OIL PROFITS.
A considerable stimulus to the market for _Oil Shares was given some few weeks ago by the increase in the dividend of the " Shell " Transport and Trading Company from 711. per cent. to 121 per cent. The effect was all the greater because it was reckoned from the conservative character of the conduct of the Company's finances, that the increase would not have been made without good justification. Such justification is now afforded by the annual report; which shows that the total revenue from dividends, interest, &c., amounted to £3,852,601 compared With t2,790,969 =in the previous- year. Of the net balance of £4,196,853 available against £2,998,480, the Pre- ference dividends absorb £800,000, and the Ordinary dividend £3,015,170, leaving £381,683 to be carried forward. The Directors state that they are satisfied that full allowance for depreciation has been made throughout the group. Holdings in property and associated companies are shown at £33,678,415 against £33,941,063 a year ago. Other investments figured at £10,519,794 against £10,198,966. The balance-sheet made up to December 31st last showed that no less than £10,263,841 was in British Government and T.F.A. Stocks.
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