1138

THE COLLIERY GUARDIAN.

November 27, 1914.

to make an intimation regarding payment of the interest past
due on October 1 last on the “ B ” debentures.

United National Collieries Limited.—Shareholders in the
United National Collieries Limited and Burnyeat, Brown
and Company Limited have received intimation by circular
of the proposal of the directors for the amalgamation of
these well-known undertakings. The two concerns have,
with one exception, the same board of directors, and are
thus closely interested administratively, and the United
National Company hold a very large proportion of the ordi-
nary shares in Burnyeat, Brown and Company Limited.
Both companies, as is pointed out in the circulars to the
shareholders, own collieries in the Rhondda Valleys and in
Monmouthshire. The rolling stock can by amalgamation be
worked to best advantage by one company, and now that the
new joint coal washing, coking, and by-products plant at
Risca is nearing completion, it is felt that the fusion of
the two companies will bring about a more simplified and
economical administration. In order to give effect to the
directors’ recommendation, it is proposed that an agreement
be entered into between the two companies whereby the
United National Company will take over all assets of Burn-
yeat, Brown and Company Limited, and undertake to pay
all the debts and liabilities of that company, and to issue
to each of its shareholders other than the United National
Collieries Limited, one United National fully-paid ordinary
share for each ordinary share of Burnyeat, Brown and Com-
pany Limited, and 10 United National 6 per cent, cumula-
tive preference shares of £1 for each 6 per cent, cumulative
preference share of £10 of Burnyeat, Brown and Company
Limited. In order to carry out the above proposal, it will
be necessary to increase the capital of the United National
Collieries Limited, and the directors deem it advisable to
increase the authorised ordinary share capital to £750,000,
and the authorised preference share capital to £250,000. In
view of the extended scope of the company’s business, the
directors consider it desirable to increase the number of
directors of the United National Company to nine, and sug-
gest for the consideration of the shareholders the names of
Mr. John Arthur Jones (at present a director of Burnyeat,
Brown and Company Limited) and Mr. Ivor Llewelyn, their
present general manager. The board of the United National
Collieries consists of Messrs. F. S. Watts (chairman), S. K.
George, Edgar Watts, Col. Alex. Keith Wylie, C.B., Her-
bert Sanders Sanders-Clark, S. H. Burgess, and James
Miles. The present capital of the United National Collieries
Limited is £663,560, made up of 165,890 6 per cent, cumu-
lative preference shares (£1 fully paid) and 497,670 ordinary
shares (£1 fully paid). Their ordinary dividends and profits
for the past five years have been as follows :—1909, 10 per
cent, dividend, £77,582 profit; 1910, 20 per cent., £109,416;
1911, 20 per cent., £93,183; 1912, 20 per cent., £86,030;
1913, 17J per cent., £119,152 (equivalent to 24| per cent,
on the old share capital). Burnyeat, Brown and Company’s
share capital is now £300,000, made up of 240,000 ordinary
shares (£1 fully paid), and 6,000 6 per cent, cumulative
preference shares (£10 fully paid), and there are 600 5 per
cent, first mortgage debenture bonds of £100 fully paid
During the past six years the profits and dividends have
been as follows :—1909, ordinary dividend, 5 per cent., profit,
£21,845; 1910, 15 per cent., £78,731: 1911, 20 per cent.,
£75,730; 1912, 25 per cent., £146,854; 1913, 25 per cent,
(plus bonus of 50 per cent.), £133,369. It was only on
August 1 last that United National Collieries Company took
over the Standard property purchased from Sir William
James Thomas, the combined output of the undertakings
being in normal times about 2,750,000 tons per annum.

United Wire Works Limited. — The report for the year
ended September 30 last states that during the past year the
plant and machinery have been maintained in an efficient
state. After providing for depreciation and for all bad debts,
and also for management, the balance at the credit of profit
and loss is £6,803. From this there has been paid the divi-
dend on the preference shares at November 11, 1913, and
May 15, 1914, at 5 per cent, per annum, £3,250. After pro-
viding for these, and for remuneration to the directors, the
board recommend that a dividend of 2 per cent, be paid on
the ordinary shares, free of income-tax, leaving a sum of
£2,013 to be carried forward to meet dividend accrued on the
preference shares to September 30, 1914, £1,228, and a free
balance of £784.

