16 FEBRUARY 1934, Page 36


Electric Power Companies seem to be doing well, and the latest report of the Yorkshire Electric Power Company shows a considerable expansion in earnings, the net profit for 1933 amounting to 1489,665, as compared with only 1372,774 for the previous year. A prudent policy is pursued with regard to distribution of profits, the Ordinary dividend being simply maintained at 8 per cent., but the allocation to Reserve and Depreciation is £150,000 against 1125,000 a year ago, raising that Fund to £1,050,000. A sum of 135,000 is also placed to Plant Renewals Account. After making these increased allocations the balance carried forward of 182,057 is rather higher than a year ago. Not only so, but a Pension Fund has been established by the transfer of £30,000 from the year's profits. Sales of electricity during the year increased by nearly twenty million units, while in addition 148,700,000 units were supplied to the Central Electricity Board.