EAGLE OIL.
Additional interest attached to the accounts which have recently been published by the Mexican Eagle and the Cana- dian Eagle Oil Companies, by reason of the fact that they are the first which have appeared since the arrangement under which the assets of the Mexican Eagle, outside Mexico, together with certain liabilities, were transferred to the Canadian Eagle Oil Company. This makes a precise com- parison with the previous figures impossible. Neither company, of course, has paid a dividend on its Ordinary capital, the combined concern having paid no Ordinary dividend since 1922, and the present dividend is the same as for the previous year, representing the distribution- on the First Preference shares of both companies. The - dividend on the Mexican Eagle First Preference is paid by the Canadian Company under its guarantee. The two companies, however, appear to be pursuing a sound financial policy, arid it is stated that the Mexican Eagle Company's potential pro-
duction has been increased by the pursuance of the exploration and drilling work, actual production, howevef, being limited to present requirements. The directors state that they "are able to regard the future with confidence, bearing in mind the more settled conditions brought about by recent petroleum legislation and the considerably increased production already secured as a result of the steady exploration programme now made possible." A. W. K.
Previous page