Weardale Steel, Coal and Coke Company Limited.—The
profit for the year ended September 30, after providing for
all accrued liabilities, amounts to £100,370 15s. Id. This,
with £34,567 15s. Id. brought forward from last year, makes
a total available of £134,938 10s. 2d., which the directors
recommend should be appropriated as follows :—Interest on
4 per cent, debenture stock for the year, £16,000; dividend
of 6 per cent, per annum on preferred ordinary shares for
half-year to March 31, 1914, paid May 1, £15,000; dividend
of 6 per cent, per annum on preferred ordinary shares for
half-year to September 30, 1914, £15,000; dividend of 6 per
cent, per annum on deferred ordinary shares for 12 months
ended September 30, 1914, to be paid when resources at
bankers will permit the directors doing so, £13,500; reserve
for depreciation, £40,000; carry forward to next year,
£35,438 10s. 2d. Having regard to the European War, and
its effect upon the working of the company’s collieries, the
directors consider the results for the past year are satisfac-
tory. Th^ output of coal in August was only half the normal
quantity, being reduced by no less than 60,000 tons, owing
to the dislocation of trade which followed immediately upon
the outbreak of war, and during the month of September
adverse conditions continued to prevail. Black Prince Col-
liery was closed in August, and Hedley Hill Colliery has
been temporarily laid in until the outlook in the coal trade
improves. The number of workmen who have left the com-
pany’s employment to enlist for military service is 625.
During the year special expenditure arising out of recent
legislation amounted to £2,497 2s. 4d., whilst the amount
paid by the company under the National Insurance Act was
£4,211 18s. 2d.

NEW COMPANIES.

Clabour (W. A.), Westbay and Company Limited.—
Private company. Registered office, Wyther-lane, Kirkstall,
Leeds. Registered November 17. Ironfounders, engineers,
coppersmiths, brass workers tool makers, metal workers,
boilermakers, machinists, etc. Nominal capital, £2,000 in
£1 shares. Directors and subscribers (one share each) :—
W. A. Clabour, 5, Park Gate-crescent, Guiseley, engineer;
E. West, 6, River Bank, East Moseley, Surrey, Engineer;
H. Benyon, 5, Hilgrove-road, South Hampstead, London,
engineer.

Roberts, Read and Company Limited.—Private company.
Registered office, Mansion House Chambers, Queen Victoria-

street, London. Registered November 18. To mine, exca-
vate, search for, win, get, quarry, crush, wash, screen, and
prepare for market silica, sand, ganister, and other fireclays,
stone, rock, coal, iron, and mineral substances of all kinds,
and to manufacture and deal in bricks, paving stones, arti-
ficial stones, etc. Nominal capital, £1,000 in £1 shares.
First directors to be appointed by subscribers.

Steam, Gas, and Oil Reversible Rotary Engine Company
Limited.—Private company. Registered November 20. To
acquire the following patents for inventions relating to rotary
engines, motors, air compressors, and pumps :—Letters
Patent 8991, 1913, granted in Great Britain and Ireland to
Frederick Charges Hodges; Provisional Protection 11424,
1914, granted in Great Britain and Ireland to F. C. Hodges
and George Nowell Philip; Brevets d’invention 69311 granted
in the Republic of France to F. C. Hodges and G. N. Philip;
Certificat de Depot 217911 granted in Belgium to F. C.
Hodges and G. N. Philip; Provisional Protection granted
in Germany to F. C. Hodges and G. N. Philip, dated
April 17, 1914; and Provisional Protection granted in Hol-
land to F. C. Hodges and G. N. Philip; and to enter into
agreement. Nominal capital, £6,000 in £1 shares. Direc-
tors and subscribers (one share each) :—F. C. Hodges, Fair-
view, Dartmouth, engineer; G. N. Philip, Sandquay, Dart-
mouth, engineer. Qualification of directors, £500.

Stutchbury (H.) and Company Limited. — Private com-
pany. Registered office, 60, St. Andrew’s-road, Higham
Hill, Walthamstow. Registered November 17. To carry
on business of carmen, contractors, coal and coke mer-
chants, etc. Nominal capital, £1,000 in £1 shares.
Directors and subscribers (one share each) :—W. Murch,
67, Carysfort-road, Stoke Newington, coal merchant; J. J.
Smith, 38, Eastcheap, E.C., coal factor.

Westmorland (George) Limited.—Private company. Regis-
tered November 19. To acquire and carry on business of a
coal dealer and coal merchant, etc., carried on by G. West-
morland at Kingston-upon-Hull. Nominal capital, £10,000
in £1 ordinary shares. Directors and subscribers (one share
each) :—G. Westmorland, 114, Ella-street, Hull, coal mer-
chant; J. Wharton, 3, Hull-road, Hessle, shipper; C. E.
Rymer, 27, Cave-street, Hull, aerated water manufacturer.
Qualification of directors, £500.

