14 JULY 1928, Page 32

AMALGAMATED PRESS.

In these days of big capitalization, preliminary expenses form a very important item in the formation of new com- panies, and one which, if the dictates of sound finance are followed, has to be exorcised from balance sheets at the earliest opportunity. This is the course which is being followed by the directors of Amalgamated Press, Ltd. For this company, which has an available sum of £461,437 after meeting debenture interest and the preference dividend, as a result of the first period of working in its new hands devoted no less than £347,050 to providing a reserve equal to the total of its formation expenses, and carrying forward a balance of £114,377 instead of paying a dividend on the ordinary shares. However, the ordinary shareholders do not go dividendless, for out of the profits of the current year the directors have felt justified in recommending an interim dividend at the excellent figure of 7 per cent. actual.

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