IRON AND STEEL PROSPERITY.
Not the least hopeful point in the present industrial situation is the recovery which is taking place in the Iron and Steel Industry. The Report recently issued by Guest, Keen and Nettlefolds, shows that for the past year the trading profit was £1,035,396, against only £426,461 for the previous year. Debenture interest .absorbed nearly £68,000, and redemption proirision 134;813,--the' surd of £75;000 being allowed for obso- lescence in addition- to the £50,000 allocation to depreciation. The First Preference dividend absorbs £91,000, and dividends totalling 3s. per share, tax free, on the £1 Second Preference Shares cost £707,196, leaving £459,568 to be carried forward. By these payments all arrears of Preference dividend. are extinguished. The Report states that trading conditions at home have shown a decided improvement, largely due, the directors consider, to our national fiscal policy.
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