December 8, 1916. THE COLLIERY GUARDIAN 1125 COAL, IRON AND ENGINEERING COMPANIES. REPORTS AND DIVIDENDS. Davy Brothers Limited.—The directors have declared an interim dividend on both the ordinary and preference shares at the rate of 5 per cent, per annum, less tax. Hornsby (Richard) and Sons Limited.—The report of the directors for the year ended September 30 shows a profit on the year’s working of .£69,502, after writing off depreciation, directors’ remuneration, and making provision for war taxa- tion. Deducting £11,750 for interest on debentures, £3,000 as interim dividend on the preference, and adding £27,547 brought forward, there is a disposable balance of £82,299. The directors now recommend a further dividend on the pre- ference for the half-year ended September 30, making 6 per cent, per annum, less tax; dividend on the ordinary at the rate of 6| per cent., less tax; and a bonus on the ordinary at the rate of 3| per cent., less tax; leaving to be carried forward £43,754. Hyderabad (Deccan) Company Limited.—The half-yearly report states that up to the end of September the output shows an improvement as compared with last year. Com- plete figures of financial results to end of July show a some- what increased profit as against same date last year. The fire, which had been walled off from the rest of the field, has been extinguished. Considerable trouble has been caused by the failure of electrical motors working the underground pumps, and efforts are being made to supply more electrical trained supervision. The Government of H.H. the Nizam have agreed to the Sasti and Naoni coal fields being worked in anticipation of the execution of a formal lease. An agree- ment has been made with a substantial Indian syndicate to work this portion on a tonnage basis, and work has already begun. An interim dividend of Is. per share, less tax, has been declared. Maltby Main Colliery Company Limited. — The directors have decided to pay an interim dividend of Is. per share, less income-tax. Natal Navigation Collieries and Estate Company Limited. —The report for the year ended June 30 states that during the year the company acquired prospecting rights over an additional area of ground. There is an increase in cash assets of £5,428, after increasing the dividend for the year by £5,437, and meeting an excess expenditure of £3,862 on capital account, also on heavy disbursements on stores, acqui- sition of new properties, income-tax, and donations to war funds. The profit on coal and coke sales shows a substantial increase, the balance of profit and loss account transferred to the appropriation account being £79,955, as against £47,588 last year. The increase has been due largely to the addi- tional 69,049 tons of output, and the increased price of coal. Petters Limited.—Interim dividend of 6d. per share, less tax, on ordinary. Power Gas Corporation.—An increase of £448 is shown in the net profit for the year to September 30, the total being £21,192. A sum of £4,200, or slightly more than a year ago, is to be added to the reserve, and the dividend will again be 6 per cent., with an increase of £2,100 in the carry forward. Redpath, Brown and Company Limited. — The annual report states that the profits of this business are subject to Munitions Exchequer payments. In view of the amount of the company’s liability not yet being determined, the balance-sheet and directors’ report will not be ready for presentation at the meeting on December 15, and the meet- ing will be adjourned. The directors are satisfied that the company’s profits for the year ending October 31, 1916, justify the declaration of the same dividends as last year, viz., 6 per cent., less income-tax, to the preference share- holders, and at the rate of 8 per cent., with a bonus of 12 per cent., free of income-tax, to the ordinary shareholders. Warwickshire Coal Company Limited.