574 THE COLLIERY GUARDIAN. March 24, 1916. OBITUARY. Mr. W. H. Lloyd, who died on Monday, aged 76, was one of the founders of the Weldless Steel Tube Company. Mr. William Washington, aged over 70, who for 30 years was manager of the Mitchell’s and Darfield Main Collieries, Womb well, died on Monday. By error, the initials of the late Mr. Charles Edward Parker, London agent to the Wigan Coal and Iron Company Limited, were given as “ C. M.” in our last issue. Mr. Wm. A. Hewitson, aged 32, traffic manager at Thrislington Colliery, West Cornforth, has died after a week’s illness. Before receiving the appointment at Thrislington, Mr. Hewitson was clerk and cashier at the Old Slag Works. The death recently occurred of Mr. George Thomas Stephens, of Coleford, Dean Eorest. Deceased, who was 67, had some time since retired from life-long activities in colliery pursuits in the West Dean township of the Gloucestershire coal field. The death has occurred of Mr. John Stevens, aged 66, managing director of the Granville Colliery Company, Swadlincote. He directed the Granville Company for 25 years, and at one time was associated with several Yorkshire pits, amongst which was the Darfield Colliery. The death is announced of Mr. John T. Walton, a director of the East Pontop Coal Company Limited and the Shildon Colliery Company Limited. He was for many years com- mercial manager to Messrs. Bolckow, Vaughan and Company Limited. COAL, IRON AND ENGINEERING COMPANIES. REPORTS AND DIVIDENDS. Addie (Robert) and Sons’ Collieries Limited.—Dividend of 6 per cent., less tax, on the ordinary shares for the year; 112,917 to special reserve, making £19,6'2i7; £16,546 for- ward. Under article 128, £15,000 of the special reserve fund falls to be repaid to the preference shareholders, and the capital correspondingly reduced. Arroll (Sir William) and Company Limited.—The report for 1915 shows a gross profit of £119,060, and the balance from last year is £15,799. It is recommended appropriating to depreciation, fund £12,000, reserve £8,727, fund for equalising dividends £10,000, dividend of 10 per cent, on the ordinary shares, free of tax, 120,000, carrying forward 154,856, subject to claims for war profits. Baldwins Limited.—The directors have declared an interim dividend of 2| per cent., free of tax, on ordinary shares for half-year to December 31, payable April 7. Bengal Ivon and Steel Company Limited.—The profit for the year ended September is .1167,744, including the balance brought forward. A sum of £20,480 is put to depreciation and colliery sinking funds, and £20,000 to the reserve. Four distributions of 6 per cent, each on the ordinary shares are declared for the year, leaving £42,392 to be carried forward. British Electric Transformer Company Limited. — The report for the year 191'5 states that after paying all costs and expenses there remains a net profit of £21,095, and with £3,477 brought in, £24,572. The board, after placing £7,500 to reserve, £1,500 to depreciation reserve, and paying prefer- ence- dividend of 6 per cent., recommend a dividend of 4| per cent, on ordinary, making 71 per cent, for year, carrying forward £4,604. British Westinghouse Electric and Manufacturing Com- pany Limited.—The Board have decided to pay a dividend on the preference shares for the year at the rate of 7^ per cent. Clyde Valley Electrical Power Company Limited. — The report for half-year to December 31 shows profit £47,466, brought in £12,430, transfer £25,000 to contingency fund for depreciation, etc. (making £150,000). It is recommended to transfer to special reserve £5,259; writing off balance of costs of Acts, 1901, 1904, and 1912, £8,353; dividend on prefer- ence shares to April 30, 1916, £9,000; and carry forward £12,613. The amount carried to contingency fund has again been increased, in view of the continued exceptional condi- tions. Coltnes Iron Company Limited. — The directors have declared the usual half-yearly dividends on the first and second preference shares, and an interim dividend on the ordinary shares of 4 per cent, (actual) for the year ending July 31, 1916. The interim dividend on the ordinary shares intimated a year ago was also 4 per cent, (actual). Cottonwood Collieries Company Limited.