THE COLLIERY GUARDIAN 919 November 10, 1916. _________________________________________________________________________________________________________________________ COAL, IRON AND ENGINEERING COMPANIES. REPORTS AND DIVIDENDS. Cory (William) and Son Limited. — The directors have declared an interim dividend on the ordinary and employees’ shares of 4 per cent., less tax, on account of the year ending March 31, 1917. Dorman, Long and Company Limited. — The directors announce a dividend of 4 per cent., making, with the interim dividend, 8 per cent., and, in addition, a bonus of 6 per cent., both free of tax, for the year ended September 30. Kerr, Stuart and Company Limited.—The report for the year to July 31 shows that, after writing off the usual and special depreciation, providing for income-tax, and war taxa- tion, the net profits are £27,223, and adding T9,357 brought forward, there is a disposable balance of £36,581. It is proposed to pay a dividend on the ordinary shares at 12| per cent, for the year, free of tax, and to place to general reserve account £7,500, leaving to be carried forward £10,581. The general reserve will then stand at £42,500, in addition to the capital reserve of £3,662. It is proposed to continue the payment of interim dividends on the ordinary shares quar- terly, as commenced January 31 last. Kyshtim Corporation Limited.—The report for the year ended January 13 last states that the interest and commis- sion receipts, together with the net available balance left at the disposal of the shareholders of the Russian company, amount to £97,987. The amount standing to the credit of income and expenditure account has been applied to deben- ture interest and redemption, standing charges, general expenses, etc., in London, leaving a credit balance of £220,035 to appropriation account, after providing for income-tax. The directors recommend as a dividend the payment in Petrograd of one rouble per share, free of British income-tax. Middleburg Steam Coal and Coke Company Limited.— The report for the year ended June 30 states that the output of coal aggregated 297,224 tons, an increase of 25,490 tons on the previous year. The quality of the production has maintained its high standard in every respect, and has given every satisfaction to the customers. Including £4,390 brought forward, the profits amounted to £21,723. The directors have placed a further £2,500 to the investment reserve fund, which brings that fund up to £12,500, and propose to distribute a final dividend of 3| per cent., making 7J per cent, for the whole year, which will leave £2,502 to carry forward. Adequate provision has been made for depreciation. Nimmo (James) and Company Limited. — The accounts, after providing for excess profits duty, etc., show a divisible balance of £96,666. The directors recommend that £30,000 be added to the reserve fund, and that a dividend of 20 per cent., free of tax, be paid on the ordinary shares, leaving £38,.541 to be carried forward. The ordinary shares received 10 per cent, for 1914-15, £12,500 being reserved, and £33,456 carried forward. For 1913-14 the distribution was 6 per cent., with £10,000 reserved and £20,584 carried over, while the dividends were 15 per cent, for 1912-13 and 10 per cent, for 1911-12, sums of £33,484 and £12,500 being set aside on the respective occasions. North Wales Iron and Manganese Company Limited.— Dividend of 5 per cent., free of tax. Shotts Iron Company Limited.—Dividend of 6s. per share, free of tax, on ordinary. Skinner and Holford Limited.—The directors recommend a final dividend of 2s. per 'share, free of tax, making, with the interim dividend of Is. per shaie, 3s. per share for the year. United Steel Corporation.—A dividend of 1| per cent., and an extra 1 per cent, on the common stock have been declared. NEW COMPANIES. Canadian Car and Foundry Company (England) Limited. Private company. Registered October 31. To buy, sell, and otherwise deal in trucks, locomotives, and rolling stock of every desciiption, and all appliances therewith. Nominal capital, £25,000 in 25,000 £1 shares. Directors : W. F. Angus, K. W. Blackwell, W. W. Butler, G-. Condon, the Hon. N. Curry, A. E. Messer, A. E. Nichols, and F. A. Skelton. Cilrhedyn Anthracite Collieries Limited. — Private com- pany. Registered office, 3, Gresham-buildings, Basinghall- street, E.C. Registered November 3. Nature of business indicated by title. Nominal capital, £6,250 in 125,000 Is. shaies. The director's to be appointed by the subscribers. No qualification. Subscribers (one share each) : J. Kimber and B. de Quincey. Engineers’ Designing Company Limited.