26 JUNE 1926, Page 32

As in the case of the British American Tobacco Company,

so with the " Shell " Transport and Trading Company, the satisfactory financial position made the discussion at the annual meeting very brief, though an able speech was delivered by the Chairman, the Hon. Walter H. Samuel, summing up the financial position and the outlook of the company. He gave ample reasons for the parent company investing fresh capital in the various operating concerns during the year, and pointed out that the past year was one in which the company had been able to maintain its earnings to the full, at the same time laying the foundations of increased earning capacity in the future.

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