March 19, 1915.

THE COLLIERY GUARDIAN.

617

COAL, IRON AMD ENGINEERING COMPANIES.

REPORTS AND DIVIDENDS.

Baldwins Limited. — The directors have declared an
interim dividend of 24 per cent., free of income-tax, on the
ordinary shares for the half-year ended December 31 last.

Bedwas Navigation Colliery Limited.—The directors, in
their annual report to December 31, 1914, state that the
adverse balance is represented almost entirely by the amount
of plant required for underground purposes in excess of
expectations. It has been found necessary and advantageous
for the economical working of the seams to introduce coal
conveyors in the faces, and also in one of the seams machine
cutting, which in turn necessitated the provision of another
air compressor and very considerable outlay in pipe mains.
Before this could be accomplished the outbreak of the war
had a most serious effect on the progress of the colliery by
depriving the company of the labour required for increasing
the output, which is indispensable for the production of any
profitable results. The present output is at the rate of about
5,500 tons gross per week, whereas but for the war (which
has taken away over 200 men) it should have been 8,000 tons
per week; which would have undoubtedly enabled a profit to
be shown. Considerable difficulty has been met with, due
to a very heavy squeeze in the workings, and the main
roads near the bottom of the pit, which is, however, being
gradually overcome. Including debenture interest and other
charges, the accounts show a debit balance for the year of
£23,448, making a total debit of £24,901.

British Insulated and Helsby Cables Limited.—The report
for the year ended December 31, 1914, states that the profit
for the year amounts to £277,428 2s., to which has to be
added the balance brought forward from last year,
£98,266 14s. 7d., making a total of £375,694 16s. 7d. From
this have to be deducted : Directors and debenture trustees’
fees and remuneration to works committee, £5,315; interest
on first debenture stock, £22,500; interest on second deben-
ture stock, £10,000; depreciation on buildings, plant,
machinery, etc., £25,000; transfer to reserve account,
£50,000; transfer to special reserve account, £8,500;
transfer to first mortgage debenture stock redemption
account, £5,000; pension fund, £25,000; dividend on pre-
ference shares to December 31, 1914, £30,000; interim divi-
dend on ordinary shares to June 30, 1914, £20,000, leaving
available for dividend a balance of £174,379 16s. 7d. The
directors recommend the payment of a further dividend of
Ils. per share on the ordinary shares, making, with the
interim dividend already paid, a total of 15 per cent, for
the year ended December 31, 1914, absorbing £55,000,
carrying forward to next account a balance of
£119,379 16s. 7d.

British Transformer Company Limited.—The accounts for
1914 show a net profit of £16,234 (against £22,006), making,
with the amount brought forward (£4,108), a total of
£20,343. Reserve account is credited with £5,000, and
depreciation reserve with £1,500. A dividend of 7J per cent,
on the ordinary shares (3 per cent, of wdiich was paid as an
interim dividend in September) requires £6,410, and a
balance of £3,477 is carried forward.

Coltness Iron Company Limited. — The directors have
declared an interim dividend of 4 per cent, on the ordinary
shares.

Elders Collieries Limited. — The annual report of the
directors for the year ended December 31 last, states that
the profit for the year 1914, including £1,955 7s. 4d. brought
forward from last account, amounts to £17,598 4s. 3d., and
the directors recommend that £5,000 be transferred to
reserve account for depreciation, etc., bringing that account
to £15,000, that £1,419 be written off wagons account, that
a dividend of 4 per cent., less income-tax, be declared,
absorbing £8,490 16s. 8d., and that the balance of
£2,688 7s. 7d. be carried forward.

Flemington Coal Company Limited.—The accounts show
a loss on the past year of £3,146, after writing off £900 for
depreciation, and there is an adverse balance of £1,565 to
carry forward.

Hadfields Limited.—The report of the directors for the
year ending December last, -shows a profit of £139,301 0s. 6d.,
which, with £50,468 15s. brought forward, makes a total of
£189,769 15s. 6d. An interim dividend of Is. per share on
the ordinary, paid in August last, absorbed £20,000, and the
payment of the preference dividend £13,500, so that the
balance is reduced to £156,269 15s. 6d. The directors now
propose a further dividend on the ordinary of 2s. per share,
and a bonus of Is. 6d. per -share, all free of tax, with
£26,000 to reserve, and carry forward the balance of
£60,269 15s. 6d.

Henley’s (W. T.) Telegraph Works Company Limited.—
The net profits for 1914 were £90,125, after providing for
debenture interest, and £59,065 was brought forward. A
final dividend on the ordinary shares of 10 per cent., less
income-tax, making 15 per cent, for the year, and also a
bonus of 5s. per share, are recommended, adding £30,000 to
the reserve funds, and leaving to be carried forward
£69,419.

