December 18, 1914.

THE COLLIERY GUARDIAN

1291

COAL, IRON AND ENGINEERING COMPANIES.

REPORTS AND DIVIDENDS.

Armstrong (Sir W. G.)» Whitworth and Company Limited.
—The trustees for the mortgage debenture holders of
Argylls Limited have issued a circular to the debenture
holders intimating approval of the sale of works at Alex-
andria, near Glasgow, to Sir W. G-. Armstrong, Whitworth
and Company Limited, and acceptance of the offer of the
liquidators, Argylls Limited, to pay the debenture holders
out of the price the amount of their respective holdings,
namely, £142,964, with interest to date of the liquidation.
The trustees state that the price offered for the works and
.ground at Alexandria, including feu duties, and .also
including the movable plant, which is valued at £11,933,
and which does not form part of the debenture holders’
security, is £153,800. The only other security held by them
for the debenture holders are the Bridgeton Works, which
are valued at approximately £6,000. The offer to purchase
was conditional on immediate acceptance and possession,
and the trustees say they had no hesitation in concurring in
the transaction. The liquidators are to retain the balance
from the sale price, and the Bridgeton Works, as an
■equivalent for the movable plant.

Chinese Engineering and Mining Company Limited.—
The report for the year ended June 30, 1914, states that
the gross profit of the Kailan Mining Administration, under
which the mines of this company and those of the Lanchow
Mining Company are carried on as a joint undertaking, in
accordance with the agreement dated June 1, 1912,
amounted to $4,786,258. After making provision in accord-
ance with the terms of the agreement for one year’s interest
on the 6 per cent. Kailan bonds, £71,280; redemption of
bonds for the year to June 30, 1914, £24,000; reserve for
depreciation, $717,938; the proportion of profit to which the
Chihli Provincial Government is entitled, $91,023, and
other items, there remains a net profit of $2,928,385, which
is divisible as follows :—60 per cent, to this company and
40 per cent, to the Lanchow Mining Company Limited.
The amount brought to the credit of the profit and loss
account, including interest in China, less certain small
expenses, is £169,359. Interest in Europe and other items
bring up the total credit to £177,809. After deducting
administration and other expenses in Europe, and writing off
£11,914, being the balance of the preliminary expenses
account, there remains a net profit of £155,659. Adding
£5,854 brought forward, and deducting £9,245 for income-
tax, there remains an available balance of £152,268. The
board• proposes a further dividend of 5 per cent., free of
income-tax (making 10 per cent, for the year), and that
£52,268 be carried forward. The total sales of coal
amounted to 2,411,038 tons.

Cleveland Bridge and Engineering Company Limited.—
The report shows that the gross profit for the year ended
September 30 last was £20,581, and after payment of interest
-on debentures, and making ample provision for depreciation,
there is a balance of net profit of £8,033. This sum, added
to £7,756 brought forward, makes a total of £15,789 standing
to the credit of profit and loss account. The works have
been fully employed during the year on profitable contracts,
but the directors consider it advisable to pay no further
•dividend on the ordinary shares, and to carry forward
£10,250.

Evans (Joseph) and Sons Limited.—The report of the
•directors for the past year states that the accounts of the
12 months’ trading, after providing for all trade expenses,
show a profit of £2,708 12s. 9d. After charging £940 5s. 6d.
for interest on debenture loan, and making provision for
depreciation on plant, machinery, and tools of £398 18s. 4d.,
there is a net profit for the year of £1,369 8s. lid. To this
profit there must be added the amount brought forward from
last year, £72 2s. 8d., leaving a credit balance on profit
and loss account of £1,441 11s. 7d. The directors recom-
mend that the sum of £1,250 be transferred to the reserve
fund, and that the balance of £191 Ils. 7d. be carried
forward.

Haggie (R. Hood) and Son Limited. — The directors
recommend, in addition to the usual dividend on the pre-
ference shares, that a dividend at the rate of 10 per cent,
per annum be paid on the ordinary shares for the year to
October 31 last, together with a bonus of Is. per share on
the ordinary shares; that £10,000 be transferred to the
reserve account, making it £70,000; and that £10,000 be
written off capital expenditure account for extensions of
buildings and machinery. The sum to be carried forward
to next year is £15,206 13s. 9d.

Howard and Bullough Limited. — The deferred October
quarterly dividend on the ordinary shares will be paid along
With the January quarterly dividend on the 10th prox.

Ingersoll-Rand Company Limited. — The directors have
declared a dividend of 3 per cent, on the preferred stock.

Leeds Fireclay Company Limited.—The report states that
Messrs. E. H. Brooke, H. A. Eastwood, and Charles F.
Spencer have been elected to the board, which has been
engaged in re-organising the production and sales depart-
ment with good results. The result of working for the year
ending June 30 shows some improvement, though a reduced
turnover in the London area occurred consequent on the
strike. The net profits amount to £14,653, which, after
appropriating £12,000 to debenture interest, and £1,650 for
•depreciation of investments, leaves a balance of £1,007. In
the opinion of the board, the assets are over-valued, and the
directors hope at no very distant date to present a scheme
to the shareholders with a view to reducing their value to
more reasonable figures.