—The accounts for the year ended June 30 show a credit to revenue of £11,137, thus reducing the debit balance brought forward to £16,965. Last year a loss of £3,873 was made. Witbank Colliery Company Limited.—The report for year states that the output reached a total of 850,848 tons, an increase of 59,525 tons upon that of the preceding year. The appropriation account shows : Balance brought in, £83,699; profit realised during year, £67,174; interest, rents, and sundry revenue, £2,079. Less audit fees for previous year, £262; income-tax to June 30, 1915, £6,260; capital expen- diture for past year, £2,827; dividends declared during past year (making 25 per cent, for year), £52,500. NEW COMPANIES. Avis and Company Limited.—Private company. Regis- tered office, 33, College-lane, Bury St. Edmunds. Regis- tered November 25. To acquire the business of engineer and blacksmith at Bury St. Edmunds belonging to M. A. Bishop and M. F. Choat. Nominal capital, £1,000 in £1 shares. Directors : A. Bishop and F. W. Choate. Frost and Sons (Tividale) Limited.—Private company. Registered December 1. To acquire business of a galvanised iron manufacturer carried on by Frost and Sons at Tividale, Staffs. Nominal capital, £15,000 in £1 shares. Directors : B., R. W., S. W., and H. N. Frost. Qualification, £100. Middleham Gas and Coke Company Limited. — Private company. Registered office, Zerland-buildings, Middlesbro’. Registered November 30. To manufacture light in Middle- ham and elsewhere in the North Riding of Yorkshire. Nominal capital, £1,000 in £1 shares. Directors : E. C. Tomkins, M. T. A. Scott, and J. Blum er. Qualification, £50. Neal (E. T.) and Company Limited.—Private company. Registered November 27. To carry on business of engineers, iron, brass and other metal founders, steel, iron, boiler makers, etc. Nominal capital, £4,000 in £1 shares. Directors : E. T. Neal and J. S. Burton. Qualification, £250. Wigham (John) and Sons Limited. — Private company. Registered November 30. To carry on business of engineers, iron founders, and ship repairers formerly carried on by J. and J. R. Wigham a«t South Hylton, Durham. Nominal capital, £25,000 in 5,000 £1 preference shares and 20,000 £1 ordinary shares. Directors and subscribers (one share each) : J., J. T., J. R., and S. Wigham. Qualification, 100 ordinary shares. Wolf Safety Lamp Company (Wm. Maurice) Limited.— Private company. Registered November 30. Nature of business indicated by title. Nominal capital, £6,000 in 2,000 £1 preference shares and 8,000 10s. ordinary shares. Director, W. Maurice. Qualification, £50. Woodward, Gatty Saunt and Company Limited.—Private company. Registered office, Caxton House, Westminster, S.W. Registered Noivember 23. To carry on business of iron founders, steel makers, engineers, coppersmiths, tin- smiths. Nominal capital, £21,000 in 20,000 £1 shares and 20,000 Is. deferred shares. Company registered without articles of association. Minimum subscription, £100. Directors : W. H. Woodward, W. E. Woodward, and W. H. G. Saunt. ------ 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. 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, December 12.