April 25, 1913.

THE COLLIERY GUARDIAN.

867

early May ; 5,600, 15a 9d. ; St. Nazaire, 1,900, 6| fr. ; Savona,
5,000, 8s. 6d., May 1 ; 6,500, 8s. 91., April 25 ; 4,200, 9s.,
April 28 ; 5,200, 9-5., May ; Spszzia, 6,500, 8s. 9d., April 25 ;
4,200, 9s., April 28 ; Sveaborg, 1,700, 6s. 3d.; Sheerness,
several vessels, 2s. 7|d., Admiralty ; Stockholm,900, 5s. 3d.;
Sables, 6| fr. ; Teneriff a, 4,000, 8s. 6d. ; Venice, 4,500,
10s. 9d., end April ; 500. 10l 3d., May 1 ; Valencia, 2,200,
8s. 6d. and 9s. 31. ; Vigo, 1,500, 6s. ; Villa Constitucion,
5,000, 16s., May ; Zea, 3,350, 10s.

Blyth to Riga, 3,900, 5s. 6d. ; 1,100, 5s. 9d.; 1,600, 5s.7|d.;

2.100,	5s. 6d. ; Plymouth, 900, 5s. 6d. ; Catania, 3,600, 10s. ;
Cronstadt, 2,900, 5s. 9d. ; 4,800, 5s. 6d. ; Elsinore, 1,100,
4s. 9d. ; Genoa, 6,400, 9s. 4|d. ; 3,000, 10s. ; Stockholm, 1,800,
5s. ; Helsingfors, 2,100, 5s. 7|d.

Wear to Buenos Ayres, 5.200, 18s. 3d., fuel, May.

Seaham Harbour to Bonne, 1,100, 5s. 6d.

Swansea to Naples, 3,200, 10s. ; 2,000, 10s., April; Genoa,
4,000, 9s. 4|d., May 1 ; 3,800,9s. 4|d. ; Rouen, 1,400, 5s. 9d.;
1,500, 5s. 6d. ; 800, 6s. ; 1,850, 4s. 9d.; La Pallice, 2,500,
5| fr. ; Alexandria, 4,500, 10 3. coal, 10s. 9d. fuel ; Ancona,

4.100,	Ils. 3d. and 12s. ; St. Malo, 800, 5s. 3d. ; 1,000, 5s. 6d.;
1,300, 4s. 6d. ; Cronstadt, 1,600,6s.6d. ; 1,100, 7s. 7|d., fuel;
Havre, 14s. 4|d. ; Honfleur, 720, 5s. 3d. ; 1,100, 5s. 3d. ;
Fecamp, 720, 5s. 3d. ; Stettin, 1,800, 5s. ; Port Said, 4,400,
10s., April 28; Trouville, 750, 5s. 31. ; Caen, 720, 5s. 3d.;
Calais, 1,200, 4s. 9d., April 20 ; 900,5s. Ijd.; Nice, Ils. 61. ;
Charente, 1,250, 7 fr.; London, 1,600, 4s. ; Stugsund, 1,100,
6s. ; Sivona, 4,000, 9s. 4|d., May 1 ; Leghorn, 4,000, 9s. 4|d.,
May 1 ; Dieppe, 950, 5s. 3d.

Hull to Cronstadt, 3,000, 5s. 6d., f.o.w.; 3,200, 5s. 9d.,
f.o.w. ; 2,500, 5s. 9d., f.o.w. ; 2,000, 5s. 9d., end April-early
May ; Pernau, 1.650. 5s. 6d.

Immingham to Cronstadt, 3,200, 5s. 9d., f.o.w.

East Coast coal port to Cronstadt, 3,100, 6s.

Glasgow to River Plate, 18s., coals and general cargo;
Civita Vecchia, 9s. 6d., 450; Genoa, 9s.; 9s. 4|d.; Savona,
9s.; 9s. 4£d.; Leghorn, 9s.; 9s. 4|d.

