December 17, 1915. THE COLLIERY GUARDIAN 1255 COAL, IRON AND ENGINEERING COMPANIES. REPORTS AND DIVIDENDS. Anglo-French (Transvaal) Navigation Coal Company Limited.—Interim dividend (No. 11) of 7| per cent. (Is. 6d. per share) on the 7 per cent, cumulative preference shares, against 6| per cent. (Is. 3d. per share) a year ago. With the dividend of 5 per cent, declared in June last, this makes a total distribution during the year of 12J per cent. Apex Mines Limited.—Interim dividend (No. 19) of 10 per cent. (2s. per share) for the half-year ending December 31. Bayliss, Jones and Bayliss Limited.—A dividend of 10 per cent, on ordinary shares for year is declared, and after allow- ing £15,460 for depreciation, placing £10,000 to reserve for equalisation of preference dividends (making £20,000), the amount to be carried forward is £17,425. Blaenavon Company Limited.—The directors’ report for the year ended September 30, 1915, states that, after providing £11,515 for renewals and reserve funds, and £10,802 for debenture stock interest, the profits for the year were £30,494. Deducting from this depreciation £20,000, preference dividend (12 months to June 30, 1915), £3,000, and adding balance brought forward from last year, £19,597, there remains £27,091, which the directors recommend shall be carried for- ward to next year. The company now meets a wages bill of approximately £480,000 per annum. Owing to circumstances created by the war, the output of the collieries has been greatly reduced, whilst, owing to the existence of old contracts, the average selling price of coal has not advanced in the same ratio. Bristol Wagon and Carriage Works Company Limited.— Interim dividend of 4 per cent, per annum (4s. per share £10 paid, and 9-6d. per share with £2 paid), less tax, on ordinary shares for half-year. Canadian General Electric Company Limited.—The quar- terly dividend of If per cent, for the three months ending the 31st inst., being at the rate of 7 per cent, per annum, has been declared. Cargo Fleet Iron and Steel Works Company Limited.— With the exception of the coke ovens and by-product plant and mines, the works of the company have been declared a “ controlled establishment ” under the Munitions of War Act, 1915, as from November 8 last. On account of this, the balance-sheet and directors’ report will not be ready for pre- sentation at the annual meeting. In the meantime, the directors are satisfied that the profits for the year ending September 30, 1915, allow of the declaration of a dividend of 3 per cent., less income-tax. Chinese Engineering and Mining Company Limited.—The report for the year ended June 30, 1915, states that the gross profit of the Kailan Mining Administration, under which the mines of this company and those of the Lanchow Mining Company Limited are carried on as a joint undertaking, in accordance with the agreement dated June 1, 1912, amounted to 5,448,605 dols. After making provision in accordance with the terms of the agreement for one year’s interest on the 6 per cent. Kailan bonds, £69,840; redemption of bonds for the year to June 30, 1915, £24,000; reserve for depreciation, 817,290 dols.; the proportion of profit to which the Chihli Provincial Government is entitled, 103,316 dols., and other items, there remains a net profit of 3,286,415 dols., 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 credit of the company’s profit and loss account, including interest in China, less certain small expenses, is £161,428. Interest and other items bring up the total credit to £171,542. After deducting administration and other expenses in Europe, there remains a net profit of £159,067. Adding the sum of £52,268 brought forward, and deducting £12,176 for income-tax, there remains an available balance of £199,159. An interim dividend of 5 per cent., free of income-tax, was paid on May 15, 1915. The board propose that a further dividend of 5 per cent, be declared, free of income-tax, making a total of 10 per cent, for the year, payable on December 21, and that the balance, £99,159, be carried forward. The total sales of coal for the year amounted to 2,692,382 tons. Cleveland Bridge and Engineering Company Limited.—The report for the year ended September 30 last shows a gross profit on the year’s working of £21,264 16s. 10d., and after payment of debenture interest, and making ample provision for depreciation, there is a balance of net profit of £4,428 7s. 8d. This sum, added to £10,250 3s. Id. brought forward from the previous year, makes a total of £14,678 10s. 9d. standing to the credit of profit and loss account. An interim dividend was paid in June on preference shares, amounting to £1,129 6s. 8d., and there remains for disposal the sum of £13,549 4s. Id. It is recommended that this balance be applied in payment of a dividend of 2| per cent, on the preference shares for the half-year, less tax at 3s., £1,047 4s.; directors’ fees, £750; and carrying forward to next year’s account £11,752 0s. Id. Cottonwood Collieries Company Limited.