Mirrlees Watson Company Limited.—The report for the
year ended December 31 last states that the debit balance
for the year, after providing for depreciation, interest,
directors’ fees, and the special provision of £6,600 after-
mentioned, amounts to £12,648, from which falls to be
deducted the credit balance brought forward of £5,503,
leaving a balance at the debit of profit and loss account of
£7,145 to be carried forward. The directors regret that for
the first time for the past 12 years they have to report a
loss, which is due to a concurrence of adverse circumstances,
such as the war, the high cost of materials and labour, and
the state of some of the markets to which the company
exports, together with a special provision of £6,600 made to
meet possible loss on outstanding accounts. For the
previous year a dividend of 5 per cent., less tax, was paid.

Monk Bridge Iron and Steel Company Limited. — The
third annual report states that, including the dividend
receivable from John Butler and Company, and after pro-
viding for bank interest, etc., the gross profit in 1914 was
£32,772, and £1,425 was brought forward. Depreciation
takes £5,986, directors’ fees £2,500, income-tax £776, and
contribution to National Relief Fund £500. The preference
dividend for the year absorbs £15,000. The directors recom-
mend a dividend of 2J per cent, on the ordinary shares for
the'year, £6,250, carrying forward £3,185. They point out
that the company’s principal business is in railway material,
and -since the outbreak of war the railway companies have
placed fewer orders, and the company’s output has been
considerably reduced. The investment in John Butler and
Company stands in the balance-sheet at £144,021, the
paid-up capital of Monk Bridge being £500,000.

Rivet, Bolt and Nut Company Limited.—Including £4,850
brought forward, the year’s profit is £70,082. After pro-
viding £10,912 for depreciation, the directors recommend a
dividend of 6 per cent, and a bonus of 2 per cent, on the
ordinary shares, placing £15,000 to the ordinary reserve, and
carrying £8,420 forward.

San Salvador Spanish Iron Ore Company Limited.—The
accounts for the year 1914 show a net profit, after providing
for debenture interest, and writing off £2,785 for deprecia-
tion, of £1,215, increasing a credit balance brought forward
to £3,493, which would permit of the payment of a small
dividend, but, in view of the present state of affairs,’the
directors deem it unwise to recommend any distribution, and
they therefore propose to carry forward the above balance.
The quantity of mineral produced and shipped (particularly
the latter) shows a serious decline in comparison with 1913,
attributable to the war, which has not only put a stop to the
company’s shipments of ore, but has compelled the directors
to shut down the mines. Only sufficient workmen have been
retained to protect the mines and keep the machinery and
plant in order. The conversion of the plant from steam to
electric power has been completed.

Scottish Tube Company Limited. — The directors have
decided, after providing for sinking fund .and depreciation,
and setting aside £10,000 to reserve, to recommend the pay-
ment of 5 per cent, on the cumulative preference shares for
the six months ended December 31 last, and also a dividend
of 2J per cent, on the ordinary shares for 1914.

Tweefontein Colliery Limited. — The directors have
resolved to recommend that final dividends for the year ended
December 31 last be , declared as follow : On the preference
and participating shares a further dividend at the rate of
4 per cent, per annum, less tax, making the total preference
dividend for the year 10 per cent.; on the ordinary shares a
further dividend at the rate of 19 per cent, per annum, less
tax, making, with the interim dividend of 6 per cent., 25 per
cent, for the year.

Vulcan Foundry Company Limited.—It is proposed that
£30,648, being part of the undivided profits, be distributed
as a bonus amongst the holders of the ordinary shares in the
form of fully paid ordinary shares.

Wells (J. and G.) Limited.—The report for 1914 states
that, after deducting £3,000 for depreciation, and including
£4,037 brought forward, there is a disposable total of
£10,864. From that sum has been paid £3,000 for one
year’s preference dividend. The directors propose to pay a
dividend of 2J per cent, on the ordinary share capital, which
will absorb £5,191, and to carry forward £2,673.

NEW COMPANIES.

Holcroft’s Steel Foundry Company Limited. — Private
company. Registered March 9. To acquire and carry on
business of manufacturers of iron and steel castings formerly
carried on by Thomas Holcroft at Bilston Foundry, Bilston,
and enter into agreement between Joseph Sankey and Sons
Limited and the above-named company. Nominal capital,
£7,000 in £1 shares. Subscribers (one share each) :—H.
Holcroft, Parkdale, Wolverhampton, ironfounder; W.
Howard Boniton, The Newlands, St. James-road, Dudley,
secretary.

Mason (B.) and Sons Limited.—Private company. Regis-
tered March 11. Iron, steel, and metal founders, mechanical
engineers, manufacturers of machinery, etc., tool makers,
wood workers, builders, contractors, painters, electrical engi-
neers, gas engineers, colliery proprietors, miners, etc.
Nominal capital, £8,000 in £1 shares. Directors :—C.
Harvey, Edith North, and E. V. Tomey. Qualification of
directors, £25.

