France 468,988 244,292 251,064 152,897 363,450 277,359 951,316 1,004,259 1,083,502 540,264 644,533 674,548 Portugal, Azores, and Madeira 14,933 8,374 13.216 8,377 54,576 45,407 127,718 97,186 82,725 85,357 76,131 62,158 Spain and Canaries 44,744 26,148 96,553 61,218 110,888 90,801 282,14.2 298,066 252,185 198,541 223,356 178,167 Italy 139,231 63,888 203,959 132,122 505,987 405,033 970,361 708,149 849,177 681,788 525,134 601,043 Austria-Hungary 12.968 7,123 14,136 9,062 46,942 34,143 73,094 75,154 74,046 45,359 49,605 50,328 Greece 8,306 5,347 24,630 14,403 21,819 18,569 79,162 50,984 54,755 51,499 38,614 38,319 Roumania 17,169 10,219 10,246 6,383 28,118 25,357 34,677 25,705 55,533 27,402 19,096 41,959 Turkey 409 506 3,652 2,218 27,755 • 22,289 39,849 10.583 31,816 30,407 9,375 25,013 Egypt (including Anglo-Egyptian Sudan) 27,752 15,719 43,888 28,842 206,685 157,188 282,888 211,235 278,325 203,542 164,410 201,749 Algeria 22,690 12,391 47,487 29,928 55,290 45,066 85,049 95,859 125,467 51,039 70,002 87,385 Portuguese West Africa — —■ — — 2,077 1.791 31,756 12,181 2,077 26,431 11,143 1,791 Chile 1,240 1,779 — — 82,865 63,980 146,845 82,260 84,105 130,545 72,200 65,759 Brazil 707 539 9,911 6,596 93,143 83,371 195,198 120,602 103,761 166,712 109,255 90,506 Uruguay 1,785 1,984 — — 84,229 76,747 75,403 44,122 86,014 63,748 38,395 78,731 Argentine Republic 4,149 5,216 — ' — 287,158 253,199 381,985 251,525 291,307 315,855 211,894 258,415 Channel Islands — — 2,662 1,672 13,270 8,819 18,343 13,071 15,932 13,044 9,586 10,491 Gibraltar 1,591 881 4,061 2,507 5,006 4,131 40,521 27,411 10,658 27 656 21,666 7,519 Malta 2,854 1,551 12,961 8,603 11,347 9,745 42,317 28,888 27,162 27,239 20,917 19,899 Aden and Dependencies... — — — — 16,449 14,803 10,451 18,121 16,449 8,163 15,635 14,803 British India 736 540 — —■ 30,307 26,286 22,095 13,200 31,043 15,130 12,366 26,826 Ceylon 410 442 — — 22,965 19,954 11,347 26,155 23,375 10,078 22,419 20,396 Other countries 21,091 14,422 2,153 1,535 107,830 86,246 i 108,896 99,175 131,074 83,137 81,479 102,203 Anthracite 117,168 80,070 —. 136,697 112,469 196,423 251,117 253,865 153,332 199,530 192,539 1 Steam 1,100,728 558,027 228,473 141,567 3,103,«»42 2,380.487 4,659,433 4,318,911 4,432,243 3,162,285 3,104,198 3,080,081 TotalGas 75,749 42,603 918,231 569,969 102,507 70,772 1,120,763 929,955 1,096,487 608,866 571,709 683,344 Household .. 36,105 22,060 457 257 106,401 69,458 140,711 128,856 142,963 86,819 83,503 , 91,775 L Other sorts 116,096 68,292 163,928 98,761 2,749 2,030 331,706 301,108 232,773 190,083 189,754 169,083 Total 1,445,846 771,052 1,311,089 810,554 3,451,396 2,635,216 6,449,036 5,929,947 6,208,331 4,201,415 4,148,694 4,216,822 Total (May 1913) 1,474,739 873,805 1,208,267 747,662 3,246,941 2,527,227 — — — — — — Total (May 1912) 1,413,031 709,188 1,394,308 762,512 3,641,697 2,729,715 — — — — — — Coke — — — — — 48,765 71,944 75,082 42,360 70,821 61,802 Manufactured fuel — — — — — — 131,446 145,723 186,050 105,237 127,057 163,294 Total of coal, coke & manufactured fuel — —■ — — — 6,629,247 6,147,614 6,469,463 4,349,012 4,346,572 4,441,918 First five months of 1914. First five months. C A nthracite 1 Steam 563,659 377,765 — 590,897 525,390 784,220 1,188,283 1,154,556 621,378 945,837 903,155 5,107,599 2,560,583 1,392,268 860,474 14,482,878 11,252,769 14,791,968 21,636,454 20,982,745 9,646,476 15,248,098 14,673,826 Total-s Gas 282,381 160,412 4,015,817 2,521,361 448,363 312,975 3,326,247 4,523,893 4,746,561 1,749,327 2,705,470 2,994,748 j Household 186,031 115,523 457 257 416,522 283,228 485,599 710,583 603,010 290,946 457,397 399,008 L Other sorts 588,899 353,584 756,044 456,984 