June 25, 1915.

THE COLLIERY GUARDIAN.

1345

been amply justified. The new by-product coke oven plant—
finished under exceptional difficulties—was1 actually started
in March, and is working satisfactorily. The re-modelling
of the Abercarn Colliery surface plant, the compressor plants,
and the central electric generating station at Victoria, have
made progress during the year. The directors announce
that, after careful investigation, they have signed an agree-
ment to purchase 1,200 acres of iron ore bearing lands in
Northamptonshire, and arrangements have been made for
the purchase of the freehold on a cash basis. In view of the
very large additional outlay on new work during recent years,
and in order to provide the additional working capital now
necessary, the directors propose to take powers to increase
the ordinary share capital by £400,000, of which it is pro-
posed to issue £200,000 shortly, and resolutions will be
submitted to the forthcoming general meeting for the pur-
poses of carrying this into effect. The total expenditure for
property purchased and upon new work during the year
amounted to £194,094, of which £179,876 has been charged
to property account, and the balance, £14,217, has been
placed to suspense outlay account. The balance of profits
brought forward was £11,998, and the gross profits for the
year amount to £160,930, making £172,929. Current and
legal expenses absorbed £10,370, interest on debentures
£22,500, interest on special loans £18,467, war allowances
£22,664, and reserve for bad debts £22,500, leaving an avail-
able balance of £76,427. The directors recommend a divi-
dend upon the ordinary shares at the rate of 7| per cent,
for the year, carrying forward £9,299.

Greenwood and Batley Limited.—The net profits for the
year ended March 31 were £68,395, after providing for
debenture interest, and £4,825 was brought forward. The
directors have appropriated £28,000 for depreciation, and
added £10,000 to the reserve. A dividend of 12J per cent,
is proposed on the ordinary shares, carrying forward £6,418.
Authority is sought to appoint any employee of the company
to be a special director, and to remove any special director so
appointed, such special director not to be counted a director
for any purpose other than the sub-clause, and shall not be
entitled to notice of or to attend meetings of the directors, or
to any voice in the management of the company, or to any
remuneration as a director, and shall not be required to hold
any share qualifications. Major-Gen. Edward Micklem and
Lieut.-Col. Ralph Vivian have resigned from the board after
serving for more than 26 years. Col. 0. C. Armstrong has
been elected to succeed Gen. Micklem as chairman, and
Major H. A. Micklem in the place of Col. Vivian.

Haggie (R. Hood) and Son Limited.—The directors have
decided to pay the usual interim dividend of 5 per cent, per
annum on both classes of shares.

Head, Wrightson and Company Limited.—The profits for
the year ended April 30 were £68,807, and £7,756 was
brought forward. Debenture interest absorbs £6,750, and
directors’ fees £1,000, while £10,000 has been added to the
reserve, and £2,000 to the workmen’s compensation fund,
and £15,000 has been written off for depreciation. A divi-
dend of 10 per cent, is proposed on the ordinary shares,
carrying forward £5,665.

Hyderabad (Deccan) Company Limited.—A final dividend
of 9d. per share, free of income-tax, will be paid on July 2.

Knowles (Andrew) and Sons Limited.—The directors have
declared an interim dividend on account of the profits of the
current year at the rate of 4 per cent, per annum-(3-84d. per
share), less income-tax, payable on August 3. The transfer
books of the company will be closed for the purpose of the
preparation of the dividend list from July 20 to 27, both
dates inclusive.

Kynoch Limited.—The report for the year ended April 3,
1915, shows a profit of £152,872, making, with £40,347
brought forward, a total of £193,220. After providing for
preference dividend, the directors recommend a dividend at
the rate of 10 per cent, per annum on the amount for the
time being paid up, and a bonus of 2s. per share on the
ordinary shares, all these distributions being free of income-
tax ; that £50,000 be placed to the reserve fund, and that
the balance of £26,074 be carried forward. The ordinary
shareholders have for many years received no dividend at
all, and for the last two years only a small one. The
demands of the Government made it necessary to call up
during the year the unpaid capital of the ordinary shares,
amounting to £112,500.

