March 12, 1915. THE COLLIERY GUARDIAN. 561 EXPORTS OF COAL, COKE, AHO HAHUFACTURED FUEL FROH THE UHITED KIHCDOES During February and the First Two Completed Months of 1913, 1914 and 1915. To February, 1915. February. Coal—Small. Coal—Through- and-through (unscreened). Coal—Large AH coal. Quantity (tons). All coal. Value (£). Tons. £ Tons. £ Tons. . £ 1913. ■ | 1914. 1915 1913. 1914 1915 Russia 107,742 138,417 76 178 QO Sweden 50,322 . 27,998 26,739 16,318 160,242 110,182 299 751 220'389 237 303 1 70 I 117 9^A Norway : 54,'690 ' 27,803 15,870 9,829 115*142 74'910 ; 224,496 244,198 iJO < ,'JvO 185,702 X i/V, (Vi 139,160 147,466 112,542 Denmark 72,186 42,449 55,577 32,713 110,580 74,362 270,765 202,057 238,343 174,192 129,250 149,524 Germany ■ — ! 594,211 584,564 339 285 353 166 Netherlands 21,896 12,770 86,029 50,540 29,309 19,690 186,*459 139,'634 137,234 114,983 Oud, IvO 84,300 83,000 Belgium — — — — — — 196,767 172 828 -— 111,852 101,633 France 535,353 326,560 291,485 173,450 433 239 350,064 1,004 941 1 320 767 1 260 077 616 457 Q JK Al A oka i Portugal, Azores, and Madeira ... 24,581 13,627 17,919 11,273 69,662 59^729 ’138*746 98,217 112,162 94,081 71.777 84,629 Spain and Canaries 35,025 21,606 85,725 51,502 102.555 93,900 343,732 293,684 223,305 242,904 209,486 170,008 Italy 103,155 54,015 162,222 96,090 309,767 270,285 765,695 865,145 575 144 531 903 629 311 J on QQA Austria- Hungary , 14L032 81,’904 99,707 u 4 v , D 1. L 57,718 Greece 3,507 2,303 . 13,012 7,796, . 23,937 18,519 59,406 80,171 40,456 40,419 57,029 28,618 Roumania ' ‘ —— 3,049 2 664 Turkey — -— — — — — 9,186 63,075 — 8',003 47,037 Algeria 19,726 12,499 35,402 21,494 22,299 18,515 131,871 85,052 77,427 87,715 57 231 Portuguese West Africa 9,366 6,096 22,104 20.012 ! 37,045 23*138 31*470 32,’731 20*406 'j£,O'JC> 26,108 Chile — — — — 4,065 3,760 28,863 46,638 4,065 24,733 36,896 3,760 Brazil 507 361 — — 45,897 41,351 150,448 162,795 46,404 129,511 144,358 41,712 Uruguay 1,495 561 — — 34,118 29,685 50,568 64,302 35,613 42,688 ’ 58,356 30,246 Argentine Republic 13,332 11,396 4,305 2,834 173,067 152,088 ■ 309,334 326,176 190,704 258,111 288,790 166,318 Channel Islands 1,016 689 2.169 1,374 6,576 5,331 10,542 12,759 9,761 7,809 9 329 7 QCM Gibraltar ... ;.. 9,717 6,126 14,185 8,173 16,117 13,989 26'551 19'868 40*019 18*480 13'723 i OQ OQQ Malta .... 3,921 2,404 7,432 6,443 85,628 44,135 11*353 63,718 31904 Zic>,4oo Egypt (including Anglo-Egyptian Sudan) ’ 7,426 5,332 11,876 7,092 101,763 87,302 242,595 265,097 121J'65 182’,998 199',421 99,726 A den and Dependencies .. . — — -. 11,841 10,108 16,483 11,481 11,841 13,861 9,759 10,108 British India 355 278 — — — 26,540 19,845 365 21,519 17,093 278 Ceylon _— — — — , 9,022 9/22 13,678 26 206 9,022 11,026 23,153 9 022 Other countries 5,662 4,235 4,409 2,402 20,584 17,790 90,793 113,335 30,655 72,019 95,'443 21*427 Anthracite 81,990 82,514 1,036 ; 544 80,965 78,644 187,057 250,217 163.991 148,311 210.044 161,702 Steam 765,617 424,954 262,303 159,865 1,626,803 1,322,027 4,046,314 4,186,768 2,654,723 2,807,408 2,953,498 1,906,846 Totals Gas . 40,483 23,793 515,754 306,693 36,693 25,363 875,335 883,070 592,930 513,323 559,934 355,849 H ousehold 8,626 6,441 — — 82,451 59,219 147,861 125,648 91,077 94,932 84,463 65,690 Other sorts 67,166 38,310 57,197 31,874 2,406 1,754 313,350 280,174 126,769 193,509 170,950 71*938 Total 963,882 576,012 836,290 498,976 1,829,318 1,487,037 5,569,917 5,725,877 3,629,490 3,757,483 3,978,889 2,562,025 Total (February 1914 1,339,154 723,876 1,195,996 743,600 3,190.727 2,511,413 Total (February 1913 1,306,334 729,568 1,202,628 713,800 3,060,955 2,314,115 — — — — — — Coke ■ ‘ 98,755 94,595 74,296 92 935 79.757 57.795 Manufactured fuel — — — — — — 154,253 154,136 81,108 131.694 135 162 67,025 Total of coal, coke & manufactured fuel - — — — — 5,822,925 5,974,608 3,784,394 3,982,112 4,193,808 2,686 845 First two months. First two months of 1915. Anthracite Steam Totals G as Household Other sorts Total Total for tivo months of 1914 Total for two months of 1913 Coke Manufactured fuel Total of coal, coke & manufactured fuel 179,068 1,516,554 83,404 21,575 113,970 166,405 810,993 46,992 15,369 63,876 1,036 483,862 1,022,102 103,835 -544 295,570 603,758 57,592 180,890 3,307,994 7-7,501 148,158 2,504 172,793 2,622,150 57,100 104,964 1,845 485,365 8,164,307 1,776,699 293,587 620,277 520,088 8,418,119 1,768,783 - 257,362 556,265 360,994 5,308,410 1,183,007 169,733 220,309 393,008 5,841,474 . 