—A further divi- dend of 2J- per cent. (6d. per share), less tax, on account of the present financial year has been paid. Dorman, Long and Company Limited.—Report shows profit of £404,000, which, with balance forward, brings total for disbursement to £507,000. After providing for the various dividends, and a 5 per cent, bonus, £100,000 is placed to reserve, £50,000 for depreciation, and over £120,000 carried forward. Fletcher, Russell and Company Limited.—A dividend of 5 per cent., with bonus of 5 per cent., for 1915 on ordinary shares, with £5,444 to reserve fund, and £5,929 carried for- ward, against £5,485 brought in. Eor 1914 the distribution was 7J per cent., with £3,700 to reserve. Henley (W. T.) Telegraph Works Company Limited.—The report for 1915 shows a net profit of £161,109, against £119,246 in the previous year. Transfer to reserve in respect of depreciation of War Loan and other trustee securities. £4,689; transfer to'reserve account, £25,000; final dividend on ordinarv shares of 10 per cent., less tax, making 15 per cent, for the year: also bonus of 10s. per share, less tax; carry forward, £55,263. MacLellan (P. and W.) Limited. — The report for 1915 states that the net balance at credit of profit and loss, after debiting bad and doubtful debts, directors’ remuneration, and all other proper charges, including a provision for excess profit tax and contingencies, and including the balance from last year, is £70,941. Amount transferred to depreciation account £7,500, reserve fund (making it £130,000) £15,000, dividend of 6 per cent, per annum on the ordinary shares, and a surplus dividend of 2 per cent, on both the preference and'ordinary shares, carry forward £17,691. North-Eastern Steel Company Limited.—The annual report states tha.t the net profit for the year amounts to £82,302, debenture interest, etc., account for £26,580, leaving a dis- posable balance of £55,722. Of this sum the directors recom- mend that £30.000 be written off as depreciation of build- ings, plant, and machinery; £20,000 be applied in payment of a dividend of 5 per cent., free of income-tax, carrying for- ward £5,722. Robey and Company Limited. — The directors, in their report for the year ending December 31 last, state that the trading account shows a profit of £40,265 14s. 9d., and after writing off £8,970 Os. lOd. for depreciation, and providing for directors’ fees, etc., there remains a balance of £30,121 14s. 4d., from which must be deducted £7,662 10s. for debenture interest, leaving, with £5,710 15s. 5d. brought forward, an available balance of £28,169 19s. 9d. The directors recommend a dividend of 5 per cent., free of tax, carrying forward £13,402 7s. 9d. Steel Developments Limited.—Eor 1915 the accounts show an available sum of £18,237. A further dividend of 5 per cent, is recommended, making 10 per cent, for year, free of tax, the same as for 1914, and after transferring £9,000 to reserve, £1,198 is carried forward. United Collieries Limited.—The accounts for the year show a profit of £216,065. The output of coal was 2,037,655 tons, as compared with 2,236,191 tons in 1914. There has been appropriated £20,000 towards capital expenditure. The interest on first debentures “ A ” and “ B ” has been paid. There have been redeemed during the year debentures to the extent of £100,850. A further sum has been appropriated in the redemption of “ A ” debentures and “ B ” debentures to the extent of £21,600 and £7,600 respectively. United States Steel Corporation.