PHILIP HILL AND PARTNERS.
Like most financiers associated with the promotion of new enterprises, Mr. Philip Hill is an optimist, but the hopeful views expressed by him at the recent Annual Meeting of Philip Hill and Partners were certainly justified by the results of that undertaking for the past year. The results for the entire year were good, but it was only during the second half that what had been a private company was converted into a public limited liability company, and Mr. Hill was therefore chiefly con- cerned with the results of the final six months. Over that period there was a profit balance of £356,000 as compared with the prospectus estimate for the whole year of £314,000. Mr. Hill, however, tempers optimism with prudence, and accord- ingly the dividend of 124 per cent. actually represented approximately only one-third of the amount available, a sum of £15o,00o being placed to equalisation of dividend
account. * * * *
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