—The Electricity and Tram- ways Committee invite tenders either for the part or the whole of 7,000 tons of slack, to be delivered at the Electricity Works, Howley, Warrington, during six months commencing February 1, to be delivered in accordance with the conditions of specification, copies of which can be obtained from the borough electrical engineer, Howley, Warrington. A charge of £1 Is. is made, which will be returned on receipt of a bona fide tender, and 5s. will be charged for extra copies of the specification. In the alternative, the Committee invite tenders either for the part or the whole of 14,000 tons of slack, to be delivered during the 12 months commencing February 1. Tenders, addressed to the “ Chairman of the Electricity and Tramways Committee, Town Hall, Warring- ton,” must be sealed with wax, and endorsed “ Tender for slack,” and delivered not later than Tuesday, December 12. The lowest or any tender will not necessarily be accepted. Abstracts of Contracts Open. Belper, December 11.—-Coal for the Guardians. Forms from the Workhouse master, Belper. Bradford (Yorkshire), December 14. —Coal for the Guardians. Forms from the office, 22, Manor-road. Braintree, December 14.—Coal for the Guardians. Forms from the clerk, Workhouse, Booking. Bury (Lancashire).—Coal for the Guardians. Forms from the Union Offices. Cheltenham, December 17. — Coal for the Guardia/ns. Forms from the institution, Swindon-road. Clayton (Yorkshire), December 21. — Coal for the Guardians. Forms from the offices, 4, Town Hall-street. Colchester, December 11.—Coal and coke for the Guardians. Forms from the clerk. Cuckfield (Sussex), December 12.—Coal and coke for West Hylands Institution. Forms from E. J. Waugh, clerk to Guardians, Haywards Heath. East Ardsley (Yorkshire), December 18.—Coal for the Cardigan Sanatorium. Forms from F. A. Darwin, County Hall, Wakefield. Edinburgh, December 16.—Coal for the Royal Hospital for Sick Children. Forms from the matron. Galemire (Cumberland), December 18.—Coal and coke for Joint Hospital Committee. Forms from the caretaker of the hospital. Gravesend, December 13.—Coal for the Guardians. Forms from the clerk, 13, Victoria-place. Headington (Oxford), December 18.—Coal for the Guar- dians. Forms from the clerk, 126, High-street, Oxford. Keighley, December 16.—500 tons engine coal for the Corporation baths. Forms from the superintendent at the baths. Leicester, December 11.—Coal for the Guardians. Forms from offices, Pocklington’s-walk. Lewisham, December 19.—Coal for the Guardians. Forms from the offices, 394, High-street. London, December 12.—Coal for the Poplar and Stepney Sick Asylum District. Forms from S. G. Wright, clerk, Devons-road, Bow. London, E., December 14.—Coal for the Guardians of St. George’s in the East. Forms from R. M. Lochner, Raine-street, Old Gravel-lane, E. London, E., December 12.—400 tons house coal and 500 tons hard steam coal, for the Bromley Asylum, Bow. Forms from S. G. Wright, Devons-road, Bow. London, E., December 21.—Coal for Mile End Old Town Guardians. Forms from B. Catmur, Bancroft-road, Mile End.. Lowestoft, December 18.—Coal for the Mutford Guar- dians. Forms from F. W. Osborne, clerk, Crown-street Hall, Lowestoft. Melton (Suffolk). — Coal and coke for St. Audry’s Hospital, Melton. Forms from the steward. Middleton-in-Wharfedale, December 18.—Coal and coke for Sanatorium. Particulars from F. A. Darwin, County Hall, Wakefield. Newcastle, December 14. — Coal and coke for Tyne Improvement Commissioners. Forms from the secretary, Berwick-street. Oldham, December 18.—Coal for the Guardians. Forms from master, Poor Law Institution. Plumstead, December 14.—Coal and coke for Guardians. Forms from the clerk, Workhouse, Plumstead. Poplar, December 13.—Coal for the Guardians. Forms from the clerk, 45, Upper North-street, Poplar. Solihull, December 18.