Newport to Marseilles, 3,700. 11| fr.; Gibraltar, 1,450, 8s.;
Vigo, 1.550, 6s.; Nantes, 2,200, 6 fr.; Pirseus, 3,400, 10s.;
Zea, 3,400, 10s.; Algiers, 6 000, 10 fr., Auril 28; Alexandria,

6.600,	9s. 3d., May 7; Milazzo, 2,200, Ils. 3d.; Genoa, 4,200,
9s., May 1; Bahia Blanca, 15s. 9d., April.

Fife port to Genoa, 3,300, 10s. l|d.; Savona, 3,300,
10s. l£d.; Leghorn, 3,300, 10s. l|d.

Penarth to Marseilles, 3,700, ll|fr.

Hartlepool to Norkoping, 2.500, 5s. 3d.

Grimsby to Sundsvali, 2,300, 4s. 6d.

Birkenhead to Port Said, 9s., April.
Boston to Riga, 1,500, 6s. 4£d.

Llanelly to Dieppe, 1,000,4s. 6d.; Nice, 12s.

Goole to Ghent, 750, 4s. 9d.

Methil to Dunkirk, 1,400, 4s. 4|d.

Hamburg to San Francisco, sail, 16s.

Rotterdam to Marseilles, 3,200, 10| fr., 600, 10|fr., 900;
Barcelona, 3,500, 9s.; Genoa, 3,300, 8s. 9d.; Malta, 3,300,
8s. l|d.; Havre, 1,900, 4s. 3d.; Honfleur, 1,650, 4s. 6d. •
Wallaroo, sail, 20s., coke. June-July ; Bilbao, 3,6Q0, 4s. 10|d.;
Bagnoli, 4,700, 9s. 3d.; Constanza, 1,550, Ils. l|d.

Grangemouth to Monte Video, 15s. 6d.; North Norway,
1,600,4s 6d.

Fredrikstadt to Melbourne, sail, 800 stds., 66s. 3d.;
Adelaide, sail, 65s.

Emden to Madeira, 8s. 6d.; Genoa, 6,000, 9s.; Bordeaux,
3,500, 4s. lOjd.

Liverpool to Sydney and Newcastle, N.S.W., sail, 17s.,
May.

Homeward charters:—Marianople, 4,600, Genoa or Mar-
seilles, 13 fr., option Taganrog loading 13 50 fr., ppt.; Azof,

7.600,	Genoa or Marseilles, 13 fr., April-May ; 5,600, Rotter-
dam, 10s. 9d., Antwerp, Emden or Weser 10s. 6d., Hamburg
IQs. 9d., with 3d. less barley, May 15-June 10 ; 3,800, lls.6d.

n.	c. or any, 12s. Hamburg, cancelling May 10; 7,400,
Rotterdam 10s. 3d., Antwerp, Emden or Weser 10s. 6d.,
Hamburg 10s. 9d., with 3d. less barley, May; 3,000, 10 per
cent., Rotterdam, 10s. 3d., no reduction, April-May; 4,300,
10s. 4|d., no reduction, April-May; 2,900, Rotterdam,
10s. 6d., no reduction, ppt.; Kherson, Nicolaieff or Odessa,

4.600,	Rotterdam, 9s. one port, 9s. 3d. two ports loading,
ppt.; 5,800, 9s. 4Jd , cancelling May 10; Kustendje, 3,300,
9s. 9d. n.c., option Denmark, basis 2s. extra one port, early
May; 4,200, Hamburg, 9s. 3d., ppt.; Port Pirie, 7,000,
Antwerp, 32s. 6d., ore, May; Saigon, 4,000, 10 per cent.,
Marseilles, Havre, Dunkirk or Liverpool, 28a 6d., rice, June-
July; Burmah, 2,97o net, Hamburg, 25s. 6d. one port, 26s.
two ports loading, May; San Lorenzo, 5,100, 10 per cent.,
United Kingdom-Continent, 20s. 3d. o.c., no reduction direct,
France Is extra, April-May ; 4,800, 10 per cent., 20s. 9d.