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.

So far from there being any falling off in the strength of
the outward freight market, matters have gone from bad to
worse—from the shippers’ standpoint—in the course of the
last week. Especially is this true of the north-east coast,
where fresh records in the way of rates have been set up
during the period under review. Coasting rates, for example,
now stand at 6s. to London from the Tyne, as compared with
from 5s. to 5s. 6d. a week since. North France has Rouen
at from 11s. 3d. to 11s. 6d., as compared with a range of
from 9s. 6d. to Ils. 3d. The Bay is represented by from
Ils. to Ils. 3d. to St. Nazaire, a very firm quotation, which,
however, is on a par with that of last week. The Mediter-
ranean has witnessed Genoa soar up to a steady 19s., as
against from 17s. to 18s.; whilst Port Said has been fixed
for at from 19s. to 20s., a distinct hardening on last week.
At South Wales, Genoa has been done at from 15s. 3d. to
16s. 4|d. from Cardiff, as against from 13s. 6d. to 15s. 3d.
The River Plate is firmer, at from 14s. 6d. to 16s. 6d. Alex-
andria is Is. dearer. Havre is steady. St. Nazaire is fully
1 fr. increased. The general volume of outward business
done shows some diminution as compared with a week ago.
The prime cause of this is the appalling shortage of tonnage
and the consequent height to which rates of freight have
advanced. The shortage is resultant from several causes :
First, a considerable amount of tonnage has been requisi-
tioned by the Admiralty for transport purposes; second, some
small quantity has been sunk or interned by the enemy;
third, there is considerable congestion, and consequent
detention, of steamers at several Continental ports, notably
those of Northern France; and, again, owners, to put it
very mildly, are not positively pressing their tonnage on the
market at present, knowing full well that if supplies were
adequate freights would fall. Whilst, however, the outlook
is full of short-sighted satisfaction to the shipowners, it
spells something perilously akin to stagnation to the coal
shipping industry, and in due sequence to the coal producing
industry. This fact is being recognised by the advisory
committee of the Newcastle Chamber of Commerce, which
has done such excellent work in many commercial directions
since the outbreak of hostilities. This body is now respon-
sible for a really splendid suggestion which the Board of
Admiralty is stated to be considering very seriously. The
suggestion is that those German and Austrian vessels which
we have captured and confiscated should be utilised for the
ordinary purposes of trade whilst the present shortage of
tonnage obtains. The idea is good, for, whilst we have
already done much more than our enemies in relation to
captured vessels—they have had to sink such of ours as they
have taken, whilst we have been able to convey our captures
into harbour—it would be well to make a positive profit for
the National Exchequer out of the employment of these
vessels. Probably those shipowners who are at present
securing such fancy prices for their tonnage may not care
for the idea, but the maintenance at its fullest possible point
of the industry of coal production would be facilitated
thereby, and, after all, unless we can keep our overseas coal
trade, owners will find that their precious shipping has been
converted into so much scrap iron. The suggestion is full
of good points, upon which it is inexpedient to attempt to
descant within the limits of this brief article. We note,
further, that the advisory committee is to make a personal
visit to those French shipping centres where the tonnage
congestion is worst, with a view to finding some way out of
the difficulty thus presented.

The Government’s announcement that, on and after
November 27, pilotage will be compulsory at the River
Humber, Tyne, Firth of Forth, Moray Firth, and Scapa
Flow, and that, owing to the extension of the system of
mine defence, it will be highly dangerous for vessels to enter
or leave such waters without a pilot, will not render ship-
ping movements thereabouts impossible, but it adds to their
difficulties and their cost. The closing of the Forth above
Queensferry, however, is an even more serious matter, for
it shuts up Grangemouth, Bo’ness, and the adjacent coal
shipping ports, and will involve coal shippers in a good deal

of trouble and expense in transferring their cargoes by rail
to other ports.

There is a fair enquiry, generally speaking, in the home-
ward market. North Pacific business has been continued
at from 43s. 9d. to 45s., but there is little business offering.
Nitrate ports are very slow, and charterers are holding off
in view of the poor demand from Europe. Australia reports
a few orders for coal tonnage, but new season wheat is quite
at a standstill. The rice ports are dull. The East Indies
are quiet. Alexandria has taken up some tonnage at firm
rates, but the Mediterranean generally is very slow, and the
ore ports cannot get on at the figures quoted. The American
market is busy, especially for grain carriers. Lumber rates
are dearer, at about 50s., Gulf to United Kingdom. The
River Plate is firm on the basis of 30s. for December load-
ing up river, and 26s. 9d. done for Jan.-Feb.

