14 FEBRUARY 1931, Page 45

DICKINS AND JONES.

What is true with regard to Maple's applies also to a firm such as Dickins and Jones. Moreover, it should be noted that the past year's results follow two years' profits at an excep- tionally higher level. In view of that fact, the recent profit statement showing the profit, before paying Debenture interest, at £115,910, as compared with £129,367 in the previous year, was quite up to expectations. By reason of the conservative policy adopted in the past, this reduction in profits has not interfered with the dividend, which is maintained at 12 per cent., leaving a balance of £42,909 to be carried forward as compared with £47,748 a year ago.

A. W. K.