17 FEBRUARY 1933, Page 35

A GOOD INDUSTRIAL REPORT.

A good annual report has just been issued by Tilling and British Automobile Traction, Limited. This, of course, is a holding concern, deriving its profits from holdings in other companies. But if we judge from the fact that the profit for the year was £234,801 against £230,105 for the previous year, after allowance for Debenture interest, it is evident that the motor omnibus services in the provinces continue to thrive. The directors again pay a dividend on the Ordinary shares at 10 per cent. ; the Participating Preference shares also receive 10 per cent., while an amount of £10,000 is added to the reserve, and the carry forward of £136,909 compares with