BRITISH GLUES AND CHEMICALS
The bone and fat industry is not among that large number of industries into which new activity has been infused this year. At the meeting of British Glues and Chemicals last week Mr. T. Walton, the chairman, gave some striking examples of the exceptional depression which is being experi- enced in that industry. The selling price of tallow, for in- stance, is lower than at any time since the Battle of Waterloo, and the price of bone grease is much less than half of what it was in July, 1914. Fortunately for British Glues and Chemi- cals, the company does not depend on one line of business. Its feeding-stuffs are in good demand, and fertilisers have had a good year and another equally good season is expected. Thus the company has again been able to pay a to per cent.
ordinary dividend and add to reserves. J. D. M.
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