A CEMENT MERGER.
Quite the most interesting point in the annual Report of the Ship Canal Portland Cement Company for the past year is the i=a-imation of a further enlargement of the company's sphere of activities, through the acquisition of an important cement making business in the south of England, while indications are given of other negotiations pending showing that a policy of consolidation is being pursued. The Directors express the opinion that the time is ripe for the merger of the shareholding of the Associated Companies, Greaves Bull and Lakin Ltd., Holborough Cethent Ltd.,' and Dunstable Cement, by an ex- change of fully paid shares of the Ship Canal Co. A plan to this end has been formulated in connexion with British Cement Products & Finance Co. Ltd., and details are to be .given by the chairman in his speech at the annual meeting next week. The plan has already met with the full approval of some of the more important shareholders in the different companies. There was a slight reduction in the dividend for the past year, but it has to be remembered that it was paid on double the amount of ordinary capital, and involves an amount of £80,000
as compared with £50,000 a year ago. . A. W. K.
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