B.A.G.S.
The Buenos Aires Great Southern Railway in its Report issued this week also shows the effect of the lower exchange on net revenue, the exchange loss for the year being £188,888 compared with only £27,072 for the previous year. The company recently declared a dividend of 6 per cent. against 8 per cent. for the previous year, and to maintain that dividend some withdrawals were made from Reserves and the company brought in £323,000 from interest on Investments in Sub- sidiaries, &e., against £180,000. The directors have spared no pains, however, to show the stockholders the precise position and it is explained that the actual net receipts from railway working represented approximately 4 per cent. on the Ordinary capital after allowing for fixed charges.
(Continued on page viii.)
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