—The directors have paid a further interim dividend of 6d. per share, less tax. Coventry Chain Company Limited.—The net profit for the year, after providing for depreciations, etc., amounts to £21,973, and there is an available balance of £25,433. It is proposed to pay a dividend at the rate of 8 per cent, per annum on the ordinary shares as paid up, less income-tax, £7,171; to pay a bonus at the rate of 2 per cent, per annum on the ordinary shares as paid up, less income-tax (making, with the above dividend, a return of 10 per cent, on the ordinary shares for the year), £1,793; to transfer to general reserve fund (making that fund £36,000) £5,961, and to carry forward to next year’s account £9,349. Haggie (R. Hood) and Son Limited.—The directors have decided to recommend, in addition to the usual dividend on preference 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 2s. per share on the ordinary shares, all less tax; that £20,000 be transferred to the reserve account, making it £90,000; and that £10,000 be written off capital expenditure account for extensions. The sum to be carried forward to next year is £40,631 11s. 4d. Irtysh Corporation Limited.—A circular has been issued to the shareholders, containing a report from the technical com- mittee. With regard to the coal mine at Ekibastus, the com- mittee state that developments have been entirely satisfactory. The No. 1 Voskresensky incline shaft has been sunk to the third level, being an incline depth of 598 ft. The old machinery has been repaired and put in working order where- ever possible. A new boiler and compressor house has been built, and an air compressor of 1,100 cu. ft. capacity is being installed. The south shaft has been cleaned out to the first level at a vertical depth of 126 ft., and headings from here are being run. The north shaft has been timbered down to water level, and is being unwatered. The new incline shaft still further north has been started, and has already reached a depth of more than 150 ft. on the incline; suitable engine house and boilers are being installed here. The coal produced to the end of September totalled 18,000 tons, of which 10,000 tons have been sold, the remainder being applied to the corporation’s own needs. It is estimated that, granted a sufficiency of labour, these shafts will have a total output for 1916 of 120,000 long tons, of which 65,000 tons will be avail- able for sale. The committee also state that an experimental coke plant of four beehive ovens has been erected, and has satisfactorily dmonstrated the good coking qualities of the coal. It is planned to erect further ovens in 1916 in order to •supply the needs of the zinc and lead smelter. The coke heretofore made has been from the fines of run-of-mine coal, but the machinery for a small crushing and washing plant is on the ground, and this will be installed as soon as possible. The 80-mile broad gauge railway connecting the coal mines with Ermak, on the Irtysh River, has been put in good con- dition, and a large tonnage is being transported over it. Kayser, Ellison and Company Limited. — The directors have declared an interim dividend of 5s. per share, free of income-tax, for the six months ending December 31. Natal Navigation Collieries Estate Company Limited.— The directors have declared a dividend of 2| percent. (6d. per share) for the half-year ending December 31. National Explosives Company Limited.—The report for the year ended October 31 states that, after providing for deben- ture stock interest and all charges, the balance to the credit of the profit and loss account amounts to £70,968, which, with £865 brought forward, makes £71,833. The reserve account for the redemption of debentures stands at £29,667. Up to the present £13,770 debenture stock has been redeemed and cancelled, a further £15,896 is available for the redemp- tion of additional debenture stock, and when (during the ensuing year) the money applicable for this purpose has been expended, the total debenture stock then outstanding will be reduced to £14,344. The directors have allocated one-third of the year’s profits in redemption of debenture stock, £23,656; to general reserve account, £7,000; and recommend a final dividend of 10 per cent., leaving to be carried forward £16,213. The reserve for renewals and depreciation of plant has been increased to £6,000, and general reserve to £10,000. North Lonsdale Iron and Steel Company Limited.