Scientific Metals Company Limited. — Private company.
Registered office, Imperial House, Kings way, W.C. Regis-
tered March 12. Manufacturers and dealers, either in a
manufactured or unmanufactured state, in ores, minerals,
precious metals, precious stones, alloys, etc., and to carry
on business.of consulting engineers, metallurgical engineers,
smelters, refiners, etc. Nominal capital, £1,000 in £1
shares. Governing director : J. J. Chiswell, of . above
address, electrical engineer. Qualification of above director,
600 -shares.

Scrapers Limited. — Private company. Registered
March 5. Mechanical engineers, manufacturers of steam
engines, machinery, and tools, brassfounders, metal workers,
boilermakers, and to acquire and work certain patents and
rights in respect of inventions relating to steam boiler tube
scrapers. Nominal capital, £1,600 in £1 shares. “A”
directors :—Sir Trevor Dawson, Sir Vincent Gaillard, and
Francis H. Barker. “ B ” directors :—A. Angeli and Pietro
R. Santini.

Smith ( Howard) Manufacturing Company Limited.—
Private company. Registered office, 2, Walbrook, E.C.
Registered March 8. To acquire business carried on at
Queen’s Park Works, Lonsdale-road, West Kilburn, and to
carry on business relating to the winning and working of
minerals and metals, etc. Nominal capital, £1,500 in £1
shares. Directors :—E. G. Kennedy, 4, Garden-road,
Sundridge Park, Kent, gentleman; C. M. Woolsey, Eagle
Cottage, Fortis Green, Hornsey, gentleman.

This list of new companies is taken from the Daily
Register specially compiled by Messrs. Jordan and Sons
Limited, company registration agents, Chancery-lane, E.C.

Immingham Coal Exports. — The return for the week
ending March 12 show that the coal exported from Imming-
ham totalled 10,146 tons foreign, which was made up by
the following shipments: To Amsterdam, 5,825 tons;
Dieppe, 1,379; Malmo, 1,573; and Rotterdam, 1,366 tons.
The total for the corresponding week last year was 20,721
tons foreign and 1,660 tons coastwise.

Grimsby Coal Exports.—The returns for the week ending
Friday, 12th inst., show that the coal exported, from Grimsby
w-as as follows:—Foreign: To Christiania, 868 tons;
Dieppe, 1,027; Esbjerg, 333; Halmstad, 850; Landscrona,
1,974; Odense, 575; and Randers, 620 tons. Total, 6,247
tons foreign, as against 23,569 tons foreign and 933 tons
coastwise during the corresponding period last year.

Hull Coal Exports.—The official return of -the exports of
coal from Hull abroad for the week ending Tuesday,
March 9, 1915, is as -follows —Amsterdam, 202 tons; Copen-
hagen, 1,707; Dieppe, 1,381; Duclair, 1,176; Dunkirk, 1,231;
Gothenburg, 612; Haugesund, 302; Havre, 577; Harlingen,
656; Malmo, 2,699; Oporto, 1,421; Rouen, 21,032; Rotter-
dam, 5,001; Guernsey. 617—total, 38,614 tons. The above
figures do not include bunker coal, shipments for the British
Admiralty, nor the Allies’ Governments. Corresponding
period March 1914—total, 56,527 tons.

CONTRACTS OPEN FOR COAL AND COKE.

For Contracts Advertised in this issue received too late
for inclusion in this column, see Leader and Last
White pages.

Edinburgh, March 29.—The Lord Provost, Magistrates,
and Council of, the City of Edinburgh invite tenders for the
supply of coal, (washed singles, washed pearls, and washed
or dry small dross or gum) for the Electricity Supply Depart-
ment. The contract may be for three, six, or 12 months,
from May 16, 1915, and firms tendering may quote accord-
ingly. The specification and form of tender can be obtained
on March 22 at the Engineer’s Office, Dewar-place, Edin-
burgh. Sealed tenders,, endorsed “ Electricity Supply
Department, Tender for Coal,” must reach the.Town Clerk,
City Chambers, Edinburgh, not later than’ March 29, 1915.
Frank A. Newington, engineer.

Abstracts of Contracts Open.

Bristol, March 23.—Coal for the Corporation. Forms
from City Engineer, 63, Queen-square, Bristol.

Denbigh, March 30. — 1,700 tons of gas coal for the
Denbigh Gas and Coke Company. Particulars from W.
Ewart orock, manager, Denbigh.

Harwich, March 22.—Coal for military services for the
Harwich District Eastern Command. Forms from Officer
Commanding A.S.C., Harwich Garrison, Harwich.