20,903 15,246 1,028,645 1,460,607 1,365,846 555,780 904,388 825,814 Total 6,728,569 3,567,867 6,164,586 3,839,076 15,959,563 12,389,608 20,416,769 29,519,825 28,852,718 12,863,907 20,261,190 19,796,551 Total for five months of 1913 6,946,637 3,986,055 6,001,213 3,610,012 16,571,975 12,665,123 — — — — — — Total for five months of 1912 4,519,771 2,193,408 4,296,919 2,275,915 11,599,989 8,394,584 — — — — — Coke .. ••• ••• — — — — 336,969 424,334 444,446 258,185 409,188 385,317 Manufactured fuel — — — — — — 526,634 837,070 852,326 402,008 702,386 742,755 Total of coal, coke & manufactured fuel — — — — — 21,280,282 30,781,229 30,149,490 13,524,100 21,372,764 20,924,623 COAL, IROM AMD EHGIHEERIM COMPANIES. REPORTS AND DIVIDENDS. Carlton Iron Company Limited.—The accounts for the year ended April, after appropriating .£17,266 for interest on debenture bonds and loans and for sundry management charges, show a credit balance of £22,619 (last year £43,619). The loss on capital at the Rosedale Mines, £9,898, and the final loss connected with East Howie Colliery, £583, have been written off, the balance-sheet thus showing a debit balance of profit and loss account of £103,457, as against £115,595 last year. Cory (William) and Son Limited.—The report for the year ended March 31, 1914, states that the net profit, after charging all expenses and cost of maintenance and making ample provision for depreciation, is £313,906, which, together with the balance brought forward of £35,509, makes a total of £349,415. After providing for interest on the 4 per cent, first mortgage debenture stock and the 4J per cent, debentures, there remains a balance of £312,415. The preference dividend for the 12 months and the interim dividend of 4 per cent, on the ordinary shares paid on December 1, 1913, absorb the sum of £88,500, leaving an available balance of £223,915. The directors now recom- mend the payment of a further dividend of 6 per cent, on the ordinary shares, making 10 per cent, for the year, and the payment of a dividend of 10 per cent, per annum on the issued employees’ shares for the three months ended March 31, 1914. These payments absorb £69,260, leaving a balance of £154,655 to be dealt with. Out of this amount the directors recommend that the sum of £71,144 be applied to writing down that part of the company’s investments represented by gilt-edged securities, now standing at £344,336, to at or below market price as at March 31, 1914; they further recommend that the sum of £29,000 be applied to the reserve fund, bringing the total of the company’s reserves to £400,000, and that the sum of £10,000 be set aside for the purposes of staff pensions, leaving a balance of £44,511 to be carried to credit of next year’s account. In accordance with the sale and purchase agreement, the Steamship Owners’ Coal Association Limited have nominated their chairman, Mr. John Duthie, and one of their directors, Mr. James Caird, to the board of the company. Cynon Colliery Company Limited.—The report for the past year shows a trading profit of £1,145, to which has to be added rents and transfer fees £17, making a total credit of £1,162. Against this bank charges and interest, income- tax, debenture interest, directors’ fees, and reserve for bad and doubtful debts amount to £2,744, leaving a loss for the year of £1,581, and reducing the balance on the profit and loss account to £7,939. The directors propose, in view of the closing of the old colliery, to write off the sum of £4,000 from the property and plant account, taking £2,000 from the reserve fund and £2,000 from the profit and loss account, and to carry forward the balance of £5,939. During the year under review there was a succession of labour troubles, and the colliery was idle from April 28, 1913, to March 30, 1914. The purchase of a portion of the steam coal underlying Argoed mountain and the lease of the steam coal under Argoed Earm for £1,700 was completed in January of this year. East Kent Colliery Company Limited.