—The annual report for the year ended December 31 last shows gross sales 726,684,000 dols., compared with 558,415,000 dols. in 1914. The net earnings amount to 130,396,000 dols., against 71,666,000 dols., and the balance surplus 44,260,000 dols., against a deficit in the previous year of 16,972,000 dols. Walker (C. and W.) Limited. —The accounts for year to January 31 show a disposable sum of £26,684. A further dividend of 5 per cent, is recommended, with a bonus of 5 per cent., making 15 per cent, for year (the same as for previous year). The sum of £5,000 is to be placed to reserve (making it £45,000), carrying forward £12,091. Yorkshire Engine Company Limited. — In their annual report, the directors state that the year’s trading shows a profit of £1,494. Debenture interest and bank charges absorb £1,135, leaving a balance of £359 to go in reduction of, the debit balance. NEW COMPANIES. Askie Engineering Company Limited.—Private company. Registered March 11. Nature of business indicated by title. Nominal capital, £1,000 in 1,000 £1 shares. First directors : F. J. Askie, R. H. Coward, and C. G. Coward. Barwick and Prosser Limited.—Private company. Regis- tered March 15. To carry on business of general carriers by land and water, railway and forwarding agents, colliery pro- prietors, miners, smelters, engineers, tool makers, steel and iron founders, gas makers, etc. Nominal capital, £10,000 in 10,000 £1 shares. First directors and subscribers (one share each) : W. H. Barwick and W. Prosser. Burt and Son Limited. — Private company. Registered March 16. To carry on business in the United Kingdom and elsewhere of exporters and importers of coal and iron. Nominal capital, £15,000 in 750 £10 ordinary shares, and 750 £10 preference shares. First permanent directors and sub- scribers (one share each) : W. Burt, S. Burt, F. W. Penny, and W. P. Brooks. Jackson (M.) and Son Limited.—Private company. Regis- tered March 13. To acquire, take over, and carry on business of coal merchant carried on as M. Jackson and Son at Louth, Lincolnshire, and elsewhere. Nominal capital, £6,000 in 2,000 £1 preference shares, and 4,000 £1 ordinary shares. First directors : S. H. Jackson, H. Drinkel, and J. R. Heslam. Rigby’s (Wednesbury) Limited.—Private company. Regis- tered office, 41, New-street, Wednesbury. Registered March 16. To acquire goodwill and carry on business of axle and spring manufacturers carried on at Wednesbury as John Riley and Sons, manufacturers of and merchants in iron- work. springs, and fittings of every description, and in all metals and materials connected with same, machine tools, etc. Nominal capital, £10,000 in 10,000 £1 ordinarv shares. First directors and subscribers (one share each) : H. R. Thomas and H. S. Thomas. 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 U.S. Imports and Exports of Fuel.—The following is a comparative statement of coal imports and exports of the United States for November 1914-15, and for the 11 months ending November 1914-15, in long tons :— November. Eleven months. Imports : 1914. 1915. 1914. 1915. Anthracite, total ... 40.. 22.. 19,335.. 2,825 Bituminous, total .. 118,673 . 135,319...1,207,281.. . 1,346,214 United Kingdom. 7,757.. 600... 16,429.. 17.187 Canada 97,386.. . 126,929... 937,833.. . 1,086,698 Japan 5,Q40.. 3,300... 55,939.. 81,519 Australia 7,490. 4,490... 194,827.. . 158,023 Other countries... 200. — 2,253. 2,787 Coke 20,926.. 2,428.. 114,862. 43,473 Exports: Anthracite, total ... 239,286.. .. 290,699 3,‘45,777.. . 9,247,277 Canada 233,856.. . 279,092 . 3,585,425.. . 3,157,615 Argentina — — — 2,469 Brazil — ’ — 6/ 2,415 Uruguay — — — 605 Other countries... 5,430.. 11,607.” 60,346” 84,173 Bituminous, total .. 