SELFRIDGE'S RFSULTS.
The full report of Selfridge and Company amply confirm the favourable view which was taken here with regard to the preliminary profit statement. In passing I would like a. commend the company for the fullness and clearness of its balance-sheet, and especially for the manner in which comparison with the previous year's results is made easy for the shareholders. I have already referred to the actual dividend and profits, but a feature of the annual report is he additional strength which has been imparted to the • lance-sheet. This is partly as a result of the segregation if Selfridge Provincial Stores Limited as a separate company, he reserve fund of the parent company, with the addition rorn the year's profit, now standing at £400,000 as compared ith £75,000 in the previous balance-sheet. There has also • n a further drastic writing down of leaseholds and uildings account, notwithstanding the fact that leaseholdi nd buildings in Oxford Street have increased in valuation'. e writing down, however, is in accordance with the con- ervative policy which has throughout been adopted by the mpany.
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