Notwithstanding bad trade in the North, Brewery profill in that district, judging from the last Report of Peter Walker (Warrington) and Robert Cain and Sons, Ltd., have in no way suffered. The Report for the past financial year shows a profit of '2548,000, or- about 210,000 above the previous year. These profits include; however, dividends on invest- ments, mostly, of course, in Peter Walker and Son, Warrington and BUrton; Ltd. After paying a dividend of 74 per cent. and placing' £50,000 to Reserve, and, £5,000 to Staff Super- annuation, the carry forward is £66,000 against £53,000.
A. W. K.