850,547... .1,996,337..13,105,304. .15.600,347 Italy — . 116,244... — .. . 2.747,181 Canada 52° ,657” . 948,978...8,742,124.. . 7,725,086 Panama 11,961.. 42.549... 251,798.. 481,004 Mexico 35,277.. 11.258... 321,536.. 262,090 Cuba 103,768.. 87,446... 1,012,092... . 1,034,423 West Indies 13,809 58,216... 524,004... . 467,259 Argentina 24,039.. 27.500 . 231,943... . 759,321 Brazil 25,483 25,159 .. 260,936... . 578 473 Uruguay 4,269 — ... 70,088... 152,094 Other countries .. 111,284 .. 78,987 1,681,783 .. 1,393,416 Total coal........1,089,833... 1,687,036.16,751,081... 18,847,624 Coke .................... 32,891... 67,468... 544,098... 726,408 Bunker coal ........... 489,301... 588,291...6,775,071... 6,900,278 THE FREIGHT MARKET. The week has been characterised by a continued heavy demand for boats, and owing to the extreme shortage of ■tonnage, greatly enhanced rates have been conceded. The coal markets, on which ship owners largely depend for orders, are active, and only require tonnage to make business brisk. All boats, therefore, are very quickly taken up. The heavy weather continues to upset loading turn arrangements, and many merchants are enquiring for spot boats to take away chance cargoes thus purchased. At the Tyne, little business was done up to last week encl, owing to the great scarcity of steamers, but, since that time, arrivals have been more plentiful and regular, and operations rendered much easier. Loading turns are still fairly open and tonnage is in heavy demand. Rates have shown great strength throughout the week, and are materially advanced for all destinations. Coastwise, London has paid 16s., an advance of Is. For North France, quotations are rapidly moving forward, and 40s. has been done for Rouen, an increase of 3s. on the top figures for the previous week, whilst Havre is from 3s. to 4s. dearer. The Bay is firmer at 55s. for Bordeaux, and 52s. 6d. to 55s. for St. Nazaire, the latter an increase of from 5s. to 7s. 6d. There has been a good demand for Mediterranean tonnage, and rates remain firm for Italian and French ports on the basis of fully last week’s figures. Algiers, however, is up to 70s., and Oran has paid 67s. 6d. Several fixtures are recorded for the River Plate, at from 66s. 9d. to 72s. 6d., according to size of boat and port of discharge. The enquiry for tonnage at Cardiff is extremely heavy, but tonnage supplies are very far short of require- ments, and rates have again bounded upward, further records being set up. In the North French section, Rouen at 34s. registers an advance of from 2s. 6d. to 34s., and Calais at 36s. is 3s. higher. Baywards, Bordeaux is.from 8 to 8J fr. more, and St. Nazaire from 7 to 12J fr. dearer. In the Mediterranean market, little chartering is reported for Italian ports, but Genoa is from 6d. to Is. 6d. up at 94s., and Naples has paid 95s. 6d. For Marseilles, the extraordinary price of 125 fr. has been negotiated several times, an. increase of 15 fr. on the week. The South Mediterranean is 15 fr. up to Algiers. The River Plate is a very strong market, and rates are higher by from 12s. 6d. to 15s. fn the homeward market, merchants are holding off at the River Plate, and rates in the open market remain nominal. Government brokers now name about 120s. for United Kingdom from San Lorenzo, and about 127s. 6d. for France, for May-June loading, 123s, 6d. is indicated. Little busi- ness is passing in the American market, and grain rates are based on the slightly lower level of 15s. to the Bristol Channel, with 14s. quoted by the Wheat Committee. There is a firm demand at Montreal, with rates represented by 17s. 3d. to the Bristol Channel. Coal tonnage is in demand at Virginia, and 120s. is indicated for West Italy. The Eastern market is dull, with but little enquiry for tonnage. Indian rates are based on about 170s. from