—An extraordinary general meeting of the shareholders was held on Thursday, 4th inst., at Dover, to consider the confirmation of the reso- lution passed at the meeting on May 20, altering the articles of association so as to provide that whenever the capital is divided into different classes of shares the rights and privi- leges attached to each class may be modified by agreement, etc. Mr. Arthur Burr, who presided, said the directors were most anxious to avoid reconstruction, if possible, and it depended largely on the shareholders. A scheme for financing the colliery had been formulated. It was not absolutely binding, but was subject to variation, if those who provided the capital agreed. That scheme would have to be passed at a meeting specially convened to consider it. The resolution was carried by a large majority. Ebbw Vale Steel, Iron and Coal Company Limited.—The balance of profits brought forward from last year was £11,692, and the gross profits for the year amount to £166,873, making £178,565. Current and legal expenses absorbed £10,468, and interest on debentures and calls paid in advance £22,872, leaving an available balance of £145,224. Erom this has to be deducted expenditure on new work, £53,116; interim dividend on preference shares, £9,309; and the directors propose to apply in payment of a final dividend on the preference shares, making 6 per cent, for the year, £11,220, and recommend a dividend upon the ordinary shares at the rate of 10 per cent, for the year, £59,580, leaving a balance to be carried forward of £11,998. Gwaun-Cae-Gurwen Colliery Limited.—The directors have decided to pay an interim of 6d. per share, free of income- tax, on the ordinary shares of £1 each fully paid, and 3d. per share, free of tax, on the ordinary shares of £1 each. Keith (James) and Blackman Company Limited.—After providing debenture interest and making allowance for depreciation and doubtful debts, net profit for year to March 31 last was £24,564, and £3,550 was brought forward. Directors recommend dividend on preference shares at rate of 5| per cent, per annum, £2,00.7; on ordinary at rate of 10 per cent, per annum, free of tax, £7,982; write off addi- tional depreciation, £3,000; off patents and goodwill, £1,878; transfer to reserve, £10,000; forward, £3,247. The con- tinued growth of the business has necessitated further exten- sions at Arbroath works. These will probably be completed by end of August. Kynochs Limited.—The directors have resolved, subject to final audit, to recommend the payment of the following dividends for the year ended March 28 last :—A dividend of 2J per cent, on the preference shares, making, with the interim dividend of 2| per cent, already paid, 5 per cent, for the year; and a dividend of 5 per cent, on the amount paid up on the ordinary shares (both free of income-tax). Millom and Askam Haematite Iron Company Limited.— The directors have decided to pay a dividend on the 7 per cent, cumulative preference shares for the half-year ended March 31 last, and an interim dividend on the ordinary shares of 3J per cent. Monks, Hall and Company Limited.—The 17th annual report for the year ended April 30, states that, including dividends from investments, the net profit for the year amounts to £12,584, making, with £6,432 brought forward,