Tyne to Bagnoli, 7,600, 19s.; Barletta, 2,000, 18s. 10Jd.;
Carthagena, 1,800, 16s. 6d.; Caen, 850, 10s. 6d.; Fecamp,

2.100,	10s.; 600, 12s.; Genoa, 4,400, 18s.; 7,600, 18s.; 3,500,
16s. 9d., 500; 4,000, 18s. 6d.; 4,500, 19s.; 5,500, 19s.; 3,000,
19s.; 2,000, 19s.; Havre, 1,700, 9s. 7|d.; Leghorn, 3,800,
17s. 9d.; 4,500, 17s. 9d., guaranteed discharge; Las Palmas,
2,300, 13s. 6d.; 1,700, 12s. 6d.; La Pallice, 3,000, Ils. 6d.;
London, 3,000, 6s., from Derwenthaugh; 2,000, 6s.; 1,400,
6s.; Marseilles, 3,600, 16s., guaranteed discharge, from
Dunston; 1,700, 16s. 3d.; Naples, 7,600, 18s.; 3,000,
18s. 6d.; Nantes, 3,300, Ils. 3d.; Oran, 3,000, 16s.; Porto
Vecchio, 7,800, 21s.; 5,200, 21s.; 5,500, 19s.; Pozzuoli, 3,200,
19s. coal, 20s. general, 21s. coke; Porto Ferrajo, 7,800, 19s.;
5,000, 18s. 3d.; Port Said, 5,000, 20s.; 5,200, 19s.; Palermo,
1,900, 17s. 9d.; 2,700, 19s.; Porman, 1,400, 25s., coke;
Piraeus, 6,300, 20s.; Philippeville, 2,700, 20s.; Rouen, 2,600,
10s. 3d., voyages; 3,000, Ils. 3d.; l,450nlls. 6d.; Savona,

7.600,	18s.; 4,000, 18s. 6d., time counts from arrivals; 5,500,
19s.; Sicily, 1,900, 17s. 9d.; Spezzia, 3,500, 20s. 6d. coal,
24s. 6d. coke; 7,600, 18s.; St. Malo, 650, Ils.; St. Servan,

1.400,	Ils.; St. Nazaire, 4,000, Ils.; 3,000, Ils. 3d.; 3,300,
Ils.; 2,300, 11s.; Treport, 700, 11s.

Cardiff to Aden, 20s., early loading; 5,000, 20s., Dec.;
4,000, 17s.; Algiers, 6,000, 15 fr., end month; Alexandria,
5,000, 17s.; Ancona, 3,800, 20s. 3d.; Barcelona, 1,800, 14s.,
Nov. 29; 3,600, 15s.; 3,000, 15s.; 1,700, 15s.; 3,100, 14s. 6d.;
Boulogne, 1,400, 9s.; 1,500, 9s. 3d.; Colastine, 3,500,
17s. 9d.; 4,000, 18s.; Colombo, 5,000, 20s.; Fecamp, 700,
9s. 3d.; Genoa, 2,000, 16s.; 4,800, 16s. 4|d.; 14s. 6d., Dec.;

3.400,	15s. 3d.; 2,500, 15s. 4jd.; 5,000, 15s. 6d.; 4,600, 15s.,
Dec. 1; 4,300, 16s.; 4,300, 14s. 6d., Dec. 6; 4,800, 16s., next
week; 3,900, 15s. 6d.; Gibraltar, 3,400, 11s.; Havre, 1,600,
8s.; Leghorn, 4,900, 15s., 600; 5,000, 15s. 6d., 800; 5,500,
15s. 6d.; Lisbon, 1,600, 10s., 350; 5,000, 10s.; 4,400, 9s. 6d.;
Las Palmas, 4,000, Ils. 6d.; Messina, 4,000, 16s.; Mar-
seilles, 4,200, 16 fr., Dec. 4; Naples, 5,500, 15s. 9d.; 4,900,
15s.; 4,300, 15s. 3d., 500; Nantes, 1,800, 12 fr.; Oporto,
1,200, 13s. 6d.; Port Said, 5,000, 18s. 6d.; Pauillac, 1,700,
12j fr.; Rosario, 4,300, 16s. 3d., Dec. 1; 4,200, 16s. 6d.;
River Plate, 4,000, 16s.; 5,400, 16s., Nov.; 5,000, 14s. 6d.;
Rio de Janeiro, sail, 14s. 6d.; 6,000, 17s., end month; Rouen,

3.600,	10s.; 2,700, 10s.: 1,800, 10s.; 2,700, 10s. 6d.; 1,600,
Ils. 6d.; 3,000, Ils. 6d.; Savona, 4,200, 15s. 3d.; 5,000,
15s. 6d.; 4,300, 14s. 6d.; Dec. 6; 4,800, 15s., Dec. 1; St.
Nazaire, 6,000, 12 fr., end month; 1,800, 12 fr.; St. Malo,

1.100,	8s. 6d.; 700, 8s. 3d.; Venice, 3,800, 20s. 3d.