1,035,734 186,875 334,325 428,577 5,942,762 1,133,695 173,480 340,426 339,742 3,728,713 707,850 . 120,333 123,313 1,914,571 2,707,413 2,706,048 1,103,635 1,464,106 1,504,739 1,610,835 2,390,702 2,432,934 957,464 1,504,259 1,431,936 3,717,047 6,422,532. 6,501,253 2,958,852 .5,050,575 . 4,904,741 11,649,235 205,850 350,992 11,520,647 218,851 324,081 7,242,453 166,893 145,146 . 7,841,416 194,657 290,342 8,018,940 187,191 283,370 5,019,951 126,350 120,806 — - — — — — 12,197,077 12,063,579 7,554,492 8,326,415 8,489,501 5 267,107 tionally difficult circumstances, had resulted in a substantial improvement in the position of the company. The outbreak of war in August brought business to almost' a standstill, but the company’s trading had gradually returned to a more normal state, and an increase in home business had been secured, which was more than sufficient to offset a large reduction in the foxeign business. The trading balance carried forward, after making full provision for the special items referred to in the accounts, was not only larger in itself than last year, but slightly larger in ratio to the premium income. The chairman said the cost of termi- nating their foreign business was placed at £12,525 6s. lid., which was a large amount to have to provide out of one year’s trading surplus, but there was no doubt that the company’s position had been strengthened by their action. Home fire business had improved in volume, and loss experi- ence was quite normal. The loss of profits business had also been < satisfactory, and the re-arrangement made two years ago had borne fruit, and the loss-ratio on this business had fallen to something approaching normal expectations. The accident department, re-arrangements in which had been amply justified, continued to give profitable results, and the growth of the department was steady and satis- factory. An important point in connection with the Work- men’s. Compensation Act, particularly in view of the reputation enjoyed by the company for prompt settlement and early commutation of all claims involving continuing weekly payments, was with regard to outstanding claims. There was now only one claim outstanding, - which had arisen in the year 1912, and only seven arising in 1913. None of these claims presented any special difficulties, and ample provision had been made for them. If the progress in the volume of home business continued during the year, as they had every reason to believe it would, they might look confidently forward to a still lower expense ratio in the future. Concluding, the chairman remarked that fully 25 per cent, of the male staff were now serving in various branches of the Navy and Army, and with the increase of business, this had thrown a considerable amount of extra work upon the remaining staff. He. moved the adoption of the report and accounts, which was seconded by Mr; John S. Follet, J.P.,. deputy-chairman. The following were re-elected members of the directorate : Messrs. Arthur H. Marshall, M.P., Edward Harrow Ryde, H. A. Saunders, and Francis J. Weld; while the auditors were re-elected. A vote of thanks to the chairman was proposed by Six- Harold Elverston, M.P., who referred to Mr. Beale’s keen interest in the welfare of the company. He thought the management of the company was to be congratulated on the low expenses ratio, which those who knew about insurance would be able to say was within a few points of the level of companies which had been in existence 50 to 100 years. The vote was heartily accorded. Lincoln Wagon and Engine Company Limited.