Maltby Main Colliery Company Limited.—The report of
the directors for the year ended March 31, shows that the
gross profit is £13,711 12s. 5d., which, after deducting
interest and depreciation, is reduced to £574 4s. 7d. It is
proposed to add this sum to the balance of £9,613 Ils. 9d.
brought forward from the previous year, and to carry for-
ward the whole amount of £10,187 16s. 4d. to next year’s
accounts. An improvement in the output of coal took place
in the early part of the financial year, but on the outbreak
of the war a serious set-back occurred in consequence of the
enlistment of large numbers of workmen. By the end of
March last 273 men had left the colliery to join his Majesty’s
Forces, representing 17| per cent, of the whole number
employed. The reduction in output involved a correspond-
ing increase in the working cost, and this disadvantage was
accentuated by the heavy rise in the prices of all kinds of
materials and stores, and the increases in wages. A con-
siderable fall in the selling prices of coal took place during

1914,	but an improvement set in at the commencement of

1915.	The first batteiy of 30 coke ovens, with by-product
recovery plant, has been working since October last, and
the second battery has now been put into operation; unfor-
tunately, the selling price of both coke and sulphate of
ammonia fell to a low level during the financial year, but
they have now taken an upward turn. A benzol plant has
been installed, and is giving satisfactory results. Since the
date of the last report 133 houses have been built, 58 more
are in course of erection, and arrangements have been made
for building a further 87. When these are completed the
company will have 340 houses on lease.

Monks, Hall and Company Limited.—For the year ended
April 30, 1915, including £4,179 brought forward, the profit
is £11,391, out of which a dividend of £3,179 has been paid
on the preference shares to April 30, 1914. The directors
now recommend a dividend on the preference shares for the
six months to October 31, 1914, of £3,108, making a distri-
bution thereon of 5 per cent, per annum for 12 months? After
transferring £2,500 to debenture redemption account, there
then remains £2,603 to carry forward.

Moresby Coal Coinpany Limited.—Dividend at the rate of
2J per cent, on the ordinary shares for the year ended
March 31 has been declared.

Natal Navigation Collieries and Estate Company Limited.
—The directors have declared a dividend of 2J per cent. (6d.
per share) for the half-year ending June 30.

New Hucknall Colliery Company Limited. — A second
interim dividend of 2J per cent, has been declared on the
ordinary shares, payable on August 1.

Newport-Abercarn Black Vein Steam Coal Company
Limited.—For the year ended March 31, 1915, the net profit
was £20,551 4s. Id., add balance from last year
£9,263 15s. 9d., leaving available £29,814 19s. lOd. This
amount the directors recommend dealing with as follows :—
Write off suspense account (allowance to war -dependants
paid during the year), £2,012 10s.; dividend of 71 per cent,
on the pre-preference shares, less income-tax, £5,625; divi-
dend of 7 per cent, on the preference shares, less income-tax,
£5,250; dividend of 10 per cent, on the ordinary shares, less
income-tax, £7,500; carry forward, £9,427 9s. lOd. In
consequence of over 20 per cent, of the company’s workmen
having joined the Colours, there has been a marked decrease
in the output of the colliery. The raising of coal at the new
pit was commenced on May 31 last, and a satisfactory
output is anticipated in the near future. Interest on the
debenture capital has been included in the expenditure on
the new pit.

Rickett, Cockerell and Company Limited.—The accounts
for the year ended March 31 show a net profit, after pro-
viding for depreciation, etc., and including £10,729 brought
forward, of £55,294. The directors recommend a dividend
of 5 per cent, on the ordinary shares, leaving £12,545 to
be carried forward.

Sheepbridge Coal and Iron Company Limited. — It has
been decided to pay a second instalment on -account of the
dividend for the year ending June 30, 1915, at 6d. for each
fully-paid share, preference and ordinary; 2-4d. on the
preference shares, 8s. paid, -at the same rate on the new
ordinary shares, according to the date upon which the capital
instalment of the new shares have been paid, less income-
tax.

Transvaal Coal Trust Company Limited.—The directors
announce an interim dividend of 8| per cent. (Is. 9d. per
share).

Udston Colliery Company Limited.—The directors have
paid' an interim dividend at the rate of 5 per cent, per
annum, free of income-tax, on the “A” and “ B ” shares
for the half-year.

Wagon Finance Corporation Limited. — The directors
have declared an interim dividend at the rate of 10 per
cent, per annum for the half-year ending the 30th inst., free
of tax, the same as a year ago.

Westinghouse Electric and Manufacturing Company
Limited. — A majority of the holders of outstanding con-
vertible sinking fund 5 per cent, gold bonds, due 1931, having
assented to the plan, and having entered into an agreement,
dated May 12, 1915, providing for the reduction of the price
at which common stock of the company shall be issued upon
the conversion of the bonds and for the elimination of the
restrictive covenants against the issue of stock contained in
the trust indenture of March 13, 1906, the time within which
bondholders may avail themselves of the privilege of partici-
pating in the plan by depositing their bonds is extended to
and including June 30, after which bonds will be received
only upon such terms as may be imposed by the company,
with the approval of the managers.

