April 23, 1915. THE COLLIERY GUARDIAN 879 COAL, IRON AND ENGINEERING COMPANIES. REPORTS AND DIVIDENDS. Anglo-French (Transvaal) Navigation Coal Estates Limited.—The report for 1914 states that the sale of 316,421 tons of marketable coal shows an increase of 14,249 tons, as compared with 1913. The net profit was £23,364, in which sum is included an amount of £465, sundry revenue. A further £3,000 has been allocated for extension of plant, depreciation, etc., and two interim dividends, Nos. 8 and 9, each of 6| per cent., have been declared payable to holders of preference shares, and after making allowance for £2,551 brought forward there remained an amount, of £6,559 to be carried forward. The contingent liability in respect of the cumulative preference dividend stood at the end of the year at £13,330, or £6,600 less than the previous year’s figures. Babcock and Wilcox Limited.—The net profit during the year amounted to £402,947. To this has to be added the balance brought forward from last account., £73,834. Deduct- ing from the total the interim dividends paid October 22, 1914, of 3 per cent, on preference shares, 21 per cent, on second preference shares, and 5 per cent, on ordinary shares, there is left a balance of £386,350; from which the directors recommend that the following dividends be paid for the half- year ending December 31, 1914 :—3 per cent, on the pre- ference shares, from which income-tax is to be deducted; 2J per cent, on the second preference shares, from which income-tax is to be deducted; and 9 per cent, on the ordinary shares, free of income-tax; placing to reserve fund £150,000, granting to the staff pension fund £10,000, and leaving a balance to be carried forward of £69,491. Doxford (W.) and Sons Limited. — The report for 1914 states that the profits amounted to £166,846 12s. lOd. (com- pared with £121,246 10s. 5d.) for the previous year), to which has been added £3,508 19s. 2d., the balance brought forward from last year, making together £170,355 12s. Out of this there has been appropriated : Interest on debentures, year to December 31, 1914, £5,552; dividend on preference shares, half-year to June 30, 1914, £6,250; dividends on ordinary shares, £15,000; reserve for doubtful debts, ‘£15,000; general reserve account (making it £225,000), £80,000 (compared with £35,000 for 1913); reserve for equalisation of dividends (making it £140,000), £25,000 (compared with £36,000 in 1913), a total of £146,802, leaving unappropriated £23,553 12s. This the directors recommend should be disposed of as follows :—Dividend on preference shares, half-year to December 31, 1914, £6,250; bonus on ordinary shares, £15,000, leaving to be carried forward to next year £2,303 12s., a total of £23,553 12s. The amounts now added to the reserve funds make the total amount of these funds £380,000. The sum of £25,948 13s. 9d. has been applied towards maintenance and depreciation of buildings and plant, compared with £28,131 8s. in 1913. East Kent Colliery Company Limited. — The debenture holders have decided to accept an offer to purchase the under- taking by the Channel Collieries Trust Company if a recon- struction proposal is not adopted by shareholders. It is intended that a new company shall be formed with a capital of £400,000, divided into 2,400,000 shares of 3s. 4d. each, all of the same class. Each shareholder of the old company is to have the right to apply for one new share with a liability of 2s. for every ordinary or vendor’s share now held. Under the purchase proposal the debenture holders of East Kent Colliery Company are to receive £5 per cent, of the face value of their existing debentures in second debentures in a new company- (to be formed by the Channel Collieries Trust), forming part of an authorised series of £120,000 second debentures. The new company will also have £150,000 first debentures. Each shareholder and debenture holder will have the opportunity of subscribing at par foi £100,000 of the first debentures and £100,000 in shares of the new company, the subscription of the £100,000 first debentures being guaranteed by the Channel Collieries Trust. The* board of the East Kent Colliery Company report that their secured liabilities amount to £164,978, and the unsecured debts to £115,000. The issued share capital is £490,583. Glencoe (Natal) Collieries Limited.—The output for 1914 totalled 164,489 tons, a decrease of 20,224 tons. The decrease in output is mainly due to short supply of railway trucks. Capital expenditure totalled £3,446. Under special expendi- ture there has been spent £2,985, mainly underground. Profit shows a reduction, being £16,202 from coal account, as compared with £20,503 for the previous year. The net profit on the year’s business is £10,596, after provision for depreciation and general charges, which compares with £13,589 a year ago. The amount available, including last year’s balance in appropriation account, is £27,818. After payment of the dividends, and providing for special expendi- ture and other items, a balance is carried forward of £14,087. Two dividends, of 2J and 1^ per cent., amounting to £9,375, were declared during the year. Kinneil Cannel and Coking Coal Company Limited.