PROFITS IN COTTON.
COATES* HUGE WAR RESULTS. By Telegraph.—Press Assn.—Copyright. Received Dec. 9, 8.5 p.m. London, Dec. 4. Messrs. J. P. Coates and Co. state itiat only £370,000 out of their £4,000,000 profits lg due to goods sold in the United Kingdom. Nine-tenths of the profit is due to foreign trade. The profit on a 400ayard reel is below two-thirds of a penny,—AU6.-N.Z. Cable Assn.
[The directors of the firm of J. P. Coates recently sought authority of the shareholders to capitalise 10% millions of reserves, making the total capital 20% millions. They pointed out that the scheme would not increase the company's earnings, but would affect the apparently high dividends, which were adversely criticised. The year's profits of J. P. Coates and Co. was £3,899,388. After paying of excess profits tax, ordinary shares received a dividend of 40 per cent., and a sum of £2,299,288 was carried forward, making the reserve funds £11,000,000. It is understood that ordinary shareholders are also receiving 100 per cent, share bonus. Pound shares are worth £lo.]
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Taranaki Daily News, 10 December 1919, Page 5
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173PROFITS IN COTTON. Taranaki Daily News, 10 December 1919, Page 5
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