o.	c., less 6d., May ; 5,600, 10 per cent, 20s. 6d. o.c., with full
options, June-July; 3,000, 21s. o.c., less 6d., May; 3,500,
10 per cent., 2Is. o.c., less 6d., with North Spanish options,
May 1-25 ; 4,500, 10 per cent., 21s. o.c., less 6d., April-May;
5,000, 10 per cent., 20s. 6d. o.c., 6d. less, with options, April-
May ; 4*500, 10 per cent., 20s. 6d. o.c., less 6d., early May;
Northern Range, 34 000 qrs., 10 percent., Antwerp or Rotter-
dam, 2s. 3d. oats, 2s. 6d. barley, 2s. 9d.heavy grain, May; Gulf
timber port, 800 stds., 10 per cent., Delfzyl, 107s. 61., option
D^lfzyl and Tyne 110s., May; 750 stds., 10 per cent., Tyne,
107s. 6d., May; 600 stds., 10 per cent., Valencia and Barcelona,
140s., May-June ; Smyrna, 3,900. Plymouth, London or Hull,
10s. 6d., ppt.,- Almeria Pier, 3 300, West Hartlepool, 5s. 6d.,
early May; Malaga, 3,000, Rotterdam, 5s. 7|d., early May ;
time charter, New York, viA Gulf, to United Kingdom-
Continent, 8s.; time charter, trans-Pacific trade, 5s., one
trip, Newcastle, N.S.W., to Honolulu, 12 days* hire and 400
tons bunkers ; Limiona, 7s., Glasgow, option Barrow 7s. l^d.;
Cuba, 18s. 6d., Greenock, with options; Kurrachee, 16s. 9d„
United Kingdom-Continent; 2 257 net, 17s. 9d., p.p., June;
2.900 net, 17s. 6d., p.p., May-June; 2,530, 17s., pp., early
May; 6,800, p.p., 17s., less 2 per cent., spot; 17s., Liverpool,
Birkenhead or Manchester, May 25; 2,357 net, United
Kingdom-Continent, p.p., 17s. 9d., June; Sydney, N.S.W.,
7,000, United Kingdom-Continent, 32s., less 6d. direct, May ;
Norfolk or Newport News, 2,579 net, Pola, 18s., coals, May ;
Baltimore, 35,000 qrs., 10 per cent., Avonmouth or Rotterdam
2s. 7|d., Hamburg 2s. 9d, May; La Plata, 6,500, 10 per
cent., United Kingdom-Continent, 18s. 6d. o.c., less 6d., less
3d. more if Rotterdam, spot; Nicolaiefsk and Vladivostock,
6,000,5 per cent., United Kingdom-Continent; Copenhagen,
Stettin, 30s. one port, 30s. 6d. two ports discharge, J une-
July; nitrate ports, sail, 30s. 6d., United Kingdom-Con-
tinent; 31s., new season; 30s., Antwerp, Rotterdam or
Hamburg, October-November ; Rosario, sail, 20s. 6d., Cape
Town, May; 20s. 3d.; Newcastle, N.S.W., sail, 25s., Taltal,
Talcahuano Range, June; 24s. 6d., July; time charter,
general trades, 4s. 4|d., 12 months; time charter, States

COAL, IRON AND ENGINEERING COMPANIES.

Amman Valley Collieries Limited.—In the Chancery
Division, on the 18th inst., Mr. Justice Warrington had
before him a motion by the plaintiff in the action of Goodall
v. the Amman Valley Collieries Limited for the appoint-
ment of a receiver and manager.—Mr. Manning said the
plaintiff was the sole debenture holder of the company, and,
though the debenture was not due until July 20 next, the
date of payment had been accelerated by the fact that in
February last the company passed a resolution for a volun-
tary winding-up. The property of the company consisted
of collieries in South Wales.—Mr. Cairns, for the company,
said he could only consent to the appointing of a receiver
and manager and to the usual judgment in a debenture
holder’s action.—His lordship appointed plaintiff’s nominee
receiver and manager, with liberty to act at once, but not
to act as manager beyond the end of Trinity sittings without
the leave of the judge in chambers.

Anglo-French Navigation Coal Limited.—Two interim
dividends, Nos. 3 ana 4, of 3| per cent, and 6| per cent,
respectively, have been declared payable to holders of
preference shares. These dividends absorbed £12,000, and
after making allowance for £1,864 brought forward from
the previous year, there remained an amount of .£1,553 to
be carried forward. The contingent liability in respect of
the cumulative preference dividend stood at the end of the
year at £31,030, or .£3,600 less than the previous year’s
figure.

