BIG COTTON PROFITS

Dominion, Volume 13, Issue 75, 22 December 1919, Page 7

BIG COTTON PROFITS

NEAliM'.i' FOliii MILLIONS NET. The profits of Iho gri'ai Paisley cotton thread Manufacturing firm of J. antf P. Coals for the twelve- months ended on •lime :i() last have easily'eclipsed all previous records at the net figure of -S3.Sii9.KS. alter deducting depreciation and allowing fur excess profits i July. For the vear iust closed, in addition to tho 30 do" cent, dividend, the directors recommend a cash bonus of 2s. per share, sauivalont to an additional 10 per cent., milking a total of 10 per cent, in all. This dividend is paid after deducting .£1.100.000 from the year's profits in respect of various appropriations. Tho capital of the company is nominallv .UO.liltO.OtK). of which .£2,50?,C00 is represented by 6 per cent, oumulativa preference shares. ,1:3,1)00,000 'by noncumulative 20 per eon!, preferred ordinary stock, and .£4,500,00.0 by orainary shares. This capital, however, results from a reorganisation in IHOI, Prior to that dale there was .l;:l,0.i0,M0 of ordinary capital. but this was ..inverted into oKUKM 000 of 21) l"T eeii!. preferred ordinary capital and .tl.oiy.lKW of ordinary shares wilon! anv new cash subseription at Ihe lime, sn vhal the dividend How declared represents a rate of SO per cent, upon the original capital. It is only fair In say. however, states tho the "Mominir Post," the.l of t.lio addition to the c.ipilnl represented premiums derived from issues of shares above their face, value, and, to- that extent. wore actual cash capital.