—The net profits for the past year, after writing off £6,000 for deprecia- tion, were £3,922, and £3,863 was brought forward. It is proposed to add £5,000 to the reserve (bringing that fund up to £41,000), and £2,500 to the works renewals fund. Divi- dends amounting to 12J per cent, are recommended, £14,334 being carried forward, subject to excess profits duty. Transvaal Coal Trust Company Limited.—The directors have declared an interim dividend of 12| per cent. (2s. 6d. per share). Wankie Colliery Gpmpany Limited.—The report states that for the period ended August 31, the profits, after writing off depreciation, amounted to £36,195. The directors recom- mend a dividend for the eight months of 7| per cent., less tax, absorbing £30,392, and leaving £5,801 to be carried for- ward. In addition to the above dividend paid by the new company out of the profits earned during the eight months, the liquidator of the old company made a distribution of cash equal to 5 per cent, on the capital of the new company in respect of the profits accumulated during the four months ended December 31, 1914. Warwickshire Coal Company Limited.—The accounts for the year ended June 30 show a debit to revenue of £3,873, increasing the deficiency brought forward to £28,103. NEW COMPANIES. Amp Welding Company Limited. — Private company. Registered December 8. To carry on business of acetylene welders and general engineers, iron founders, makers of implements, tool makers, and brass founders, mechanical, electrical, water supply, and gas engineers, and any other business in connection with the business of the company. Nominal capital, £1,000 in 1,000 £1 shares. Subscribers : W. Young and J. C. Dwyer. Keeton and Skinner Limited.—Private company. Regis- tered December 9. To carry on business now carried on by R. E. Keeton and J. E. Skinner, as Keeton and Skinner, at the Attercliffe Engineering Works, Attercliffe-road, Sheffield, and to carry on business of engineers, etc. Nominal capital, £5,000 in 5,000 £1 ordinary shares. First directors : P. Keeton (governing director and chairman), R. E. Keeton, and J. E. Skinner. 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. Almanacs and Calendars, 1916.—From Messrs. Abdulla and Company Limited we have received a copy of their almanac for 1916, which will probably prove to be one of the most ornamental pieces of work of its kind. It contains some splendid reproductions of drawings and paintings by such famous artists as Frank Dadd, R.I., A. S. Hartrick, Arthur Hopkins, and Frank Reynolds, R.I., and others equally well known. Three of the pictures were exhibited this year at the Royal Academy. One can truthfully say that this almanac will not be out of place on any wall. Lighting a Black Powder Fuse.—The following method of lighting a single black powder time fuse is suggested by the United States Bureau of Mines as being more efficient than the old method of splitting the end of the fuse. The method is adapted for use when only one piece is to be lighted; it is not applicable when several pieces are to be lighted, as the time interval between ignitions would be too long. A safety match is held against the powder core at the end of the fuse, and the match box drawn across the match, causing the match and powder core to inflame immediately. It will be noted that this is just the reverse of the usual way of light- ing a match—drawing the match across the box. In case safety matches are not at hand, the ordinary household match can be used by placing one match against the powder core, and then lighting another and quickly touching it to the first one. It is believed that the method outlined, which originated with W. C. Cope, of the explosives chemical laboratory of the Bureau in Pittsburgh, as the result of experience obtained in the igniting of hundreds of pieces of black powder fuse, will be helpful in quarrying and other outside work. It has the advantage of cheapness, as no fuse lighters are required. CONTRACTS OPEN FOR COAL AND COKE. For Contracts Advertised in this issue received too late for inclusion in this column, see Lradbr and Last White pages. Abstracts of Contracts Open. Birkenhead, December 20.—Rough slack (washed), for rhe Corporation Forms from Mr. G. P. Shallcross, borough electrical engineer, Craven-street, Birkenhead. Dover, December 28.—About 1,000 chaldrons of coke of Newcastle coal -and 50 tons of fine coal, for the Town Council. Forms from Mr. R. E. Knocker, town clerk, 69, Castle-street, Dover. Great Yarmouth, December 20.—House and steam coal, for the Guardians. Forms from the clerk. London, S.W., December 20.—Coal and coke, for the Cancer Hospital (Free) (Incorporated under Royal Charter). Forms from Mr. F. W. Howell, secretary. Newport (Mon.), December 20.—House and steam coal and coal and coke, for the Corporation. Forms from the borough engineer, Town Hall, Newport. Oxford, December 29.