February 12, 1915. THE COLLIERY GUARDIAN 349 Bordeaux, 2,400, 21 fr.; 2,900,. 21 fr.; 3,700, 20 fr., two voyages, first commencing March; Bizerta, 6,700, 30 fr., 1,500; Barcelona, 1,500, 29s.; Caen, 1,250, 15 s. 6d.; 1,200, 15s.; 1,500, 14s. 6d., free brokerage; 1,200, 14s. 9d.; Catania, 3,200, 31s.; Oolas'tine, 3,200, 28s. 6d., Is. 3d., Feb. 25-March 15; Diego Suarez, 38s., Feb.; Djibouti, 31s. 3d., March; Gibraltar, 1,550, 22s., fast as can; 2 250, fast as can, Feb.; 2,700, 21s. 6d., 500; 3,200, 17s., net, Feb. 16; Genoa, 3,100, 31s. 9d.; 2,100, 31s. 9d.; 3,300 31s.; 5,600, 31s., 500, 6|d.; 3,200, 31s. 6d.; Havre, 1,200, 14s. 6d.; 1,200, 14s. 9d., Feb. 19; Honfleur, 1,650, 16s. 6d.; 1.800, 15s. fid.; Lisbon, 1,300, 19s. 9d., 350; 3,200, 19s. 9d., 500; Leghorn; 4,200, 30s. fid., 500, 6|d., Feb. 14; 5,800, 30s., 800, lOd.; 5,000, 31s., 500, 10d., Feb. 16; 3,000, 31s. 6d., 500; 4,800, 31s., 500, 6^d.; La Pallice, 1,900, 19 fr.; Las Palmas, 2,700-3,000, 22s.; Marseilles, 3,000, 30 fr.; 5,300, 30 fr.; Messina, 3,200, 31s.; Monte Video, 4.5U0, 25s., March; 4,000, 25s.; 5,000, 25s.; Naples, 5,800, 30s., 800, lOd.; 3,000, 31s., 800; 5,000, 29s., 800; 4,200, 30s. fid., 500, 6Jd., Feb. 14; Nantes, 2,400, 20| fr.; 1,600, 21 fr., 500; Oporto, 1,000, 25s.; Palermo, 3,200, 31s.; 5.800, 30s., 800, lOd. ; Port Augusta, 5,200, 30s. 6d., 600, 30s. 9d., 500; Rouen, 1,250, 16s. 6d., Feb.; 1,100, 16s.; River Plate, 4,500, 26s., March 1-25; 4,500,. 26s. 3d.; 5,000, 25s., March; Rio de Janeiro, 28s., 500; Reggio, 2.800, 31s. 10|d., 350; St. Malo, 750, 12s. 6d.; St. Nazaire, 2.200, 21 fr., Feb.; 1,850, 20 fr.; 3,800, 20 fr.; 3,300, 20 fr.; 2,800, 191 fr., Feb. 15. gaVona, 3,200, 31s. 6d.; 5,600, 31s., 500, 6|d.; 5,200, 30s. fid.; 4,200, 30s. 6d., 800, lOd.; Seville, 1.200, 22s.; Salerno, 1,900, 32s., Feb. 16; Sables, 1,200, 20 fr.; Spezzia, 3,200, 31s. 6d.; 5,600, 31s., 500, 6Jd.; 5.200, 30s. 6d.; 4,200, 30s. 6d., 800, lOd.; Santa Fe, 3,200, 28s. fid., Is. 3d., Feb. 25-March 15; Torre Annunziata, 5,000, 29s., 800; Venice, 3,600, 37s. 6d., 500; 4,000, 40s., Feb. 20, including war risks. Swansea to Rouen, 1,200, 16s. 6d.; 1,700, 16s. 6d.; 2,600, 16s.; Nantes, 1,800, 22 fr.; Trouville, 800, 15s.; Havre, 750, 15s.; St. Brieux, 670, 16s. coal, 16s. 6d. fuel; St. Malo, 670, 12s. fid. coal, 13s. fuel; Chantenay, 1,800, 21 fr.; Calais, 900, 16s.; Dieppe, 850, 15s. 6d.; Havre, 950, 15s.; Honfleur, 900, 15s. 4Jd.; Caen, 800, 15s. 3d.; any accessible port between Brest and Calais, 1,100, 13s., option Rouen, 14s., consecutive vovages over 12 months; Belfast, 450, 7s. 6d. Newport to Rouen, 3,700, 16s., Feb.; 17s. 6d.; 2,400, 16s.; Caen, 1,540, 14s., free brokerage; St. Nazaire, 2,800, 201 fr.; Lisbon, 1,800, 20s., 500, Feb. 13; Gibraltar, 2,250, fast as can, Feb.; 2,000, 21s. 6d., 500; La Pallice, 1,800, 20 fr., Feb. 15; Havre, 750, 15s.; St. Brieux, 700, 16s.; Bordeaux, 2,450, 21 fr. ; 2,900, 20fr.; Seville, 1,200, 22s.; Marseilles, 6,800, 28 fr., 600; Nantes, 2,400, 20|fr.; 1,700, 204 fr. Port Talbot to Rouen, 2,600, 16s.; 1,600, 16s. 3d.; 1,600, 16s. 6d.; 1,400, 16s.; St. Nazaire, 2,800, 20J fr.; La Pallice, 1,900, 19 fr.; Genoa, 4,000, 31s.; Nantes, 2,200, 20J fr.; 2,000, 20 fr. Thames to Buenos Ayres, sail, 20s., cement. Wear to Genoa, 4,300, 37s.; Savona, 4,300, 37s.; River Plate, 3,000, 26s. 6d. Goole to Dieppe, 800, 17s. 6d. Hull to Rouen, 2,300, 19s. 3d.; Calais, 5,000, 18s.; 2,100, 18s. fid.; 6,500, 18s.; Copenhagen, 1,300, 18s. Glasgow to Bordeaux, 23J fr.; Bayonne, 25 fr.; 3,000, 24 fr. Newport River to Algiers, 3,800, 30|fr. Wales to Buenos Ayres, sail, 20s. Exports and Imports of Coal Tar Products.—The follow- ing shows the values of coal tar products imported into the United Kingdom during January :— January. 1913^ 1914. 1915. Alizarine and anthracene dye £ £ £ stuffs...................... 18,758 ... 16,784 ... — Aniline and naphthalene dye stuffs........ 119,933 ... 113,491 ... 