Babcock and Wilcox Limited.—The report of Babcock
and Wilcox Limited for 1912 states that the net profit
during the year amounts to .£426,147, which, with the
balance brought forward of £69,467, makes a balance of
£495,614. An interim dividend of 7 per cent, on the
ordinary shares has been paid, and the directors recommend
a further dividend of 9 per cent, on these shares (free of
income-tax), placing to the reserve fund £150,000, to the
staff pension fund .£10,000, and leaving to be carried forward
£64,013. The directors recommend the issue of .£200,000 in
5 per cent, cumulative second preference shares at par. It is
proposed to offer these shares to the holders of the present
preference shares.

Cotton Powder Company Limited.—The report for the
eight months ended December 31 last states that the
accounts for this period show an improvement and satis-
factory profits have been earned. The profit for the eight
months is .£33,801, to which has to be added the balance
brought forward, .£1 341, making a total profit to be dealt
with of £35,143. The board recommend a dividend on the
ordinary shares at the rate of 10 per cent, per annum for
the eight months, the transfer to reserve of .£15,000 and
towards reconstruction of the Faversham factory .£10,000,
carrying forward £4,276.

Cragg, Ramskir and Catley Limited. — This private
company has been registered, with a capital of .£10,000 in
£1 shares, to carry on business of colliery owners, agents,
coalmasters, &c. First directors, W. O. Catley, G. G.
Ramskir and W. T. Catley. Qualification, 500 shares.

Desford Coal Company Limited.—The directors have
declared a dividend of 2s. per share (10 per cent.) and a
bonus of 3s. per share (15 per cent.) free of tax.

Duffryn Rhondda Colliery Company Limited.—The tenth
annual meeting was held at Swansea on the 17th inst.,
Mr. D. A. Thomas (chairman and managing director) in the
chair. The balance-sheet showed a loss during the past
year amounting to £26,000, bringing, with the debit balance
brought forward, the total debit up to -657,000. The report
was adopted, and at the close an extraordinary meeting was
held, when resolutions were passed authorising the creation
of 70,000 10 per cent, pre-preference shares of .£1 each to
provide the necessary capital to sink pits down to steam
coal measures. It was further resolved to write down the
ordinary shares by one-half.

Elandslaagte Collieries Limited.—The directors have
declared a dividend of 2| per cent.

Lossiemouth Coal Company Limited. — This company
has been registered in Edinburgh, with a capital of £1,000
in £1 shares, to carry on business as coal importers and
merchants. First directors, C. A. Hay, G. Campbell, D.
Gault, J. Gault, G. McKenzie, A. Mitchell and W. Cormack.
Qualification, 50 shares. Regi}tered office, The Coal Store,
Shore-street, Lossiemouth.

Nicholls (F. J. W.) and Co. Limited.—This private com-
pany has been registered, with a capital of .£2,500 in £1
shares, to take over the business of coal merchants, &c.,
carried on by F. J. W. Nicholls and R. F. Selmon at

