GOOD TOBACCO PROFITS.
The annual report of the Imperial Tobacco Company (of Great Britain and Ireland) Limited, fully bears out the favourable impression created by the recent announcement of the dividend and share bonus. The net trading profit for the year was £9,595,000, against £9,224,000 a year previ- 'ously. Once again the company is able to set aside £250,000 for pensions, and £500,000 for the general reserve, while the balance carried forward of 21,169000, compares with £959,000 a year ago. The balance sheet also makes a strong and liquid showing. The general reserve account now stands at the very high level of £11,500,000, and the directors are proposing that approximately £7,500,000 should be capitalized and distributed to the ordinary shareholders in the form of fully paid ordinary shares at the rate of one for four.
A. W. K.
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