1 JUNE 1934, Page 30

* * _* * • - - -PLIGHT Or THE


During the current half year, GiOss -Revenues have again risen, but there has doUbtlesi also been a rise in working exgenses, and a restoration of the ".cuts:" •at the present time would probably remove' all -prospects of Ordinary Stockholders receiving a- Dividerid. -It- is; I believe, a fact that Whereas in the year- -previous -to the - War—that is in 1913—out- of each £1 in,Revenue received by the four ' Railways Ordinary.. Stricks received 2s.. 10d. and Salaries and Wages 7s. 8d. _Last .year the corresponding' gives


we ld. and 41s.; while' no Ordinal' Stheks earned their interest, the Dividend on tlie 3 per cent. Great Western Ordinary being paid entirely from -Reserves.