23 JANUARY 1926, Page 32


Not. the least interesting feature of the address of Sir Hugo Cunliffe-Qwen at the recent meeting of the British American Tobacco. Company was his .somewiliat reassuring comments with regard. to the situation in China. He had, he said, every confidence tllat•Chihn was moving forward steadily ars great commercial-and inthistrial country where -there Should be a constantly expanding market. Nor- did Sir Htigo express any apprehensions 'as,,to -the possible effect of any increase in present rates of taxation on cigarettes and tobacco. The company's results generalWfor the. past tear-were, of course, excellent, and; atter imying.iiividends /3n:the:ordinary shares of over 27 per cent., free of income tax, the amount carried forward was no less-than k4,837;000:- Moreover, the chairman stated at. ti meeting that the business for the first three months of the current year was continuing to expand.

A. W. K.