CROSSE AND BLACKWELL DIVIDENDS RESUMED. It is satisfactory to note
that the reorganization plan put in operation some- time ago by the directors of Crosse and Blackwell is giving good results, and during the past week the announcement has been made of a half-year's dividend at the rate of 71 per cent. per annum on the First Preference shares, this being the first payment made since July, 1921. The com- pany has placed privately an issue of £600,000 in 61 per cent. three-year Notes at the price of 99 and repayable at 101. Having regard to the good character of the security, the terms seem a little onerous to the company ; but, on the other hand, the directors have probably done well to finance their immediate requirements for extension by a short-term rather than a long Debenture issue, for all the chances seem to favour the ability of the company to consolidate the issue later on much more favourable terms. Meanwhile the directors state that the interest. on the Notes will not materially exceed the interest hitherto paid on overdraft. * * *
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