* * * * A GOOD STEEL REPORT.
Guest, Keen & Nettlefolds have earned a high reputation for pursuing a policy over many years which has resulted in the maintenance of a good dividend, even when conditions in the steel industry have been almost universally depressed. For the past year profits were £956,000, being just a trifle under the figure for the previous year, but the dividend of 10 per cent. per annum, free of tax, is, of course, maintained, and the substantial amount is carried forward of 1232,490. The report shows, however, that a rather severe capital loss was suffered in respect of the company's holdings in the Consolidated Cambrian group of companies, a loss which has been written off against the Reserve Fund, which is ,thus reduced from £2,629,000 to £1,781,000.
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