42,904 Synthetic indigo.......................... 4,332 ... 6,001 ... 172 Other coal tar dye stuffs..... — ... 52 ... — The quantity of aniline and naphthalene dye stuffs imported in January was 5,431 cwt., as against 20,602 cwt. in January 1914. The values of the coal products exported in January were as follow :— January. 1913. 1914. 1915. Coal products, not dyes— £ £ £ Aniline oil and toluidine ...... 3,032 .. . 2,122 .. . 5,132 Anthracene 390 .. — — Benzol and toluol 27,320 .. 28,915 ” 8,243 Carbolic acid 16,163 .. . 11,055 .. . 16,070 Coal tar, crude 1,470 .. 842 .. 156 ,, refined and varnish 5,534 .. . 4,091 .. . 4,339 Naphtha 2,015 .. .. 3,001 .. . 1,450 Naphthalene 2,866 .. 2,181 .. . 3,947 Pitch 136,312 .. .. 132.960 .. . 31,791 Tar oil, creosote, &c 77,507 .. .. 51'768 .. . 19,284 Other sorts 32,991 .. .. 40,378 .. . 24,777 Total 305,600 .. . 277,316 .. . 115,189 Coal tar dye stuffs 16,000 .. . 15,324 .. 5,577 The following quantities of the above products were exported in January :—Coal products, not dyes : Aniline oil and toluidine, 143,0731b.; benzol and toluol, 151,831 galls.; carbolic acid, 8,298 cwt.; coal tar, crude, 910 cwt.; ditto, refined, and varnish, 226,763 galls.; naphtha, 25,261 galls.; naphthalene, 10,502 cwt.; pitch, 413,310 cwt.; tar oil, creosote, etc., 1,102,255 galls.; other sorts, 45,490 cwt.; coal tar dye stuffs, 1,071 cwt. Exports of sulphate of ammonia were as follow :— January. 1913. 1914. 1915.' To— Tons. Tons. Tons. Germany 4,259 .. . 20,321 .. — France 19,197 .. .. 8,683 .. 1,472 Spain and Canaries 107,585 .. .. 58,919 .. . 58,013 Italy 10,483 .. .. 4,427 .. . 13,843 Dutch East Indies 19,980 .. . 10,324 .. . 107,875 Japan .’ 104,682 .. . 169,288 .. . 5,165 United States of America British West India Islands 61,186 .. . 103,054 .. . 34,360 (inluding Bahamas) and British Guiana 18,554 .. . 15,074 .. . 13,318 Other countries 100,896 .. . 54,560 .. . 107,566 Total 446,822 .. .. 444,650 .. .. 341,612 The following were the quantities exported in January :— France, 137 tons; Spain and Canaries, 4,981 tons; Italy, 1,185 tons; Dutch East Indies, 9,371 tons; Japan, 457 tons; United States of America, 3,115 tons; British West Indies, 1,058 tons; other countries, 9,195 tons—making a 'total of 29,499 tons. COAL, IRON AND ENGINEERING COMPANIES. REPORTS AND DIVIDENDS. Bede Metal and Chemical Company Limited. — The directors in their report fox the year ended December 31 last, state that the profit for the year, after allowing for general management expenses and income-tax, and including interest on deposits, amounts to £7,580 7s. 2d. To this must be added the amount brought forward from last year, after payment of directors’ fees, £11,867 5s. Id., leaving an avail- able balance of £19,447 12s. 3d. .The directors recommend that this amount be appropriated as under :—Interim divi- dend of 5 per cent, paid August, £5,728; final dividend of 5 per cent, (making 10 per cent, for the year, free of tax), £5,728; balance to be carried forward and for directors’ fees, £7,991 12s. 3d. Bessemer (Henry) and Company Limited.—The directors, in their report upon the operations of the past year, state that the net profit is £35,826 10s. 8d., and the balance-sheet shows that at December 31 last there was a balance of £88,228 19s’. 6d. The directors recommend the following allocations :—To write off for depreciation of the plant and machinery, £10,000; reserve fund, £20,000; dividend on the preference shares for the second half-year at 5 per cent, per annum, £2,500; dividend on the ordinary shares of 7J per cent., making, with the payment in July of 2J per cent., 10 per cent, for the year, £15,000, leaving a balance of £40,728 19s. 6d. to be carried forward to next year’s account. Briggs (Henry) Son and Company Limited.—The directors have declared an interim dividend of 5 per cent. (15s. per share on the “A” shares, and 10s. per share on the “ B ” shares), free of tax. Bristol and South Wales Railway Wagon Company Limited.