—Good screened cobbles, for the Corporation. Tenders to the town clerk, Town Hall. Rathmines, December 20. — 500 tons of coal for their electricity works, for the Rathmines and Rathgar Urban District Council. Forms at the offices of the Electricity Works. Redditch, December 28. — About 80 tons per week of double-screened nuts or good rough slack, for three months, for the Redditch Urban District Council. Tenders to Mr. R. N. Mayne, engineer and manager, Electricity Works, Redditch, Worcestershire. Salford.—About 2,000 tons of washed slack, for the Corporation. Tenders to the chairman of the Electricity Committee, Frederick-road, Salford. Warrington, December 21.—1,000 tons of slack, for the Electricity and Tramways Committee. Forms from Mr. F. V. L. Mathias, borough electrical and tramways engineer, Howley, Warrington, on deposit of £1 Is. The date given is the latest upon which tenders can be received. CONTRACTS OPEN FOR ENGINEERING, IRON AND STEEL WORK, Ac. Earlestown (Lancs.), January 3.—Gas Works.—Supply of two new Lancashire boilers, 28 ft. by 8 ft., to work at 1851b. pressure, with feed pumps, feed water heater, steam pipes, etc., and a new steam driven gas exhauster, for the Newton-in-Makerfield Urban District Council. Specifica- tions from R. T. Surtees, engineer, Gas Works, Newton-le- Willows, on deposit of one guinea. Madras, January 26.—Electric Power Plant.—Installa- tion of an electric power plant at the Cadiz Naval Arsenal. Specification from the “ Negociado Quinto de la Segunda seccifin (Material) del Eistado Mayor Central de la Armada, Ministerio de Marina.” Sydney (N. S. W.), February 7.—Pump, etc.—Centri- fugal pumps, and electric motors, etc., for the Metropolitan Board of Water Supply and Sewerage of Sydney.* * Specifications, particulars, etc., may be seen at the Commercial Intelligence Branch of the Board of Trade, 73, Basinghall-street, E.C. British Trade after the War.—Sir Charles Henry asked the Prime Minister last week what Departments were enquiring into the commercial conditions that it might be imperative to deal with at the conclusion of the war.—Mr. Stuart-Wortley asked whether the Government had informa- tion that for some time past preparations had been made in Germany for the purpose of pushing German trade after the war.—The Prime Minister, in reply, said that com- mercial problems which were likely to arise on the conclusion of the war had been under consideration of the Board of Trade and the Foreign Office. These Departments were assisted by business men who were investigating for the Government some of the numerous questions on which full information was desirable. It was not necessary or advisable to give a list of names at present. He believed that these Committees were taking evidence from certain interests in commercial centres. The investigations had been going on for a considerable time. “ Dead Work ” in Mines. — During the progress of the Finance Bill through the House of Commons, Sir Clifford Cory, M.P., and Sir Arthur Markham, M.P., raised some important points in reference to “ dead work ” in collieries, Sir Arthur Markham contending that allowances should be made for the cases of re-opening abandoned roads and dis- tricts in collieries. Sir Clifford Cory has since received a letter from the Chancellor of the Exchequer, in which he states that he has been considering the question as to a special allowance for “ dead work ” in collieries, and had received a report from the Commissioners of Inland Revenue upon the point. The objection which he had all along felt to the acceptance of Sir Clifford’s amendment was not removed, for the technical term “ dead work ” was of a very wide application, and differed, he was told, in signification in different parts of the country. Mr. McKenna continues : “ The principle for which you contended in debate, viz., of allowance for postponed expenditure on driving past faults to recover seams, appears to be to be equitable, and we propose to give effect to it in the following way. The Commissioners of Inland Revenue will, in administering clause 40 (3), inter- pret the words ‘ renewals ’ or ‘ repairs * to cover the ‘ dead work’ of driving past faults, etc., usually charged in work- ing expenses. As a measure of the extent of the cost of such postponed renewals and repairs, they will, in general, allow (subject, of course, to proper evidence and proof of the sums expended), a sum equal to the average actual expenditure charged in the three pre-war trade years as the total allow- ance to cover expenditure incurred and expenditure postponed in respect of such work during the accounting period. This method will, of course, be subject to variation in any cases to which it would be manifestly inapplicable, and if it should prove in practice or upon any marked change in the condi- tions of the industry, to be an inequitable method, it will be re-considered.”