22 JUNE 1929, Page 34

CARMELITE TRUST.

Not the least interesting point arising out of the first annual general meeting held this week of the Carmelite Trust was the statement by Mr. H. S. Horne, the chairman, to the effect that the shares of the Associated Newspapers Limited were shortly to be listed in New York. As regards the first annual report, the chairman was able to state that the company had succeeded in making a net profit of £216,000, which he regarded as very satisfactory, in view of the fact that it was chiefly during the difficult early period of creating and building up the organization. That organisation, he stated, was now fully equipped to take advantage of the expansion likely to come about in the specific sphere of operations they had chosen.