National Explosives Company Limited.—The report for
the year ended October 31 states that, after providing for
interest upon the debenture stock, the balance to credit of
profit and loss account amounts to £16,388. Further exten-
sions have been made to the factory, entailing a capital
outlay of £2,865. The directors have appropriated one-third
of the profits to the redemption of debenture stock (under
the terms of the trust deed), £5,462, to general reserve
account £3,000, and they recommend a dividend of 5 per
cent, on the shares, leaving a balance to be carried forward
of £865. A sum of £2,117 has been charged to profit and
loss, and added to reserve for renewals and depreciation of
plant, bringing this account up to £3,500.

Redpath, Brown and Company Limited. — The report
states that the profit for the year ended October, after allow-
ing for depreciation, was £49,991, and the balance brought
forward £8,880, making £58,871. The directors recommend
that this sum be dealt with as follows :—To general reserve
fund (making this £60,000), £20,000; 6 per cent, preference
dividend, £8,730; 8 per cent, dividend on ordinary shares,

free of tax (of which 4 per cent, was naid in June), with
8 per cent, bonus, also free of tax, absorbing together
£20,000, leaving £10,141 to be carried forward, subject to
directors’ fees.

Tinsley Park Colliery Company Limited.—The report of
the directors for the year ended September 30 shows a net
profit of £30,221 11s. 2d., to which must be added the
balance brought forward, £11,182 0s. 6d., making
£41,403 Ils. 8d.; deducting the interim dividend of 2| per
cent, paid on June 30 last, absorbing £5,017 8s. 9d., there
remains an available balance of £36,386 2s. lid. The
directors propose to pay a dividend of 3| per cent., less
tax, making a total of 6 per cent, for the year, absorbing
£7,026 18s. 8d., to write off additional depreciation, £5,000;
to place to reserve account £10,000; and to carry forward
£14,359 4s. 3d. The profits have been adversely affected
by the Yorkshire miners’ strike in April, and by the war.
A greatly reduced output due to the strike and the war,
coupled with the higher prices of pitwood and stores, has
resulted in the cost of production being increased. Prices
of all qualities of coal, coke, and by-products have fallen
during the year.

Watson (James) and Company.—Mr. William B. Peat,
chartered accountant, of London and Glasgow, the trustee
on the estate of James Watson and Company, iron mer-
chants, Glasgow, Middlesbrough, and elsewhere, whose
failure last year precipitated a crisis in the warrant iron
market, intimates a third dividend of 8d. per £ to the
creditors. The liabilities amounted to £400,000, and the
assets at the time of the suspension were valued at £120,000.

NEW COMPANIES.

Bignall Hill Colliery Company Limited. — Private com-
pany. Registered Dec. 8. To acquire and carry on and
develop certain collieries and a landed estate known respec-
tively as the Bignall Hill Collieries and the Bignall End
Estate, Audley, Staffordshire, and to carry on business of
colliery owners, proprietors, or workers, coke manufacturers,
iron masters, steel makers, and to work, raise, make
merchantable, and deal in coal, iron, ironstone, brick earth,
bricks, etc., and to carry on business as manufacturers of
chemicals, distillers, dye makers, etc. Nominal capital,
£120,000 in £1 shares. Directors : J. M. Wood, E. J. W.
Wood, and Major John N. P. Wood. Qualification of
directors, £500.

Brownhills Estate Company Limited.—Private company.
Registered Dec. 8. To acquire, develop, and turn to account
certain colliery and landed estates known as the Brownhills
Estate and the Hamil and Bycars Estate, Burslem, Stafford-
shire, and to carry on business of colliery owners, etc., coke
manufacturers, iron masters, steel makers, etc., and to
work, raise, and make merchantable and sell and deal in
coal, iron, ironstone, brick earth, bricks, etc., and to carry
on business as manufacturers of chemicals, chemists,
distillers, dye makers, metallurgists, etc. Nominal capital,
£60,000 in £1 shares. Directors :—J. M. Wood, E. J. W.
Wood, and Major J. N. P. Wood. Qualification of
directors, £500.

Hodgson Pump Company Limited.—Registered Dec. 10.
To acquire letters patent in respect of the Sunturbo pump
granted to F. K. Woodroffe and H. C. Hodgson, and to
carry on business of manufacturers of pumps and
mechanical and engineering devices and contrivances of all
kinds in connection with pumps and pumping machinery.
Nominal capital, £20,000 in £1 ordinary shares. Minimum
subscription, seven shares. Directors :—G. W. Grimshaw,
Bamber Bridge, near Preston, managing director to a
limited company; W. Norris, Bamber Bridge, near Preston,
engineer to a limited company; F. K. Woodroffe, 32,
Clarendon-road, Egremont, consulting engineer; H. C.
Hodgson, Bamber Bridge, engineer to a limited company.
Qualification of directors, £100.