—The report for the year ended February 1 states that the profit, including the sum brought forward, is £29,367. The directors recommend a dividend of £7 10s. per cent., making £14 per cent, for the year, free of tax, place to reserve fund £9,000, and carry forward £7,767. The reserve fund will amount to £144,000. Pearson and Knowles Coal and Iron Company Limited.— While the general outlook is satisfactory, and the demand for the company’s productions is well maintained, in view of the abnormal conditions arising from the war, and particularly having regard to uncertainties connected with the supplies of labour and - material, the directors have decided not to declare an interim dividend upon the ordinary shares, but to postpone the consideration of - the question until finally dealt with at the end of the company’s financial year. The dividends on the preference and second prefer- ence shares will be paid as usual on March 29. Ransomes, Sims and Jefferies Limited.—The report for 1914 states that the balance of profit is £25,926, and the balance from account for 1913 £16,831. . The directors recommend a dividend on the ordinary shares of 24 per cent, per annum, free of inc'ome-tax, leaving £23,525 to be carried forward. Steel Developments Limited. — The report for the year ended last December states that, with £587 2s. 2d. brought forward, the profit was £17,812 5s. 2d. After allowing for interim dividend, etc., there is a balance of £13,698 15s. Id., and the directors propose a final dividend for the half-year ended December at the rate of 10 per cent, per annum, free of tax (making 10 per cent, for the year), to depreciation £5,000, to reserve £4,000, and carry forward £654'2s. 6d. Stewarts and Lloyds Limited. — The directors have declared a final dividend of 2s. per share on the deferred shares, making 2s. 6d. per share for the year. They also recommend that £200,000 be placed to the reserve fund, and £97,000 carried forward. Swan, Hunter and Wigham Richardson Limited.—The directors, in submitting the balance-sheet of the company as on December 31 last, state that, after providing for depreciation, etc., there remains a net profit oxi the year’s trading of £234,091 Os. 4d., to which has to be added the balance brought, forward from the previous year, £32,261 18s., making a total of £266,352 18s. 4d. Out of this sum it is necessary to provide interest on 4{ per cent, first mortgage debenture stock for the year ending December 31, 1914, £15,593 5s.; instalment for sinking fund account, £1,000; leaving a balance to be dealt with by the shareholders in general meeting of £249,759 13s. 4d., which the directors recommend should be appropriated as under :—(1) Interim dividend at 2J- per cent, on cumulative preference shares, paid August 31, 1914, £18,283 12s. 6d. ; (2) interim dividend at 2| per cent, on ordinary shares, paid August 31, 1914, £21,388 6s.; (3) further dividend at 2J per cent, on cumulative preference shares, making 5 per cent, for the year, £18,496 2s. 6d.,: (4) further dividend at 7J per cent, on ordinary shares, maxing 10 per cent, for the year, £64,164 18s.; (5) transfer to reserve account, £80,000; (6) transfer to insurance reserve account, £10,000; (7) transfer to income-tax account, £5,000; leaving a balance to be carried forward of £32,426 14s. 4d. The company’s works have been efficiently maintained, £45,421 19s. 6d. having been expended during the year out of revenue for that purpose; £36,383 3s. Id. has also been provided out of revenue for depreciation, amortisation, etc., on buildings, plant, machinery, and other- assets, including investments in shipping anti other companies. United National Collieries Limited.—The directors, in their report for 1914, show a net profit of £160,048 2s. lid., brought forward £16,562 10s. 5d., making available £176,610 13s. 4d., after deducting one year’s dividend paid