Swansea to Civita Vecchia, 2,000, 16s.; 3,000, 15s. 6d.;
Chantenay, 3,300, Ilf fr.; Cherbourg, 6,200, 8s. 6d.; Havre,
700, 8s. 3d.; Nantes, 2,000, 11 fr., reported; Alicante, 2,300,
13s.; Caen, 1,000, 8s. 6d., guaranteed discharge; Leghorn,

4.500,	16s., 600; Dieppe, 950, 8s. 6d.; 1,100, 8s. 9d.; St.
Servan, 750, 7s. 6d.; Treport, 480, 10s.; Bordeaux, 3,600,
Ilf fr.; 3,000, 13J fr.; Marseilles, 3,000, 16 fr., early Dec.;
Rouen, 2,300, Ils. 6d.

Goole to Dieppe, 800, 9s. 6d.

Blyth to Havre, 700, Ils.; 1,400, 10s.; Rouen, 1,700,
10s. 6d., Dec.; 1,600, 10s. 3d.; Cherbourg, 750, Ils. 6d.

Wear to Rouen, 2,500, 10s., voyages; Havre 1,700,
9s. l|d.

Seaham Harbour to Rouen, 1,300, Ils. 6d.

Hartlepool to London, 3,000, 5s. 10|d.

Partington to Marseilles, 4,000, 13s. 6d.

Leith to Valparaiso, sail, 22s. 6d., coke; Antofagasta,
sail, 22s. 6d., coke.

Hull to Genoa, 3,600, 16s. 9d.; 2,500, 16s. 9d.; Savona,

2.500,	16s. 9d.; Rouen, 2,500, 10s. 6d.; 2,300, Ils. 9d.;
Santos, private terms.

Partington to Porto Vecchio, 4,500, 17s. 6d.; Civita
Vecchia, 4,500, 15s.

Glasgow to Rouen, boats, 10s., despatch and demurrage
guaranteed here.

Newport to Gibraltar, 3,100, 8s. net; Naples, 5,000,
15s. 9d., 800; Salerno, 5,000, 15s. 9d., 800; Torre, 5,000.
15s. 9d., 800; Genoa, 3,000, 15s. 6d.; Savona, 3,000, 15s. 6d.;
Bordeaux, 2,300, 12 fr.

Barry to Lisbon, 10s., 500. 7d.

London to Savona, 1,800, 17s. 3d., coke, Dec.

Methil to Sundswall district, 2,000. 9s. 3d., Dec.

Burntisland to Sundswall district, 2,000, 9s. 3d., Dec.

A meeting of the Concrete Institute was held at Denison
House on November 20, when Prof. Henry Adams delivered
his presidential address. The 52nd ordinary general
meeting will take place at Denison House, Westminster, on
Thursday, December 3, when the secretary, Mr. H. Kempton
Dyson, will read a paper on “ Shear and Problems Arising
Therefrom.”

The contract list just to hand from Messrs. Ed. Bennis
and Company Limited, of Little Hulton, Bolton, shows
the following :—Earl of Ellesmere, Bridgwater Collieries,
Worsley, two hand-fired furnaces for 9 ft. diameter Lanca-
shire boilers (repeat order). Chatterley-Whitfield Collieries,
Tunstall, Stoke-on-Trent, four sprinkler stokers and self-
cleaning compressed air furnaces for 9 ft. diameter
Lancashire boilers. Messrs. Siemens Brothers Dynamo
Works Limited, Caxton House, S.W., have placed an order
for a coal elevator for shipment to India. This plant
consists of an elevator arranged to elevate the coal from a
storage bunker below the ground level to the mechanical
stoker hoppers on two water-tube boilers. Messrs.
Courtaulds Limited, silk spinners, Becking. Essex, have
also ordered a coal elevator. This plant consists of a
Bennis independent elevator with buckets and shoots to
feed a Bennis mechanical stoker. This is a repeat order.
Eccles Corporation Electricity Station, Patricroft, coal
conveying and elevating plant. This plant consists of a
coal elevator and U-link chain conveyor to serve a range of
four 8 ft. diameter Lancashire boilers fitted with mechanical
stokers.