—Private com- pany. Registered November 1. To carry on business of engineers, iron and brassi founders, metal workers, etc. Nominal capital, £1,000 in 1,000 £1 shares. Subscribers (one share each) : F. Sidney and I. E. Fisher. Highgate Colliery Company Limited.—Registered Oct. 28. Nature of business indicated by title. Nominal capital, £5,000 in 5,000 £1 shares. Directors : W. Baxter, J. Ha wks worth, E. E. Downing, and H. B. Denton. High-Speed Grinding Company Limited.—Private com- pany. Registered November 2. To carry on in Sheffield and elsewhere the business of grinders of steel, engineers, metal workers, tool makers, etc. Nominal capital, £1,500 in £1 ordinary shares. Directors to be appointed by sub- scribers. Qualification, 50 ordinary shares. Subscribers : S. F. Dickins and G. H. Warren. Milton Manufacturing Company Limited.—Private com- pany. Registered October 28. To carry on business of mechanical and electrical engineers and manufacturers. Nominal capital, £60,000 in 10,000 £1 preference shares and 50,000 £1 ordinary shares. Directors to be appointed by the subscribers. Qualification, £100. Subscribers (one share each) : P. W. B. Tippett and J. Warton. Mountford (John) and Company Limited.—Private com- pany. Registered office, 2 and 4, Huime-street, Manchester. Registered October 31. To acquire and take over business of engineers now carried on by F. Mountford, H. Mountford, and Effie Mountford at above address and at Colliery-street, Clayton. Nominal capital, £5,000 in 5,000 £1 shares. Directors : F. B., H., and Effie Mountford. Qualification, £100. Partners’ Trust Limited.—Private company. Registered office, 2, Austin Friars, E.C. Registered October 31. To carry on business as engineers, machinists, mine owners, etc. Nominal capital, £10,500 in 10,000 £1 ordinary shares and 10,000 Is. management shares. Subscribers (one share each) : F. A. Bagnell and P. W. Edelston. Vickers (B. R.) (Leeds) Engineering Company Limited. —Private company. Registered office, Gascoigne-street, Boar-lane, Leeds. Registered November 3. To acquire and take over the engineering department of Benjamin R. Vickers and Sons Limited, of the city of Leeds, and to carry on business of manufacturers and dealers in metals, engines, boilers, turbines, propellers, and other appliances in con- nection with steam and other vessels, aircraft, etc. Nominal capital, £5,000 in 5,000 £1 ordinary shares. Directors : B. T. Vickers, J. A. Kershaw, W. F. Vickers, and A. J. Lebeda. Qualification, £50. Widnes Refineries (London) Limited.—Private company. Registered office, 19, St. Dunstan’s-hill, E.C. Registered Octcber 31. To carry on business of coal and tar distillers, manufacturers and dealers in benzol and all other products of tar. Nominal capital, £2,000 in 1,000 £1 ordinary shares and 1,000 £1 preference shares. Directors : S. P. and R. F. Pellatt. 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. ___________________________ THE FREIGHT MARKET. The past week has witnessed absolutely no improvement so far as coal tonnage supplies are concerned, and the result has been something akin to stagnation in the outward markets. South Wales is now getting its turn so far as great scarcity of steamers is concerned, and the tale of chartering done there is actually less than that which has been recorded on the north-east coast—a very unsual state of things. The few fixtures arranged at Bristol Channel ports have been done at very firm figures. Excepting that Huelva is 3s. 6d. advanced, and ^hat Algiers is rather dearer, there is no noteworthy alteration in rates on the week. On the north- east coast, figures in most “ unrestricted ” directions have smartly increased. Thus, the Baltic is dearer by from 6 to 8 kr. to Drammen from the Tyne, Lisbon is 2s. 6d. higher, and London is 2s. more. Mediterranean rates are rather variable. Oran, for instance, is Is. risen, but Port Said, influenced doubtless by the limited rates now enforced for Italy, has receded by 2s. 6d. Coke rates for French Atlantic ports have advanced from Is. to Is. 6d. A feature of the outward market this week is the comparatively large number of fixtures Baltic-wise from northern ports. There is, we are glad to see, some indication of the silver lining to the cloud which overhangs the coal tonnage charter- ing market. It appears in the shape of the announcement that the Norwegian War Risks Club has agreed to insure Norwegian vessels engaged in the trade between the United Kingdom and France. At the time of writing, details with reference to this new insurance do not appear to have been quite fixed up, but hopes are entertained that a very few days will