White (J. G.) and Company Limited.—The report for the
year to February 28 states that the effect of the war on the
business of the company has been very serious. Under the
circumstances, the profit earned of £19,773 is not unsatis-
factory. The directors, therefore, in spite of the large
reserves accumulated, did not feel justified in paying an
interim dividend in January last, and are now unable to
recommend a dividend above the rate of 6 per cent, on both
classes of shares. The balance to the credit of profit and
loss, after bringing in £21,786, is £41,559. This sum the
directors recommend should be dealt with in the following
manner :—In payment of a dividend of 6 per cent., less
income tax, on the cumulative preference shares for the year,
£9,000; a dividend of 6 per cent., less income-tax, on the
ordinary shares for the year, £3,000; to be carried forward,
£29,559.

NEW COMPANIES.

H. P. F. Syndicate Limited.—Private company. Regis-
tered June 18. To carry on business of mechanical, water,
and sanitary engineers, manufacturers of machinery, tool
makers, brass founders, electrical engineers, etc. Nominal
capital, £1,000' in 1,000 £1 shares. Subscribers (one share
each) :—J. B. Somerville, 11, New-square Lincoln’s Inn,
W.C.; G. J. D. Tull, 67, Layard-ro-ad, Southwark Park,
clerk.

“ K. S. M.” Engineering Company Limited. — Private
company. Registered office, 78, York-street, Westminster.
Registered June 18. To carry on business of iron founders,
mechanical, water, and electrical engineers, tool makers,
boilermakers, wood workers, builders, printers, carriers, etc.
Nominal capital, £5,000 in 5,000 £1 shares. Directors :—
R. W. H. Kane, Chesterholme, Ditton Hill, Surrey, motor
engineer; C. S. Sadgrove, 64, Erpington-road, Putney
Common, motor engineer; A. J. Walmsley, Tetbury,
Gloucestershire, gentleman.

Mechanical Supplies Limited.—Private company. Regis-
tered office, 17, Lime-street, E.C. Registered June 17. To
carry on business of mechanical engineers, and manufac-
turers of pumping, gas making, and other machinery, tool
makers, brass founders, electrical engineers, builders, etc.
Nominal capital, £1,000 in 1,000 £1 shares. Subscribers
(one share each) :—A. G. Gardner, director of public com-
pany; F. W. Baynes, M.I., engineer.

National Engineers’ Supply Company (Liverpool) Limited.
—Private company. Registered office, Old Castle Buildings,
26, Preesons-row, Liverpool. To acquire, etc., and carry on
business of seed crushers, oil extractors, by crushing,
chemical, or any other process, oil manufacturers, oil
refiners, oil blenders, soap boilers, makers, and manufac-
turers of cattle food, etc.; also to carry on trade or business
of electrical engineers, mechanical engineers, machine and
tool makers. Nominal capital, £2,000 in £1 shares. Quali-
fication of directors, £50. Subscribers (for one share each) :
G. Morley, 4, York-avenue, Poulton-road, Seacombe,
shipping agent; A. W. Anderton, Norwood, Newton-le-
Willows, colliery agent.

Pen-y-Pass Copper Company Limited.—Private company.
'Registered office, 56, Moorgate-street, E.C. Registered
June 17. To take over the tributors’ rights acquired by J.
F. Wells, 56, Moorgate-street, E.C., to work a certain copper
mine at Pen-y-Pass, Wales; also to search for, get, quarry,

and deal with ore, lead, coal, ironstone, copper, and other
metals. Nominal capital, £1,290 in 1,200 £1 part, preference
shares, and 1,800 Is. deferred ordinary shares. Directors :

E.	G. Appleby, 12, The Broadway, Westminster, S.W.; J.

F.	Wells, 56, Moorgate-street, E.C.; J. F. B. Wilkinson,
Sandybank, Weybridge, Surrey.

Raglan Collieries Limited.—Private company. Registered
office, Raglan Collieries, Pen-coed, Glamorgan. Registered
June 16. To enter into an agreement, and to carry on
business of miners, smelters, engineers, colliery proprietors,
brick, tile, and pipe manufacturers, tin-plate manufacturers.
Nominal capital, £40,000 in 800 £50 shares. The first
directors shall be appointed by the subscribers. Qualifica-
tion of directors, £500. Subscribers (one share each) :—
D. Richard, Tirydail House, Ammanford, tin-plate manu-
facturer; W. R. Lewis, New Lodge, Gorseinon, steel
manufacturer.