—The directors do not propose to declare any dividend at present. Newton, Chambers and Company Limited. — In their report for the year ended December 31, the directors state that easier coal and iron prices have prevailed, and business was adversely affected by the coal strike, with the result that a less.profit has been realised than for the previous year. The outlay on capital referred to in the last report has been delayed owing to the war, and a large portion of this expen- diture has still to be met. After allowing for depreciation, the profit and loss account shows a profit for the year of £34,182 9s. 7d., making, with the balance of £23,639 6s. brought forward, a total of £57,821 15s. 7d. Out of this there has been paid to the holders of debenture bonds and the mortgagees of interest £3,168 4s. 5d. A special provision of £10,000 has also been made towards capital outlay during the forthcoming year, leaving an available balance of £44,633 11s. 2d./which the directors recommend to be applied as follows :—7 per cent, on preference shares of £20 each, absorbing £10,287 4s.; 7 per cent, on the ordinaries of £20 each, absorbing £11,165; and carry forward £23,201 7s. 2d. Nova Scotia Steel and Coal Company Limited. — The annual report for 1914 states that every part of operations has been affected by the war. The profit for the year was 415,164 dols. The balance brought in was 527,880 dols., which, with the year’s surplus and 150,000 dols. transferred from general reserve, made a total of 1,093,050 dols., which was distributed as follows : Interest paid on bonds and to bank, 421,070 dols.; interest on debenture stock, 180,000 dols.; dividend on preferred shares, 41,200 dols.; dividend on ordinary shares, 190,000 dols. ; directors’ remuneration, 12,500 dols.; transferred to .reserve fund for depreciation, renewals, etc., 76,169 dols.; sinking fund, 34,409 dols.; improvement and betterments written off, 86,605 dols.; transferred to insurance fund, 3,629 dols.; leaving the balance to be carried forward 57,466 dols. Rand Collieries Limited.—The report of the directors for the year ended December 31, 1914, states that for the period under review the revenue from rents, etc., amounted to £948, while, on the Other hand, general expenses at the mine and head office totalled £2,627, and interest on advances amounted to £12,752. The financial position shows an excess of liquid assets over current liabilities of £6,821. On the other hand, there is a liability of £189,833 to the General Mining and Finance Corporation Limited in respect of advances made by the corporation. No oppor- tunity has arisen during the past year to provide the addi- tional working capital necessary for the re-opening and further development of the mine on a commensurate scale, and the property is therefore still closed down, and in the hands of a caretaker. Such funds as were required to main- tain the property have been advanced by the General Mining and Finance Corporation Limited. Richardsons, Westgarth and Company Limited. — The report of the directors for the year ending December 31, 1914, after providing the sum of £19,044 15s. 5d. for maintaining buildings and fixed and loose plant, shows a profit of £66,170 12s. 2d.; against this the following have to be pro- vided : Interest on 4J per cent, perpetual debenture stock for the year to December 31, 1914, £15,750; directors’ fees, £1,700; Heavy Stampings Limited, amount written off in respect of cost of starting and developing new business, £8,000—£25,450; leaving a credit balance of £40,720 12s. 2d. Thornycroft (John I.) and Company Limited. — The directors recommend the payment of a dividend of 3 per cent. , on the preference shares, making 6 per cent, for the year; and 8 per cent, on the ordinary shares. In addition, they transfer substantial amounts to reserve and in reduction of goodwill account, and carry forward £10,000. Yickers Limited. — The report for 1914 states that the whole of the issue of new shares which took place last year was more than subscribed for by the shareholders them- selves. After providing for debenture interest and for depreciation, the profits for the year were £1,019,034. Adding £222,811 brought forward, there is £1,241,845. The directors have placed to the credit of general reserve account £250,000. They recommend a dividend of Is. 6d. per share (free of income-tax) on the ordinary shares, making 12J per cent, for the year; leaving to be carried forward £228,876. Whitehaven Haematite Iron and Steel Company Limited. —The directors have declared a dividend of 7 per cent, on the 7 per cent, cumulative preference shares. Yorkshire Iron and Coal Company Limited.—The result of the trading operations for 1914 shows a profit of £18,576, and after providing £8,327 for repairs and renewals, the net trading profit is £10,249. NEW COMPANIES. Acme Foundation Rim Company Limited.—Private com- pany. Registered office, St. Peter’s-place, Broad-street, Birmingham. Registered April 10. To enter into an agree- ment, and to carry on business of wire drawers, tube makers, general engineers, etc. Nominal capital, £2,000 in £1 shares. Director, Edgar Jennings, St. Peter’s-place, Broad- street, Birmingham, rim manufacturer. British Metal (Kingston) Limited. — Private company. Registered office, 47, Eden-street, Kingston-on-Thames. Registered April 12. Ironfounders, mechanical engineers, and manufacturers of war material and machinery, tool makers, brassfounders, etc. Nominal capital, £15,000 in 5,000 £1 7 per cent, non-cumulative preference shares, and 10,000 £1 ordinary shares. . Directors :—G. B. Charles- worth, Farnley Park Gamp, Otley, Yorkshire, captain in the Army; J. S. Charlesworth, Farnley Park Camp, Otley, Yorkshire, major in H.M. Army; H. A. Farman, Bank Chambers, 329, High Holborn, W.C., solicitor; Wm. D. G-. Bennett, 20, Copthall-avenue, E.C., stockbroker. Qualifica- tion of directors, £1. Crombie’s Patents Limited.