RISE IN GUINNESS.
Not the least interesting feature in the Industrial section has been the sensational rise in the £1 Units of Ordinary Stock of Arthur Guinness, Son and Company. A week ago I referred to the fact that this Stock, which then stood at about 112s. gave a yield to the investor on the basis of the last dividend and bonus of just over 41 per cent., but since then the price has risen to 117s. 6d. ex dividend. Some idea of the effect of the rise on market values may be gathered from the fact that it has taken place in a Stock having a nominal value of £7,500,000 and the rise during the past week has added something like £3,000,000 to the market value. The latest Report was, of course, a very good one, but the sensational rise of the past week has been due to the announce- ment made at the annual meeting of the establishment of brewery near London, a step which it is understood will save the company a very large amount each year in taxation.
A. W. K. A. W. K.
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