see the Scandinavian steamers once more plying between Allied ports. Thus, the tonnage shortage will be minimised to some extent, although the great detention at French Atlantic ports still requires very drastic handling. In connection with this topic of detention, it is well to note that Messrs. Hanson, Brown and Company, of Middles- brough, have just issued a timely reminder that detention is by no means a monopoly of the French, but that we, in this country, are guilty of it at times. The Tees-side firm avers that Cleveland iron masters are in the habit of using ore-laden steamers virtually as warehouses, keeping the cargoes on board until it is convenient to transfer them straight to the blast furnaces, thereby saving warehousing charges to themselves. Obviously, with the present attri- tion of our mercantile marine, that ought not to be per- mitted, especially as the firm points out that cases are not unknown in which two vessels have left Bilbao, one bound for the Tees and the other for Rotterdam, and that the latter vessel has discharged her cargo at Rotterdam and loaded another cargo at the Tyne before the Tees-bound vessel has succeeded in getting clear of her iron ore. Thus, despite the fact that Rotterdam port charges are 50 per cent, above those of Middlesbrough, freights from Bilbao to Rotterdam are now—and have been ever since 1911—lower than those from Bilbao to the Tees. Such facts should need only stating to be remedied; and it must be borne in mind that Middlesbrought is not the only sinner amongst the home ports. At the moment, avoidable detention of tonnage is an enemy which should be got rid of wherever found. Homewards, the same shortage of tonnage handicaps trans- actions. The River Plate is dull and easier, with 120s. paid for December shipment from up-river ports to the United Kingdom, and 120s. from down-river for Dec.-Jan. For earlier loading, the rates run from 120s. to 125s., according to loading port. At the United States, grain tonnage is in limited demand, at 16s., Northern Range to United Kingdom for maize, and 17s., Gulf to Mediterranean. Net form busi- ness is rather brighter, with Northern Range to French Atlantic quoted at from 92s. 6d. to 95s. Cotton would pay up to 275s., Gulf to Havre. Coal and lumber tonnage chartering is quiet and featureless. Eastern rates are very firm, and are advancing owing to the inadequacy of tonnage to meet requirements. Thus, Saigon is quoted- at 190s. to France, new season, and Burmah at from 160s. to 165s. From Bombay to United Kingdom, from 155s. to 157s. 6d. is mentioned for d.w. tonnage, Calcutta is fully 200s., the Madras Coast is at 235s. for kernels, and Kurrachee 125s. on scale. The Mediterranean ore ports are very firm, and are taking up a considerable amount of tonnage. Later. — The gravity of the tonnage position may be gauged by the fact that, at the time of writing, there are from 50 to 60 orders on the Tyne coal freight market for Genoa, and not a single steamer on offer. Tyne to Boulogne, 550, 41s., coke; Barcelona, 3,800, 62s.; 1,700, 62s. 6d.; 3,000, 62s. 6d.; 2,000, 62s. 6d.; Cadiz, 2,000, 55s.; Calais, 550, 41s., coke; 700, 41s. 6d., coke; Copenhagen, 2,000, 31 kr.; Dieppe, 300, 41s. 6d., coke; Drammen, 1,500, 24| kr.; 1,500, 32 kr.; 2,500, 30 kr.; Dunkirk, 300, 41s. 6d., coke; 550, 41s., coke; 750, 41s. 6d., coke; 700, 41s. 6d., coke; Genoa, 4,700, 5,000, 2,000, 4,500, 4,000, 64s. 6d.; 1,500, 90s., coke; Granville, 300, 41s. 6d., coke; Gothenburg, 6,000, 29|kr-., voyages to the end of December; Gibraltar, 2,000, 40s.; Las Palmas, 2,500, 35s.; 3,500, 35s.; 2,200, 35s.; London, 1,600, 14s.; 600, 14s., voyages; Lisbon, 2,500, 42s. 6d.; Mentone, 1,000, 71s.; Madeira, 2,200, 35s.; Northern French Range, 450, 42s. 6d., coke; 350, 41s. 6d., coke; 500, 41s., coke; 750, 41s. 6d., coke; Oran, 2,000, 52s. 6d.; 2,400, 53s. 6d.; 2,000, 53s. 6d.; 4,000, 53s. 6d.; Porto Ferrajo, 7,000, 62s. 6d.; Port Said, 4,000, 60s.; Rouen, 300, 41s. 6d., coke; 1,500, 41s., coke, voyages; Savona, 4,700, 64s. 6d. Cardiff to Alicante, 3,200, 50s.; 3,500, 52s. 6d.; Algiers, 2,700, 48s. 6d.; Aden, 6,000, 62s. 6d.; Bordeaux, 3,500, 34s.; Dakar, 5,000, 30s.; Gibraltar, 2,000, 32s. 6d., 500; 3,000, 32s. 6d., 500; Huelva, 2,000, 32s. 6d., 500; Oporto, 1,400, 34s.; 800, 34s.; Port Said, 4,300, 60s.; Palma, 1,500, 50s.; St. Nazaire, with options, 2,700, 29s.; St. Michaels, 2,700, 27s. 6d.; Tarragona, 4,000, 51s. Swansea to Dublin, 300, 13s.; St. Malo, 700, 22s.; Algiers, 4,200, 49s. 3d., fuel; Valencia, 2,000, 45s. coal, 45s. 9d. fuel; Corcubion, 950, 35s.; Trapani, 1,100, 67s. 6d. Newport to Aguillas, 800, 47s. 6d. Troon