(FINANCIAL NOTES—Continued from pagc 940.)
-P.R.H.A.
The fact that the People's Refreshment House Association, Limited, has for its president Viscount Ullswater, ex-Speaker of the House of Commons, and that its vice-presidents and council include the names of men well Flown throughout the country, is, of course, .a sufficient testimony to its bona fides, and there is little doubt that it has done, and is still doing, an' excellent work. The Association now has something like 177 licensed inns and hotels under its control, and among its aims is the encouragement of temperance in the use L f alcoholic drinks at licensed inns, public-houses, and canteens. In other words, its campaign is in the direction of moderation rather than in that of total abstinence. A feature of the business is that the managers receive no profits on alcoholics, while they receive a large share of profits on non-alcoholics and food. In addition, however, to the ethical or social aspects of the scheme, it is satisfactory to note that the Aisociation appears to be prospering, the annual report for last year showing that after providing for depreciation and the interest on the Loan Stock, there was a sum of £15,623 divisible and a dividend was paid at the rate of 6 per cent., in addition to placing £2,000 to a Contingency Reserve Fund.
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