LANCASHIRE COTTON MILLS.
WHY DIVIDENDS WERE POSSIBLE. Received December 21, 8.55 p.m, LONDON, December 21. The analysis of the balance sheet of one hundred typical Lancashire mills containing in all eight million spindles shows a loss of £272,072 sterling, or 8 per cent., during the last year. Nevertheless the dividends average 71 per cent. This was made possible because the companies wrote the stocks down to nominal figures during boom years.
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https://paperspast.natlib.govt.nz/newspapers/WAG19091222.2.15
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Wairarapa Age, Volume XXXII, Issue 9673, 22 December 1909, Page 5
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71LANCASHIRE COTTON MILLS. Wairarapa Age, Volume XXXII, Issue 9673, 22 December 1909, Page 5
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