—Including £1,611 6s. lid. brought forward, the net profit for the year ending December 31, 1914, is £19,597 5s. lOd. Out of this an interim dividend at the rate of 10 per cent, per annum was paiid on August 10 last, £7,500, and the directors have carried to the contingent fund £3,000, leaving a disposable balance of £9,097 5s. lOd. From this sum the directors 'recommend the payment of a further dividend at the rate of 10 per cent, per annum, making 10 per cent, for the year, less income tax, £7,500, leaving a balance to be carried forward of £1,597 5s. lOd. The contingent fund now stands at £63,000. Consolidated Cambrian Limited.—The directors recom- mend a dividend of 10 per cent, on the ordinary shares for the year 1914. Dalmellington Iron Company Limited. — The directors have declared an interim dividend on the ordinary shares of 2s. 6d. per share, free of income-tax. Fife Coal Company Limited.—The directors recommend a final dividend of 5 per cent, on the ordinary shares, free of tax, making a total distribution for the year ended December 31 last, of 10 per cent. The return for 1913 was 27£ per cent. Fox (Samuel) and Company Limited.—The directors have declared an interim dividend for the six months ended December 31 last of 6d. per share, being at the rate of 6 per cent, per annum, less tax. Guest, Keen and Nettlefolds Limited.—The directors have declared an interim dividend for the six months ended Decembex 1914 at the rate of 10 per cent, per annum on the ordinary shares, free of income-tax. Hill (Richard) and Company (1899) Limited. — The directors announce an interim dividend st lhe rate of 5 per cent, per annum (6d. per share), less income-tax, on the ordinary shares for the past half-year. Knowles (Andrew) and Sons Limited.—The balance-sheet shows a net profit for the year ending December 31, 1914, of £18,329 10s. 7d. The directors propose to transfer £5,000 from reserve account, which, with the amount brought for- ward from last account, makes an available balance of £24,452 4s. 5d. Of this balance, the interim dividend paid on August 1 last absorbed £15,000. They now propose to pay a further dividend, making 4 per cent, for the year, £9,000, and to carry to next account £452 4s. 5d. The outbreak of the wair very seriously affected the trading results for the latter half of the year. More than 750 of the company’s workmen having joined the King’s forces, the output was considerably reduced, and the profit from the collieries consequently much curtailed. The company’s debentures became due for repayment on December 31, when bonds for £75,000 were paid off, and the remaining £75,000 renewed for two years, the rate of interest being increased from 4 to 5 per cent, per annum. Since the outbreak of war the company has contributed the sum of £1,416 14s. 2d. towards the support of the families of their workmen who have joined the King’s forces ; it has also assisted the Belgian refugees and Red Cross societies to the extent of £20 7s. lid. The directors propose to continue the assistance to the soldiers’ families, and also, as usual, to set aside the sum of £100 for charitable purposes. Lanarkshire Steel Company Limited. — The net profits, including £5,109 brought forward, amounted to £33,253 for the past year. The directors recommend that £10,000 be appropriated for depreciation, and that the usual dividends be paid on the preference shares, leaving £9,174 to be carried forward. Leeds Forge Company Limited.—The trading profits of the Leeds Forge Company Limited for the past year were £60,554, and £19,591 was brought forward. Debenture interest absorbs £6,916, and directors’ fees £2,500. A divi- dend of 10 per cent., free of income-tax, is proposed on the ordinary shares, writing £30,000 off plant, and carrying forward £15,277. National Gas Engine Company Limited.