14 MAY 1927, Page 47


On the whole, it was a cheery speech which Lord Kylsant was able to make to .shareholders. at the recent meeting of Harland and Wolff, Limited. Even during the depths of the shipping depression this great firm always had a certain nucleus of orders in hand, and at the present moment it appears that out of the twenty-six berths in the company's shipyards in Belfast, Glasgow and Greenock, twenty-four are now occupied. At the time of the flotation of the Preference shares some time ago, the company's finances were somewhat under a cloud owing to the trade depression, but it is rather difficult to understand why these shares should still be at a discount, seeing that they pay a full seven per cent. and that for the past year there was, after paying that dividend, a balance of £145,000 carried forward. Lord Kylsant at the meeting, drew attention to the many handicaps the ship- building industry is suffering just now, especially the great burden of national and local taxation. The £1 shares now stand at about 17s., giving a clear yield of seven per cent.

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