to St. Brieux, 31s. Wales to Lisbon, 1,750, 31s. 6d., 500, Nov. 4; Huelva or Gibraltar, 2,000, 32s. 6d. Hull to Barcelona, 1,300, 62s. 6d.; Rouen, 1,500, 27s. 6d.; Stavanger, 650, 34 kr. Humber to Stavanger, 600, 34 kr. Blyth to Copenhagen, 2,000, 32 kr. Hartlepool to Christiania, 500, 32 kr.; Kallundberg, 500, 32 kr. Leith to North Norway, 1,250 , 38 kr. Neath Abbey to Cork, 300, 15s. 6d. Goole to London, 1,100, 13s. ____________________________ OBITUARY. Mr. T. L. Horne, for many years manager of Gartshore Collieries, died at his residence, Twechar, Kilsyth. Mr. T. W. Steven, general manager, Young’s Oil Com- pany, West Calder, died in Glasgow Royal Infirmary, the result of an accident. Deceased gentleman, while crossing West George-street, was run into by a taxi-cab, and received injuries to his spine, and died in the infirmary the same day. Mr. Steven, who was about 60 years of age, was well known in commercial circles. Mr. John Williamson, who for many years was one of Ryhope Colliery’s most respected officials, has died at the age of 77 years. He commenced work at the age of nine years at West Holywell Colliery as a helper-up, a-t a time when it was all hand putting. After working there 12 years, he removed to Ryhope in 1861, and for nearly 50 years there- after worked at the local colliery, holding various official positions in his later years. He retired six years ago. ____________________________ Lord Rhondda’s New Purchase. — The business of A. Wulfing and Company, manufacturers of Sanatogen and Formamint, has been purchased from the Board of Trade by Lord Rhondda, in conjunction wriih Mr. A. Mitchelson, Mr. J. Stanley Holmes, and Mr. J. Gomer Berry. The business will henceforth be entirely British. It is stated that the price paid for the business was £360,000. Imports of Pit Props.—In October, 129,723 loads of pit props, of the value of £476,560, were imported into the United Kingdom. The imports in October last year were 182,577 loads, value £588,428; and in October of the pre- ceding year 238,804 loads, value £399,483. The total imports during the 10 months were 1,799,101 loads, valued at £6,108,064, as compared with 1,843,590 loads, valued at £3,718,113, in the corresponding period of 1915, and 2,159,729 loads, value £2,708,765, in the 10 months of 1914. Miners’ Red Cross Ambulances. — A Red Cross unit, organised by the Joint War Committee of the British Red Cross Society and the Order of St. John, is leaving for Roumania. This unit is a gift from the miners of Great Britain, who voted funds to meet all expenses in connection with its formation and equipment. There will be four ambulances and one touring car, under the charge of Dr. A. P. O’Leary, with 25 of a staff. The unit will be thoroughly equipped for X-ray and dental work, in addition to the ordinary surgical service in the field, and all the members are thoroughly qualified for any duties they may be called upon to undertake. Several have already seen service abroad. The cars, together with 120 tons of stores and supplies, are being sent in advance from the Red Cross headquarters, 83, Pall Mall, S.W. Exports and Imports of Mining Machinery.—The value of imports and exports of mining machinery during October are given below :— October. Jan.-Oct. ______________ _______________ 1915. 1916. 1915. 1916. £ £ £ £ Imports .......... 6,031 ... 15,071 ... 74,279 .. 120,392 Exports .......... 43,429 ... 56,725 .. 488,082 ...585,659 These figures are not inclusive of prime movers or electrical machinery. According to destination, the value of exports was as under :— October. Jan.-Oct. _______________ _______________ 1915. 1916. 1915. 1916. To— £ £ £ £ Countries in Europe ... 4,705 ... 7,929 ...51,467 ... 50,376 United States of America... 32 ... 20 .. 145 ... 669 Countries in S. America ... 1,781 ... 1,145 ...17,147 ... 18,996 British South Africa ... 18,711 ...30,893 ..212,966 ...294,536 ,. East Indies ...... 6.812 ... 7,046 ...49,047 ... 73.311 Australia ................ 2,361 ... 2,661 ...21,485 ... 18,931 New Zealand ........... 1,525 ... 16 9,812 ... 11,212 Other countries .......... 7,502 ... 7,015 ..126,013 ...117,628 Total .............. 43,429 ...56,725 ..488,082 ...585,659 The following shows the value of exports of prime movers other than electrical :— October. Jan.-Oct. _________________ ______________ 1915. 1916. 1915. 1916. All prime movers (except £ £ £ £ electrical) .......... 381,797... 289,394... 5,232,784... 3,538,558 Rail locomotives ...... 148,901... 99,910...2,228.022... 1,023,865 Pumping ........ 32,620 39,645... 398,933... 435,236 Winding ............... 292... 327... 12,584... 13,634