Mellor, Bromley and Company Limited.—Private com-
pany. Registered Dec. 7. To acquire and carry on the
branch business of engineers and machine builders, iron and
brass founders, carried on by Moses Mellor and Sons
Limited. Nominal capital, £10,000 in £1 shares. Directors
and subscribers (one share each) :—John G. Raphael, 8, St.
James’s-terrace, Regent’s Park, N.W.; Thomas C. Bromley,
46, Sykefield-avenue, Leicester, machinist.

Millwall Engineers Supplies Limited.—Private company.
Registered office, 35, Tooke-street, Millwall, E. Registered
Dec. 7. To acquire and carry on business of engineers and
pipe benders, nut, bolt, and metal merchants, pump makers,
iron masters and founders, etc., carried on by H. R. P.
Pixell and F. J. Norris at Millwall. Nominal capital,
£5,000 in £1 shares. Directors :—C. W. Muggleton,
Goodrington, 2, Pembury-road, Westcliff-on-sea, gentleman;
R. C. N. Muggleton, Goodrington, 2, Pembury-road, West-
cliff-on-Sea, engineer; H. R. Pixell, 35, Tooke-street, E.,
engineer; F. J. Norris, 35, Tooke-street, - E., engineer.
Qualification of directors, 100 fully paid shares.

Umeras Peat Limited.—Private company. Registered
office, Washington Station, Washington, County of
Durham. Registered Dec. 7. To carry on business of
winning, manufacturing, preparing, and dealing in peat and
like bodies, and all products and substances allied thereto.
Nominal capital, £3,000 in £1 shares. First director, F. S.
Newall. Subscribers (one share each) :—F. S. Newall,
Castle Hill, Wylam-on-Tyne, chemical manufacturer;
G. S. Newall, Sunniside, Hexham, engineer.

West Lees wood Collieries Limited.—Registered Dec. 11.
To purchase or otherwise acquire or obtain mining claims,
rights, or options in respect of or other interests in lands
or hereditaments, coal, clay, shale fields, seams or deposits or
lands containing coal, clay, shale, gases, and any metal-
liferous lands or deposits, and to develop, finance, and turn
to account same, and to carry on business of colliery pro-
prietors, coal masters, miners, smelters, engineers, brick,
pottery, and tile manufacturers, etc. Nominal capital,
£15,000 in £1 ordinary shares. Minimum subscription,
seven shares. No persons have yet consented to act as
directors. First directors shall not require any qualification.

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 estate of the late Mr. Richard Cory, J.P., of Oscar
House, Cardiff, chairman of Messrs. Cory Brothers and
Company Limited, who died on September 20, has been
provisionally estimated at about £600,000.

ABSTRACTS OF PATENT SPECIFICATIONS
RECENTLY ACCEPTED.

482 (1914).—Improvements in and Relating to the Genera-
tion of Combustion Products under Pressure for Actuating
Turbines and other Engines. The Warwick Machinery
Company (1908) Limited, of 83, Cannon-street, London,
E.C. (A communication from the General Electric Com-
pany, of Schenectady, New York, U.S.A.) — Relates to
apparatus for burning powdered fuel of the type in which
a stream of powdered fuel and air is blown in a tangential
direction into a combustion chamber. The invention con-
sists in improved apparatus of this type in which the com-
bustion chamber is provided with a conical top and a central

J^.2.



discharge pipe leading from the lower part of the chamber
out through the top. The mixture of powdered fuel and air
is blown into the combustion chamber at or near the top
of the conical portion, and any ashes or unburnt particles
are collected in laterally arranged pockets at the bottom.
The gaseous products of combustion escape through the
central discharge pipe, and may be utilised in a turbine or
other engine. Fig. 1 is a diagrammatic view, partly in
vertical section, of an apparatus embodying the invention;
and fig. 2 is a horizontal cross section of a portion of the
same. (Four claims.)

1825 (1914). Improvements in Turbines. A. Menzies, of
27, Le venbank-terr ace, Jamestown, Dumbartonshire.—
Relates to an improved turbine of the type in which the
explosive mixture is compressed in a compressor, and is
exploded in a chamber, one wall of which is constituted by
a turbine vane, and the invention consists in an improved
construction comprising a compressor and turbine rotor
housed in a casing provided with an explosion chamber, said

compressor and said rotor being disposed co-axially, and the
compressor and explosion chamber being connected by a
port permitting passage of mixture from the compressor to
the explosion chamber at appropriate intervals determined
by the position of a port in the rotor. A turbine embodying
the invention is illustrated in the accompanying drawing,
in which fig. 1 is a section, and fig. 2 is a section on the
line a—b fig. 1. (Two claims.)

6755 (1914). Explosive and Process of Making Same.
W. J. Hoynes, of Williamson Building, Cleveland, Ohio.—
Relates particularly to the manufacture of what is known
as a chlorate powder ” compound. According to the
invention an explosive in the form of small imperforate per-
fectly spherical units from rs in. to | in. in diameter, and of
the same density from centre to circumference, is formed
from nuclei of very small dry particles of powder, which

D



are tumbled in a revolving tub in the presence of a dust-
like explosive of the same nature, a small proportion of
moistening liquid in a mist-like condition being now and
then added; whilst the tumbling is proceeding the dust
adheres to the nuclei, and they begin to build up like a