Madras Coast to Marseilles for kernels, 120s. on d.w. from Bombay to United Kingdom, and 110s. from Kurrachee to United Kingdom on scale terms, whilst ore from Bombay is paying about 90s. to Middlesbrough. The rice ports are worth rather less than 180s. to France from Saigon-Haipong, and 165s. from Burmah. Tyne to Algiers, 3,000, 65s. ; 1,800, 70s.; Bordeaux, 3,000, 55s.; 1,800, 55s.; Buenos Ayres, 4,000, 66s. 9d. ; Cherbourg, 1,000, 36s.; Cadiz, 1,900, 68s.; Carthagena, 1,800, 69s.; Fecamp, 2,700, 36s. ; Gibraltar, 2,700, 62s. 6d.; Genoa, 3,000, 95s.; 3,500, 96s.; 2,300, 97s. fid.; 3,800, 96s. 6d. • 3,000, 97s. 6d. ; 4,000, 97s. 6d.; Havre, 2,000, 34s.; 500, 35s.; 1,600, 35s.; London, 1,700, 16s.; La Rochelle, 1,600, 53s. 6d. ; Marseilles, 3,000, 92s. 6d. ; 3,000, 93s. 9d. ; 1,800, 95s., d.w.; 1,800, 93s. 9d. ; Monte Video, 5,000, 70s.; Malaga, 1,100, 68s. 6d. ; Nantes, 2,000, 52s. 6d.; Nice, 2,700, 92s. 6d.; Oran, 2,000, 67s. 6d. ; Pauillac, 3,000, 52s. fid.; River Plate, 5,000, 72s. 6d.; 8,000, 68s. ; Rouen 1.600, 37s.; 1,700, 38s. fid.; 1,700, 40s.; Savona, 2,300, 97s. 6d.; St. Nazaire, 3,000, 52s. fid.: 2,800, 55s.; 2,000, 52s. 6d.; Treport, 900, 37s.; Trouville, 1,000, 36s. fid. Cardiff to Alderney, 370, 25s. ; Alexandria, 6,000, 102s. fid., 700; Algiers, 3,800, 110 fr. ; Bordeaux, 2,000, 66 fr.; 1,600^ 66 fr.; 2,000, 67 fr.; 2,000, 71 fr.; 4,000, 70 fr. ; 3,600, 66 fr.; 2,500, 67 fr.; Buenos Ayres, 4,000, 75s., 500; Cadiz’ 1,100, 57s.; Chantenay, 2,500, 62 fr. ; Calais, 1,650, 36s.; Dieppe, 950, 31s.; Falmouth, 200, 14s.; Granville, 1,000, 31s. ; Gibraltar, 4,300, 55s., 500; 2,850, 57s. 6d., 500; Genoa 1,400, 94s.; 3,000, 94s.; La Pallice, 2,500, 62 fr.; Leghorn 1.400, 94s.; Lisbon, 750, 50s., 350; 1,400, 52s. fid.* 450: 2.400, 50s., 500; La Plata, 4,000, 75s., 500; Marseilles’ 2.600, 115 fr.; 4,500, 120 fr.; 2,500, 118 fr.; 1,400, 120 fr. ’ 3,000, 125 fr.; 3,500, 115 fr.: 3,400, 125 fr.; 2,300, 125 fr. ; Malaga-, 2,000, 62s. 6d. ; Messina, 1,900, 94s. fid, 400- Monte Video, 4,000, 71s.: 2,400 , 75s., 400; Nantes, 2,300’, 60 fr.; 1,500, 60 fr.; 2,500, 62 fr. : Naples, 4,100, 95s 6d 1,000; Oran, 2,500, 105 fr. ; 2,800. 105 fr., 600; Rouen, 34s.’ River Plate, 4,000, 67s. 6d.; 3,500, 72s. 6d., 500, April’, 72s. 6d. : Rochefort, 2,500, 62 fr. ; Savona, 1,400’, 94s.;’ Spezzia, 1,400, 94s. ; St. Nazaire, 2,000, 60 fr. ; 1,500, 60 fr. ’ 1,300, 60 fr. coal, 61 fr. fuel; 1,800, 62 fr.; 2,800,’ 60 fr. ’ 1.200, 62 fr.: 2,500 , 62 fr. : 1,200, 60 fr. ; St. Malo 700’ 26s. fid. ; 1,000, 27s.; St. Servan, 1,000, 27s. Swansea to Belfast, 650, 13s. 6d.; Genoa, Savona, Spezzia, or Leghorn, 3,000, 95s. coal, 95s. 9d. fuel; River Plate, 2,700, 70s.; Cherbourg, 300, 31s.; Calais, 300, 35s. • Treport, 600, 35s.; St. Nazaire, 3,100, 60 fr. ; Valencia, 1,350,'67s. 6d. coal, 68s. 3d. fuel: Granville, 650, 31s.; 900, 31s. 6d.: Dieppe, 1,150, 32s.; Caen, 900, 32s. 6d. ; West Italy, 3,800, 96s. Newport to Genoa, Savona, or Spezzia, 2.200, 94s. ; 2,500 95s.; Rouen, 3,000, 32s. 6d.; 1,600, 34s.; 2,100, 34s. ; Mar- seilles, 1,500, 125 fr.; Bordeaux, 1,800, 68 fr. ; St. Nazaire, 2,500, 60 fr. ; Huelva, 1,400, 50s., five voyages; Aimers’ 2.200, 110 fr.; Naples, 4,000, 93s. 6d., 1,000; Bilbao, l,2Oo’ 43s. 6d. Port Talbot to Bordeaux, 66 fr., March; 2.500, 67 fr. ; St. Nazaire, 3,100, 60 fr.; Oran, 2,800, 105 fr., 600. Hartlepool to Marseilles, 1,800, 92s. 6d. Clyde to Genoa, 3,000, 97s. 6d. Sunderland to Buenos Ayres, 63s. 9d., March. Glasgow to Genoa, Savona, or Leghorn. 97s. 6d. • Genoa 3,000, 97s. 6d. ’ Wear to Nantes, 2,000, 52s. 6d. : Fecamp. 2,500, 36s.; Buenos Ayres, 4,000, 66s. 9d.; Marseilles. 3,000, 93s. ’ Wales to Buenos Ayres, 50s., April; 45s., April. Leith to Dieppe, 36 s. Blyth to Havre, 400, 33s. 6d. Hull to Genoa or Savona, 2,300, 97s. 6d. ; Rouen, 1,700, 37s. 6d.; Italy, 95s.