and River Plate, 6s. 3d., one trip, New York to River
Plate ; Bay Chaleur, 1,600 stds., West Britain-
East Ireland, 60s., May-June; Hornillo Bay, 4,400,
Glasgow, 6s. 6d. ; Nicolaieff, Odessa, Novorossisk
or Theodosia, 5,700, Rotterdam, 9s. 3d., cancelling May 15 ;
Taganrog, Marianople or Berdiansk, 3,300, 10 per cent.,
Rotterdam, 10s. 4|1., no reduction, cancelling May 10;
West Australia, 2,642 net, Bombay, 32s., May; 3,188, Cape
Town, 37s. 6d., May-June; Calcutta, 2,470 net, Penang,
Rs. 6’4, May; Bombay, 2,593 net, Japan, 12s. one port,
12s. 61. two ports, spot; New York, 3,207 net, Far East,
basis 24 c., May-June ; Buenos Ayres - La Plata, 5,000,
10 per cent., United Kingdom-Continent, 19s. o.c., less 6d.,
option Adriatic 2 a 6d. extra one port, 3s. 6d. two ports, May;
Carthagena or Porman, 1,693 net, Rotterdam, 7s. 3d. f.t.,
ppt.; Port Vendres, 4,000, Rotterdam, 5s. 4|d., spot; La
Goulette, 3,500, Tyne, Middlesbrough or West Hartlepool,
8s. 3d., ppt. ; 4,700, Rotterdam, 7s. 9d., ppt.; Bayonne, 629
net, Cardiff, 6s. 6d., end April; Gulf timber port, sail,
16| dols., Rio de Janeiro; South Australia, sail, 26s., Callao ;
Newcastle, N.S. W., 17s., Java; Burmah, 25s. 6d. one port,
26s. two ports loading, Hamburg; Nicolaieff, 4.800, London
and Barry, 10s. 3d., ppt.; Ismail, 3,400, 12s. 3d. n.c. or any,
12s. 9d. Hamburg, option Sulina, Is. 6d. less, ppt.; South
Japan, 2,835 net, Manila, about 6a 6d., April-May; Poti,
4,500, Rotterdam, Ils., early May; Bahia Blanca, 4,300,
10 per cent., United Kingdom-Continent, 20s. o.c., less 6d.,
with Mediterranean options, spot; Ergasteria and Dardesa,
4,700, Antwerp, 8s., April 28; Almeria, 3,500, Ayr, 6s. 3d.,
ppt.; Santander, 1,200, Herrenwieck, 6s. 9d., ppt.; Sicily,
two ports, 2,400, South Finland, three ports, 10s. 9d.,
sulphur, April; St. John, N.B., 52s. 6d, Limerick, July;
52s. 6d., Bristol Channel, June; Savannah, 43s. 9d., United
Kingdom-Continent.

Plymouth, as F. J. W. Nicholls and Co. First directors :
F. J. W. Nicholls and R. F. Selmon (permanent managing
directors).

Pentre Collieries and Brickworks Limited. — This
private company has been registered, with a capital of
.£10,000 in £1 shares, to carry on the business indicated by
the title. The subscribers are: W. H. Reynolds, 8, Uplands-
terrace, Swansea, colliery agent; T. G. Richard, Ravenhill,
near Swansea, colliery proprietor; S. D. Reynolds, 8,
Uplands-terrace, Swansea, secretary. The number of
directors is not to be less than three nor more than five.
The first are W. H. Reynolds, T. G. Richard and S. D.
Reynolds. Registered office, 17, Wind-street, Swansea.

Pickford, Holland and Co. Limited.—This private com-
pany has just been registered, with a capital of £1,000 in £1
shares, to take over the business of mine and quarry owners,
manufacturers of and dealers in ganister, ground ganister,
silica bricks, firebricks, steel moulders’ composition, and
fire-resisting goods, carried on by J. J. Pickford, J. Holland
and R. J. Pickford at Sheffield and at Crook (Durham) as
Pickford, Holland and Co. The subscribers are: J. J. Pickford,
Newstead, Grindleford, near Sheffield, manufacturer; J.
Holland, The Gables, Grindleford, near Sheffield, manufac-
turer ; R. J. Pickford, Thornlea, Darlington, manufacturer;
J. G. Lee, 56, Broom grove-road, Sheffield, cashier.

Porter Hill Limited.—This private company has been
registered, with a capital of £2,000 in 10s. shares, to take
over the business of a coal merchant carried on by G. F. A.
Vallance at Plaistow. First directors: T. A. Harvey, M. J.
Meyerotte (chairman), E. A. Hempel, and B. T. Hempel
(managing director). Registered office: 17, Kelland-road,
Plaistow.

Powell’s Merthyr Navigation Coal Company Limited.—
This private company has been registered, with a capital of
£50,000 in £1 shares, to carry on the business of coal
contractors, exporters, owners, merchants and brokers,
colliery proprietors, coke and patent fuel merchants, &c.
The signatories are: T. L. Powell, 110, Bute-street, Cardiff,
coal exporter; J. P. Cadogan, 71, Ninian-road, Cardiff,
shipowner; Mrs. I. Powell, 19, Richards-terrace, Cardiff;
W. A. Noel, 110, Bute-street, Cardiff, shipbroker. T. L.
Powell is the first director. Qualification, 500 shares.
Registered office : 110, Bute-street, Cardiff.