—Private company. Regis- tered April 16. To acquire a certain invention relating to improvements in apparatus and processes for the purifica- tion of liquids and the recovery of solids contained therein, and to carry on business of electricians, metallurgists, manu- facturing chemists, gas engineers, tool makers, etc. Nominal capital, £4,000 in 2,000 10 per cent, non-cumulative partici- pating preference shares, and £2,000 £1 ordinary shares. First directors shall be appointed by subscribers. Sub- scribers (one participating preference share each) :—W. C. Smith, “ Montague,” Durley-road, Bournemouth West, gentleman; L. H. Raw, Blomfield House, London Wall, E.C., engineer. Pearn (H. L. V.) and Company Limited.—Private com- pany. Registered office, 3/7, Southampton-street, Strand, W.C. Registered April 14. To acquire various patents and patent rights of A. E. Lamkin, of 86, Springfield-road, Brighton, and to carry on business of electricians, mechanical engineers, etc. Nominal capital, £1,000 in £1 shares. Directors and subscribers (one share each) :—F. H. Hadow, 15, Harrington-gardens, South Kensington, gentleman; H. L. V. Pearn, 134, Queen’s Park-road, Brighton, gentleman; A. E. Lamkin, 86, Springfield-road, Brighton, electrical engineer. Qualification of directors, £100. Pearson Electric Miners’ Lamps Limited.—Private com- pany. Registered April 15. Manufacturers of and dealers in miners’- electric safety lamps, electric light fittings, etc., and to carry on business as electrical engineers, and con- tractors, suppliers of heat, light, and power. Nominal capital, £5,250 in 5,000 £1 participating preference shares, and 5,000 Is. “ B ” shares. Minimum subscription, 10 per cent, of shares offered. Directors :—G. J. V. Porter, 2, Wardrobe-place, Doctors Commons, E.C., solicitor; E. F. Hilton, 188, Cromwell-road, S.W., gentleman; E. R. Beale, 4, Thorny-court, S.W., engineer; G. Pearson, 196, Abbot- road, Poplar, E., manufacturer; L. R. Pearson, 196, Abbot- road, Poplar, E. Qualification of directors, 100 shares. This list of new companies is taken from the Da*ly Register specially compiled by Messrs. Jordan and Sons Limited, company registration agents, Chancery-lane, E.C. Grimsby Coal Exports.—The coal exported from Grimsby during the week ending Friday, April 16, according to the returns, was.as follows:—Foreign:. To Christiania, 1,543 tons; Dieppe, 259; Gothenburg, 1,653; Treport, 390; Ystad, 2,625; and Trondhjem, 725 tons—total, 7,195 tons foreign, as.compared with 7,785 tons foreign during the corresponding period of last year. ABSTRACTS OF PATENT SPECIFICATIONS RECENTLY ACCEPTED. 5051 (1914). ■Improvements Relating to the Purification of Illuminating Gases, and Mond and other Gases for Heat- ing or Power Purposes. E. Howl, of The Quarries, near Dudley; and F. Perry, of Shrubbery, Broomfield-road, Tipton, Staffordshire.—Has for its object to provide for -the improved separation of tar or tar fog and other finely divided liquid or solid impurities from industrial gases, such as illuminating gases, and Mond and other producer or power gases. The invention comprises the subjection of the gases to the action of a stream of electro-statically charged particles. The invention further comprises the combination with a vertical tube of a water spray situated at the upper end of the tube and adapted to deliver into the tube a spray of electro-statically charged water particles which encounter, an ascending stream of the gases to be treated, and means for collecting the precipitated matter. The accompanying drawing illustrates diagrammatically an apparatus con- structed in accordance with the invention. Electrification of the water receptacle and the spray issuing therefrom is effected by connecting the receptacle to any convenient source of high voltage electricity, such as an influence machine, high-tension dynamo, or induction coil. It is found that in the case of Mond or like gas, to charge the water or other particles negatively is more effective in the precipitation of the suspended tar or tar fog than to charge them positively. For this purpose the water tank d is connected to the nega- tive pole, and the base of the tower or the sump b to the positive pole of the electric apparatus. As the spray passes through the counter-flowing stream of gases it causes the tar particles to coalesce and fall to the bottom of the sump, whence the accumulation can periodically be withdrawn through a pipe g. Water can overflow from the sump through a pipe h. Instead of a water spray, any other suitable electrified particles, such as shot or metal dust, may be used for precipitation purposes. (Three claims.) 6088 (1914). Improvements in and Relating to Turbine Plants. The British Thomson-Houston Company Limited, of 83, Cannon-street, London, E.C. (A communication from the General Electric Company, of Schenectady, County of Schenectady, New York, U.S.A.)—Consists in an organised assemblage of apparatus designed to extract practically all the energy contained in the hot products of burning fuel. To this end, these products are allowed first to impinge upon the buckets of a gas turbine, which extracts thereby a portion of the heat energy in said products. Upon escaping from said turbine, however, the gases are still at a high temperature,