BRADFORD DYERS.
Another hopeful industrial report which has appeared recently is that of the Bradford Dyers' Association. The profit for the year, before deducting depreciation and Deben- ture interest, was £231,880, including an unstated amount from surplus provision for Income Tax, whereas in the previous year the corresponding figure was £123,167. After -charging depreciation, £171,990, and Debenture • interest amounting to £58,150, a credit' balance of £1,740 remains to increase the balance carried forward from 134,545 to £36,285. It is true that these figures show that there is a long way to go before the position becomes a satisfactory one, but it must be re- membered that a year ago there was a debit balance of £175,912 after charging £177,198 for depreciation and the usual amount for Debenture interest, and to cover the final dividend on the 5 per cent. Preference Stock and leave £34,545 to be carried forward, a sum of £250,000 had to be taken from the Reserve. This year, although profits were better, there is no distribution on the Preference Shares, but it may be useful to remember that these carry cumulative dividends and that the outlook is distinctly brighter owing to the rise in wool.
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