London, E., March 23.—100 tons of house coal for the
managers of the Poplar and Stepney Sick Asylum. Forms
from Clerk, Devons-road, Bow.

Ripon, March 22.—Goal and coke for the Hutment Camp,
Ripon. Forms from District Barrack Officer, Headquarters
Office, Northern Command, York.

Warwick, March 27.—Cobbles for engine purposes, for
the Visitors Committee of the Warwick County Lunatic
Asylum. Forms from H. W. Blenkinsop, clerk.

Wrexham, April 7. — 14,000 tons of best approved gas
coals for the directors of the Wrexham Gas Company. Forms
from O. Evans, engineer and manager.

The date given is the latest upon which tenders can be
received.

CONTRACTS OPEN FOR ENGINEERING, IRON
AND STEEL WORK, Ac.

Ashington, April 17.—Retort House.—Steel-framed retort
house, coal store, purifier house, and steel chimney; con-
tinuous vertical retort house, retort bench, and coal store
complete; retort bench, regenerator settings, and retort iron-
works; boiler house, etc.; gas holder, condensers, tar
extractors, Livesey washer, scrubber washer, exhausters
and engines, sulphate plant, two Cornish boilers, and other
work, for the Urban District Council. Particulars from
Messrs. W. A. Valon and Son, Caxton House, Westminster.

Mansfield, April 7.—Colliery Branch Line.—Construction
of Ruff ord Colliery branch, concentration sidings, and
western curve, for the directors of the Mansfield Railway
Company. • Particulars from R. Elliott-Cooper, 15, Dean’s-
yard, Westminster, S.W.

Wellington (New Zealand), April 30.—Hydro-Electric
Plant.—A three-unit exciter set and a 1,500 kw. generator,
for use in connection with the Lake Coleridge power scheme.*

* Specifications, particulars, etc., may be seen at the
Commercial Intelligence Branch of the Board of Trade,
73, Basinghall-street, E.C.

CATALOGUES AND PRICE LISTS RECEIVED.

Mr. Charles H. Blume (White Building, Fitzalan-square,
Sheffield) • sends us particulars of a new heat-radiating insu-
lating enamel for electrical windings, which he has just
placed upon the market. The object of “ Radiolac,” the
name given to the new preparation, is to facilitate the trans-
mission of heat generated on service to the outer or cooling
surface of the coil, thus increasing the “ rating value.”

“ Concerning Belting and Transmission ” is the title of a
booklet which has been sent to us by the North British
Rubber Company Limited (Castle Mills, Edinburgh). Tests
are quoted to show the superior adhesive properties of rubber,
as compared with leather, and it is maintained that belts
made of this material are also stronger and more durable, as
well as cheaper, than leather at its present high price. The
makers also turn out large quantities of rubber belting for
conveyors. The booklet contains some useful notes for users,

Messrs. Meldrums Limited (Timperley, Manchester) send
a leaflet relating to their forced-draught furnaces and
destructors, which are specially designed for dealing with
low-grade fuels of all descriptions, such as duff, dant and
bats, coke breeze, smudge, slag, locomotive ashes, and town
refuse. Where the fuel is of a very dirty nature, the furnace
is fitted with self-cleaning bars, and the makers are pre-
pared to examine any samples of fuel submitted to them.
The leaflet also gives brief details of the “ Koker ” and
“ Sprinkler ” mechanical stokers.

Legislative and other influences have revolutionised the
methods of illumination adopted in coal mines, and Messrs.
John Davis and Son (Derby) Limited, have, as hitherto,
been in the forefront in adapting themselves to the new con-
ditions. A new sectional catalogue on miners’ safety lamps,
which they have just issued, shows a very wide range of
lamps and accessories, such as lamp stands, lamp cleaning
machines, testing chambers, lighting stands, etc., nearly
every possible requirement having been considered. For
the working miner Messrs. Davis supply the “ Davis-Marst ”
lamp, of the Marsa-ut type, with variations of burner, lock,
etc. Marsaut type lamps are made with bonnets of large
dimensions for hot pits or where an adequate supply of
oxygen is difficult to maintain ; whilst a larger lamp is speci-
ally designed for very deep and dusty mines. Particulars of
these and other lamps referred to in the catalogue have
appeared in the various Safety Lamps Orders. Mention,
however, may be made of a novelty which has just been
approved—a detachable magnet lock, enabling lead plug
locks to be converted into magnetic locks. The locks can
be removed by an electro-magnet, and put separately in a
partition or box. They are cleaned separately- from the
lamps, can be instantly attached, and locked automatically.
Messrs. Davis and Son have just produced a new lamp—
the “Davis-Sun”—which, by an arrangement of the internal
fittings, gives a maximum light without increasing the con-
sumption of oil. Particulars of this lamp will be forwarded
to anyone applying for them.