Scottish Iron and Steel Company Limited.—The first
aunual report states that the profits amount to £71,381.
Management salaries, head office expenses, &c., absorb
£16,621; interest, £14,176 ; debenture interest, £6 210; and
sinking fund for redemption of debenture stock, £8,789. The
directors recommend payment of the dividend on the
preference shares, that £3,750 be added to sinking fund for
redemption of debenture stock, and £13 500 transferred to
profits appropriation account for ordinary shares, being
equal to a dividend for six months on the ordinary shares at
the rate of 6 per cent, per annum, which sum the directors
have decided to applv in reduction of preliminary expenses
account, leaving, subject to auditors’fees, an unappropriated
balance of £385. Of the sums transferred to sinking fund
for the redemption of debenture stock the directors propose
to apply £10,000 as a provision for depreciation on buildings,
machinery and plant.

Shelton Iron, Steel, and Coal Company Limited—In the
Chancery Division, on the 22nd inst., Mr. Justice Neville
sanctioned the petition of the Shelton Iron, Steel, and Coal
Company Limited for a scheme of arrangement on simple
terms. The counsel said the position of the capital of the
company was this: There were £200,000 of 7 per cent,
cumulative preference shares and £220,000 ordinary shares,
all of £10 each. The dividend on the preference shares was
in arrear to the extent of nearly 190 per cent., and if the
preference shareholders insisted upon their strict rights the
profits would be swallowed up for a very long time. The
company, after passing through a period of depression, was
now on the eve of success. The preference shareholders
were to be given further shares so as to total £400,000, and
the ordinary capital of £220 000 was to be reduced to one-
fifth—£44,000. All the shares would now be of one class,
£1 each. The ordinary shareholders gave up four-fifths of
their holding, and there was a balance of £30,000 on the
profit and loss account. Out of the latter they were going
to declare a dividend amounting to £24,000. This, with
the £176,000 which the ordinary shareholders would give
up, would make up the difference. The preference share-
holders would give up their preference. The usual
meetings had been held, and with the exception of one
gentleman holding 20 preference shares, they were unani-
mous, and no poll was demanded.

Transvaal Coal Trust Limited.—The company have
issued a notice to holders of share warrants to bearer
stating that, under arrangement between the company and
the Springs Mines Limited, the shareholders of the Trans-
vaal Coal Trust Company Limited are entitled to participate
in the issue by Springs Mines Limited of £315 000 6 per
cent, first mortgage debentures to bearer at £97 10s. per
£100, in bonds of £5, £10, £20 and £100 each, to the extent
of £1 nominal amount of debentures for every four shares
held by them in the Transvaal Coal Trust Company
Limited.

Vagliano Anthracite Collieries Limited.—In the case of
Andreas Frangopulo v. Vagliano Anthracite Collieries
Limited and others, Mr. Justice Swinfen Eady, in the
Chancery Division, has given leave to the Russian Anthra-
cite Collieries Limited, one of the defendants, and the
applicants, to advance 25,000 roubles for the purpose of the
working of the company’s property in Russia, on the terms
that the amount so advanced without interest was to rank
as a first charge on all the company’s property. The
applicants undertook to transfer this charge at any time
to Mr. Vagliano, if requested by him so to do, upon receiving
from him the amount so advanced without interest. The
charge upon the amount so advanced was not to be enforced
without the sanction of the court.

The Dalkeith Town Council have unanimously agreed to
support the scheme of the Lothians Railway, a Bill for
which is again to be prosecuted in London. The promoters
of the scheme, with a view to meeting some of the objections
of last year, are extending the scope of the scheme, and
propose to have the railway line all the way from Arniston
Collieries, Mid-Lothian, and to continue down by Thornie-
bank, follow up by Smeaton, and on by Monktonhall to the
Forth.