—Coal for the Guardians. Forms from the Union Offices. Staines, December 18.—Coal and coke for the Guardians. Forms from F. Hutchinson, clerk, Ashford, Middlesex. Stone, December 12.—Coal and coke for the Guardians. Forms from the clerk, 21, High-street, Stone, Staffordshire. Strood, December 19.—Coal for the Guardians. Forms from the clerk, Workhouse, Strood. Towcester, December 12. — Coal for the Guardians. Forms from the master, Workhouse. Westminster, December 13.—Coal for the Guardians. Forms from W. J. Lickley, clerk, Princes-row, S.W. Whalley (Lancs), December 12.—Steam slack (six or 12 months) for Queen Mary’s Military Hospital. Forms from the steward. Wigan, December 18.—Coal and slack for the Guardians. Forms from the Poor Law Institution, Wigan. The date given is the latest upon which tenders can be received. CONTRACTS OPEN FOR ENGINEERING, IRON AND STEEL WORK, Ac. Durban, January 3.—Steam Turbine, etc.—3,000kw. steam turbine, alternator, and condensing plant, for the Corporation. Forms from the borough electrical engineer, Municipal Buildings, Durban. Leicester, December 13.—Iron and steel, etc., for the Corporation. Forms (10s.) from the Town Hall. Swansea, December 23.—Stores.—Iron, steel, castings, packing, and oils (12 months) for the South Wales Anthra- cite Colliery Company Limited, Ystradgynlais, Swansea Valley. THE FREIGHT MARKET. Tonnage scarcity continues to rule the outward freight market, and to limit business very materially. The shortage is most severe on the north-east coast, where it is playing havic with the coal market. Bates for most unrestricted directions are steady from “ the Coast,” but Barcelona, singularly enough, is a marked exception to this rule, having receded by from 2s. 6d. to 5s. for Tyne loading. Coasting business continues to be done at about 15s. to London from the Tyne. Mediterranean, ports, other than France and Italy, are represented by about 50s. to Gibraltar, 53s. 6d. to Oran, and from 80s. to 82s. 6d. to Port Said. Practically nothing is doing Baltic-wise, only one fair-sized vessel having been fixed during the wTeek—38 kr. to Stockholm. French coke freights are advancing, changes in rates having been made to the tune of from Is. 6d. to 4s. in ship owners’ favour during the last few days. The Canary Islands are well maintained, at about 42s. 6d. At South Wales, the tonnage shortage, although bad enough, is noit as stringent as in the North. The “ unlimited ” Mediterranean has been done, from Cardiff, at 47s. 6d. to Gibraltar, 57s. 6d. to Barce- lona, and 80s. to Port Said, all rates which show fully firm- ness on the week. The Canaries are represented by 37s. 6d. to Las Palmas, and the Biver Plate by fixtures at from 53s. 9d. to 56s., with Monte Video arranged for at 50s. Homewards, the Biver Plate market is increasingly firm, the demand for cargo space being very considerably in excess of the amount of tonnage on offer. From up-river ports to United Kingdom, 130s. to 135s. is quoted. The latter, indeed, has been done for a handy-sized neutral vessel. At the United States, there is an active enquiry for tonnage on grain basis, and wheat cargoes are estimated as worth 18s. 6d. from Philadelphia or Baltimore to West Italy, or 16s. 6d. to French Atlantic ports. Berth rates for heavy grain are now quoted at 21s., London or Liverpool dis- charge, for March loading, and at 25s. for Jan.