17 MAY 1930, Page 44

* * * * DEPRESSION IN SEWING COTTON. The continued

depression in the textile industry is reflected in the latest profit statement of J. and P. Coats, the total, of profits for the past year being £3,179,574, after allowing for taxation and depreciation, whereas in the previous year the profit was £3,429,059, after allowing £500,000 for extra depreciation on buildings. A year ago the company in- creased its distribution from 15 to 20 per cent., the dividend for a number of previous years having been 15 per cent., with a bonus: of '2f per cent. The 4lividend is -now -reduced' to :its old level, the bonus being cut down from Is. to 6d. per share.