For a short time during last week the market for
Oil shares received a stimulus from the announcement by the Emmet Oil Co.iof a 24 per cent. cash bonus in addition to the final dividend of 15 per cent., thus making 224 per cent. in all for the year against 20 per cent. Moreover, it is proposed to distribute one new share, fully paid, for every three V. units of Ordinary Stock. The profits for the year amounted to £2,011,568, after allowing Field charges of £496,508. For the previous year the profit was £1,524,635 after charging all Field expenditure to revenue and writing off £397,509 for depreciation. A sum of £289,419 is now added to the (Continued on paige 796.)
Financial Notes
(Continued from page 794.)
General Reserve which. stood in the. last balance sheet at £2,500,000. The ordinary stock stands at about 51 for every £1 of stock, giving a yield of about 4/ per cent.
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