17 DECEMBER 1937, Page 42

Similarly, better prices for wool and other commodities have occasioned

a further recovery in the position of the Scottish Australian Company; the past year's report shows a substan- tial improvement in earnings, the profit, indeed, rose from about £25,00o in the previous year to nearly £75,00o. The Board are pursuing a conservative policy, however, and the dividend has merely been raised from 4 to 5 per cent., with a

considerable increase in the carry forward. _