Toluene Syndicate Limited.—Registered Office, 34, Vic-
toria-street, S.W. Registered June 17. The production of
toluene by chemical process or otherwise; also to acquire any
chemical properties, laboratories, and to turn the same to
account. Nominal capital, £2,000 in 40,000 Is. shares.
Minimum subscription, seven shares. Directors :—W. B.
Sifton, 34, Victoria-street, S.W., gentleman; F. C. March,
9, Cornwall-gardens, Preston Park, Brighton, engineer; T.

G.	Tulloch, Bank-buildings, St. James-street, S.W., captain
(late) R.A. Remuneration of directors, £100 per annum.

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.

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.

Warrington, July 7.—The Electricity and Tramways
Committee invite tenders for the supply of 6,000 tons of
slack, to be delivered -at the Electricity Works, Howley,
during -six months commencing August 1 next, to be
delivered in accordance with conditions of specification, copy
of which can be obtained from -the undersigned on payment
of one guinea, . which will be returned on receipt of a
bona fide tender; 5s. will be charged for extra copies of
specification. In the alternative, the Committee invite
tenders for 10,000 tons of slack to be delivered during the
12 months commencing August 1 next. Tenders, addressed
to the “ Chairman of the Electricity and Tramways Com-
mittee, Town Hall, Warrington,” must be sealed with wax,
and endorsed “ Tender for slack,” and delivered not later
than 12 o’clock on Wednesday, July 7, 1915. The lowest
or any tender will not necessarily be accepted. F. V. L.
Mathias, borough electrical and tramways engineer, Howley,
Warrington.

Abstracts of Contracts Open.

Aberdeen, June 28.—Coal for the Corporation. Forms
from J. Gordon, assistant burgh surveyor, Town House.

Aldershot, June 28.—About 100 tons of hard coal for the
Education Committee. Tenders to N. Clinton, clerk, 4,
Station-road, Aidershot.

Aldershot, June 28.—Best Welsh steam and house coals
for the Council. Tenders to W. E. Foster, clerk, Municipal
Buildings, Aidershot.

Bakewell, June 30.—1,300 to 1,500 tons of gas coal and
100 tons of cannel for the Urban District Council. Forms
from V. R. Cockerton, clerk, Bakewell.

Baltin glass (Ireland), July 10.—75 tons double -screened
Wigan coal and 75 tons Irish coal for the Guardians. Forms
from J. R. Dagg, clerk of Union, Office, Baltinglass Work-
house.

Barnoldswick.—6,000 tons of best screened gas coal or
nuts for the Urban District Council. Forms from J. W.
Thompson, engineer and manager.

Belfast, June 30.—Coal for the Harbour Commissioners.
Tenders to D. J. Owen, secretary, Harbour Office, Belfast.

Birmingham.—Fuel for the East Worcestershire Water-
works Company. Forms from P. W. Walker, secretary, 78,
Waterloo-street, Birmingham.

Birmingham, June 30.—100,000 tons of gas coal, nuts,
and coking slack for the Corporation. Forms from R. S.
Hilton, secretary, Gas Department, Council House, Bir-
mingham.

Bournemouth, July 3.—Coal and coke for the Education
Committee. Tenders to the Director of Education, Muni-
cipal Offices, Bournemouth.

Bristol, July 5.—Best anthracite and good house coal
for the Education Committee. Forms from W. A. Adams,
secretary, Guildhall.

Bromsgrove, July 3.—Coal and coke, free from dross, for
the Education Committee. Forms from J. Lloyd, corre-
spondent, Education Office, Bromsgrove.

Bury, July 12.—About 40,000 tons of gas coal, 500 tons
of boiler slack, 500 tons of burgie, 250 tons of house coal,
and 50 tons of W-allsend coal, for the Corporation. Forms
from H. Simmonds, engineer and general manager, Gas
Works, Bury.

Cairo (Egypt), July 22.—360,000 tons of Welsh steam
coal for the Egyptian State Railways and Telegr&phs
Administration. Forms from Sir A. L. Webb, Queen
Anne’s-chambers, Westminster, London, S.W., on payment
of 2s.*

Cashel, July 2.—About 350 tons of best screened gas coal
for the Urban Council. Tenders to J. O’Leary, clerk,
Cashel.

Chiswick, July 6.—Coal and coke for the Urban District
Council. Forms from E. Willis, surveyor, Town Hall.

Ghorley, June 29.—Coal and slack for the Ghorley Joint
Hospital Board. Forms from R. E. Stanton, clerk, High-
street.

Cork, July 2.—1,000 tons of through and through steam
coal for the Committee of the Cork Sanitation Doneraile.
Forms from E. J. Murthy, secretary.

Croydon, June 28.—House and steam coal and coke for
the Guardians. Forms from H. List, clerk, Union Offices,
Mayday-road, Thornton Heath.

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