—The report for the year ended December 31 last, states that the net profit for the year, after providing for depreciation, etc., is £62,257. An interim dividend for the six months to June 30, amount- ing to £28,500, being at the rate of 5 per cent, per annum on the preference shares, and 7J per cent, per annum on the ordinary shares, was paid on July 31, 1914, leaving a balance of £33,756, which, added to £11,903 brought for- ward, makes a total of £45,660 to be dealt with. The directors recommend a final dividend at the rate of 5 per cent, per annum on the preference shares, and 7-J- per cent, per annum on the ordinary shares, both less income-tax, for the six months ended December 31, 1914. This will absorb £28,500, and leave £17,159, which the directors propose to carry forward. New Sharlston Collieries Company Limited.—The directors recommend a final dividend of 5s. per share, making 10s. per share (2J per cent.), free of income-tax, for the past year. North Central Wagon Company Limited.—Warrants for interim dividend in respect of the half-year ending December 31 last, at the rate of 13 per cent, per annum, less tax, have been posted. Parsons Marine Steam Turbine Company Limited.—The directors announce an interim dividend of 12 per cent, actual. Powell Duffryn Steam Coal Company Limited. — The directors recommend the shareholders at the annual general meeting to be held on March 2 next to declare the follow- ing dividends for the half-year ending December 31, 1914, viz. :—(1) 10 per cent, on 1,572,657 ordinary shares (fully paid) and on 103,126 ordinary shares (partly paid) upon the amounts paid up thereon in respect of capital (free of income- tax) ; (2) at the rate of 6 per cent, per annum upon the preference shares (Hess income-tax). South Staffordshire Mond Gas Power and Heating Com- pany Limited.—The report for 1914 states that the profit on revenue account was £13,649, or £2,397 more than for the previous year. Unfortunately the price of sulphate of ammonia was low 'throughout the year. Since the outbreak of the war shipments have been very restricted, and special arrangements also had -to be made for the disposal of the tar. The gross profit was £13,649 (against £11,252), and it is proposed to pay (less tax) 6 per cent, on the preference shares, and to carry forward £4,032. In view of the diffi- culties as to fuel supplies, and also taking into consideration the general conditions now prevailing, the board recom- mend that no dividend be declared on the ordinary shares. A year ago 2s. 6d. per share was paid. South Wales Colliery Company Limited.—The directors state that the payment by the lessees of the colliery rent of £5,000 for the half-year ended December 31 last became due on January 21. The payment of the annual sum of £3,000 on account of the guarantee fund, due July 21 last, has been satisfied by the presentation of 120 “A” shares (which have been cancelled, and a corresponding number of deferred “A” shares issued in exchange), and by the pay- ment of the balance in cash. The profit for the year ending December 31, 1914, amounts to £10,001, add brought for- ward, as per directors’ report, 1913, £1,161, making a total of £11,162. Deduct interim dividend paid on August 1, 1914, for the half-year ended June 30 last at the rate of 14 per cent, per annum on the “ B ” and new “ B ” shares, and 4 per cent, per annum on the “A” and deferred “A” shares. The directors recommend dividends for the half- year ended December 31, 1914, on the “ B ” and new “ B ” shares at the rate of 10 per cent, per annum. Final dis- tribution of surplus profits at the rate of 4 per cent, per annum for the half-year, divided ratably between the “A,” deferred “A,” “ B,” and new “ B ” shares, £3,368 14s. 4d., making, with the interim dividends, a total distribution of 14 per cent, on the “ B ” and new “ B ” shares, and of 4 per cent, on the “A” and deferred “A” shares, and leaving a balance to be carried forward to next year of £1,181 5s. 2d. United Collieries Limited.