A GOOD INDUSTRIAL RESULT.
The report of Babcock and Wilcox Limited thoroughly justifies the recent declaration of a dividend of 8 per cent. for last year against 6 per cent. for the net manufacturing profit having increased from £97,757 to £230,596. The extra dividend costs £85,000, while the balance to be carried forward is increased from £23,388 to £44,406, although from the past year's profits £25,000 has been returned to the dividend reserve, from which £50,000 was taken last year. The dividend equalization reserve is thus now increased to £200,000. The Directors state that conditions began to improve towards the end of 1933, and the improvement continued during 1934 in the home market and in certain oversea markets. Tile Balance Sheet shows a good position. A. W. K.
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