-Feb. ship- ment. North American coal shippers have chartered for Bio de Janeiro at 15 dols., as against 11-50 dols. less than two weeks ago, and 18 dols. for a repeat order is now indi- cated. Net form business is mentioned at 125s. Northern Bange, and 135s. Gulf to French ports. Far Eastern freights continue to advance. Tonnage is very scarce. From Madras to France with kernels is quoted at up to 285s., an increase of 25s. on the week. Bombay to Mediter- ranean on d.w. continues to be listed at 250s., whilst the rate for United Kingdom discharge has advanced by 5s., to 205s. Kurrachee is mentioned at 150s. to United Kingdom on scale, an increase of 15s. Saigon to Marseilles has risen by 37s. 6d., being now quoted at 250s., with 260s. paid for part cargo, with an option of rice meal to Liverpool at 320s. Mediterranean ore freights are very firm. Tyne to Aarhuus, 150, 38 kr., sail; Boulogne, 750, 46s. 6d., coke; 700, 46s. 6d., coke; 450, 46s. 6d., coke; Barcelona, 3,200, 70s.; 2,700, 68s. 6d.; 3,000, 62s. 6d.; 4,500, 65s.; 3,000, 90s., coke; 3,000, 65s.; 2,500, 65s.; 4,800, 65s.; Calais, 750, 46s. 6d., coke; 700, 46s. 6d., coke; 450, 46s. 6d., coke; 700, 45s., coke; 300, 45s. 6d., coke; 800, 45s. 6d., coke; Cadiz, 1,600, 60s.; Cape Verds, 1,400, 42s. 6d.; Carthagena, 1,500, 65s.; 2,700, 75s., d.w.; Dunkirk, 300, 46s. 6d., coke; 800, 45s. 6d., coke; 300 , 45s. 6d., coke; 700, 45s. 6d., coke; Dieppe, 450, 46s. 6d., coke; Gibraltar, 2,000, 50s.; London, 1,600, 15s.; 3,000, 15s.; Las Palmas, 1,800, 42s. 6d.; 42s. 6d., Dec.; Marseilles, 4,600 , 63s. 6d.; Madeira, 1,800 , 42s. 6d.; Malaga, 2,700, 57s. 6d.; North French Bange, 800, 46s. 6d., coke; 500, 46s., coke; 1,500, 46s., coke; 1,300, 46s., coke; Oran, 2,700, 53s. 6d.; Port Said, 6,500, 82s. 6d.; 4,500, 80s., part cargo; 6,500, 82s. 6d., coal and pitch (recently); Bouen, 700, 49s., coke; 700, 50s., coke; 450, 51s. 6d., coke; Stockholm, 2,400, 38 kr.; St. Vincent, 1,400, 42s. 6d.; Treport, 450, 46s. 6d., coke; Teneriffe, 1,800, 42s. 6d. Cardiff to Alexandria, 3,500, 82s. 6d., 500; Barcelona, 5,600, 57s. 6d.; Bordeaux, 240, 37s., sail; Cherbourg, 1,100 and 1,200, 23s. 6d., Dec.; Cadiz, 2,000, 50s.; Gibraltar, 1,000, 47s. 6d., 500; 1,700, 47s. 6d., 500; Las Palmas, 1,700, 37s. 6d.; 2,150, 37s. 6d.; Lisbon, 1,200, 50s., 400; 5,400, 47s. 6d., 500 ; 4,400, 47s. 6d., 500; 1,500, 50s., 500; Monte Video, 4,200, 50s., early Dec.; Oporto, 1,500, 50s.; Port Said, 6,000, 80s.; 6,800, 80s.; 65s., reported, Jan.; 4,500, 80s.; Biver Plate, 4,000, 53s. 9d.; 3,800, 56s.; Seville, 1,300, 50s., 300; Teneriffe, 1,700, 37s. 6d.; 2,150, 37s. 6d.; Vigo, 2,200, 42s. 6d.; Valencia, 2,800, 54s. 3d. coal, 55s. fuel. Swansea to Belfast, 300, 14s.; Huelva, 3,500, 46s.; Barcelona, 3,000, 57s. 6d. Newport to Vigo, 2,200, 42s. 6d.; Carthagena, 800, 62s. 6d. South Wales to Huelva, 3,500, 46s. Glasgow to Bordeaux, 37s.; Bayonne, 39s. Fowey to New York, 15s., china clay, Dec. Goole to Dieppe, 1,450 , 26s. 6d.; 900, 26s. 6d. East Coast port to Gothenburg, 1,000, 31 kr. Hull to Gothenburg, 1,700, 31 kr.; 1,450, 32 kr. Grimsby to Gothenburg, 1,700, 31 kr.; 1,450, 32 kr. Wear to Buenos Ayres, 4,000, 55s., early Dec Humber to Gothenburg, 1,500 , 32 kr. Coal Exports in November.—The returns issued by the Board of Trade contain the following details relating to British coal exports in November :—Small coal, 601 430 tons; through and through, 869,672; and large coal 1,526,950—total, 2,998,052 tons, value £3,859,213, as com- pared with a total of 3,302,771 tons, value £2,882,631, in November last year. The quantity during the 11 completed months was 35,739.210 tons, value £43,121,217, as against 40,247,529 tons, value £33,473,603, in the corresponding period, last year. The month s total of coal, coke, and manufactured fuel a^regated 3,224,557 tons, ’value £4,253,124, as against 3,469,302 tons, value £3,095 332 in November 1915. ’ ’