PICTURE FINANCE.
' It is always satisfactory to be able to record that pro% of a concern have realized prospectus estimates. This k the case as regards the first report of the Gaumont-Britisk Picture Corporation. The first accounts- of the company, made up to March 31st last, did not cover the full yeah operations in the sense that some of the theatres taken over were not acquired until -May of last year. Nevertheless, the trading profit of the Corporation and the subsidiaries amounted to 1412,345, or about £30,000 in excess of the combined profits for the previous year of the enterprises taken over by the Corporation. Although the profits would clearly have admitted a larger distribution, the directors have very wisely limited the dividend on the ordinary to 6 per cent., leaving a substantial balance to Le carried forward. The balance sheet is also a satisfactory one.
A. W. K.
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