22 NOVEMBER 1930, Page 74


The past year has, of course, been a poor one for financial institutions concerned in loans and company flotations, and having regard to that fact the recent Report of the Charter: house Investment Trust, Ltd., must be regarded as a saris: factory one. There is a reduction in profits, but the directors have been able to pay 7{ per cent. on the Ordinary shares, while a good point in the Report, having regard to market tendencies as a whole, is the fact that the value of the stocks and shares shows a depreciation of less than I per cent, on the book value. Moreover, as indicating the conservative finance, even this depreciation amounting to £10,467 has been provided for by carrying the figure to a Securities Depreciation Reserve.

* * * *