—The half-year’s interest on first debentures “ B,” which fell due on October 1, 1914, will be paid on and after February 15. Watson (John) Limited. — The profit for the year to December 31 last amounts to £51,394 8s., which, with the balance from last year of £33,970 10s. 5d., makes a total of £85,364 18s. 5d. From this falls to be d'educted interim dividend paid on ordinary shares, leaving £77,864 18s. 5d. The directors have written off for depreciation £10,000, and they recommend that the balance should be appropriated as follows :—To directors’ fees, £2,000; to balance dividend of Is. fid. per share on the ordinary shares (making, together with the interim dividend already paid, 10 per cent, for the year), and also a bonus of Is. per share, both payable under deduction of income-tax, £37,500; leaving to be carried for- ward to next year £28,364 18s. 5d. Wigan Coal and Iron Company Limited.—The accounts for the year 1914 show a profit on the whole operations of the company of £44,829 (against £138,118), and there has been brought' forward £58,445, making a total of £103,274. In consequence of the outbreak of hostilities, no interim dividend was paid in August last. The directors recom- mend a dividend of £3 per cent., free of tax, for the year, absorbing £54,291, leaving to be carried forward £48,982. Yorkshire Electric Power Company Limited.—Net profit for the past year was £20,534, compared with £15,401 a year ago. The disposable balance, after deducting interim divi- dends, is £17,778, and the directors recommend for the half- year ended December 31 a dividend at the rate of 6 per cent, per annum on the cumulative preference shares, write off £2,250, the bonus upon the second mortgages, transfer £7,500 Ito general reserve, and carry £3,049 forward. NEW COMPANIES. D. C. M. Manufacturing Company Limited.—Private com- pany. Registered February 1. General engineers, etc. Nominal capital, £500 in £1 shares. Subscribers (one share each) :—H. H. Daw, 4, Elm-court, Temple, E.C., barrister- at-law; H. W. Davies, 34-35, Norfoflk-street, Strand, W.C., solicitor; L. G. Godfrey, 77, Norfolk House-road, Streatham, S.W., accountant. Doe (Charles E.) and Company Limited.—Private com- pany. Registered office, 199, Longley-road, Tooting, S.W. Registered February 1. Coal merchants, factors, agents, hauliers, furniture removers, and cartage contractors. Nominal capital, £2,000 in £1 shares. Directors and sub- scribers (one share each) :—C. E. Doe, 199, Longley-road, Tooting, S.W., coal merchant; C. H. Denny, 767, Garratt- lane, Tooting, S.W., coal merchant. Hatherton Works Company Limited.—Private company. Registered office, 23, Hatherton-street, Walsall. Regis- tered February 4. Iron, steel, brass, aluminium, and other metal founders, engineers, machinists, tool makers, workers in metal, wood, and leather. Nominal capital, £4,000 in £1"shares. Directors and subscribers (one share each) :— J. Baker and J. Bailey, both of 57, Harden-road, Leamore, Walsall, ironfounders. Hunslet Steel Foundry Company Limited.—Private com- pany. Registered office, Nook - street, Hillidge - road, Hunslet, Leeds. Registered February 4. Crucible steel eastings .manufacturers and forgers, ironfounders, smelters, and dealers in all kinds of iron and steel, manufacturers of engines, boilers, etc. Nominal capital, £500 in £1 shares. Directors and subscribers (one share each) :—J. Archer, 105, West-street, Holbeck, Leeds, steel moulder; H. J. Higgin- bottom, 69, Burley-street, Leeds, steel melter; H. Higginbottom, 69, Burley-street, Leeds, crucible maker; W. Higginbottom, 69, Burley-street, Leeds, clerk; Arthur Archer, 105, Sweet-street, Holbeck, Leeds, greengrocer. Qualification of directors, £50. Ridgacre Foundry Company Limited.—Private company. Registered office, Ridgacre Foundry, Church-lane, West Bromwich. Registered February 1. To acquire and carry