24 NOVEMBER 1928, Page 48

* * SHIPPING PROSPECTS.

At the meeting held this week of the London Maritime Invest- Ment Company, the Chairman, Lord Kylsant, was able to.present a very satisfactory statement with regard to the financial Position. After adding over £8,000 to the Reserve, the Directors are in a position to recommend for the ninth year in succession a dividend of 8 per cent. on the ordinary stock, with a small increase in the balance carried forward. Alto-

gether the company now has a Reserve of nearly £250,000, the whole of which is invested in British Government Securi- ties. Moreover there are no debentures, and the Report states that a valuation of the company's investments shows that the capital and reserve fund are intact. Lord Kylsant was also able to report rather better conditions in the general freight market, and while times are, of course, still difficult, he expressed the hope that British shipping might look forward to a better period.