FINANCIAL NOTES
IMPROVING RUBBER FIGURES
THOSE rubber shareholders and directors who feel that the International Rubber Regulation Committee was gambling when it decided upon an increase in quotas on January ist must admit that so far the figures suggest that the gamble is succeeding. United States rubber consumption for Novem- ber, at 46,048 tons, was nearly 6,000 tons higher than the October figure and about 3,000 tons above market expecta- tions. It was the best figure since May. Messrs. Symington and Wilson's estimate of world stocks outside the regulated area at the end of November was 489,828 tons, nearly 27,000 tons lower than in October, and since one looks for low shipments and good American consumption -again this month, it seems that we may end the year with world stocks of about 470,000 tons. This would be about 30,000 tons less than at one time seemed probable, though stocks would still amount to about five and a half months' supply and be more than adequate to moderate the tempo of price recovery.
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BOOKER AND McComau.
Booker Brothers and McConnell have succeeded in earning a high rate of profit notwithstanding the difficult conditions in the sugar-producing industry. Since their main business is in Demerara and is affected by the International Sugar Agreement, Sir Alfred P. Sherlock, the chairman, warned shareholders at the meeting that they could look for little if any, increase in business and that the estates subsidiary would not do so well this year. In spite of these adverse influences he anticipates a repetition of the past year's good figures unless anything unforeseen happens.
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AMALGAMATED BANICET AREAS
Amalgamated Banket areas, one of those gold mining ventures which has recently conducted a vigorous development pro- gramme in the West African goldfield, is to raise additional capital. It is proposed to increase' the authorised capital to k2,3oo,000 by creating 2,200,000 additional 5s. ordinary shares and to offer 1,400,00o of these shares to existing shareholders at the attractive price of 7s. per share. These shares are offered as rights in the proportion of one new share for each 5 held. In addition, the groups associated with the company are to take about 750,000 shares in satisfaction of a loan for f,25o,000 plus accrued interest, leaving about 50,000 of the new shares unissued.
The company has already declared a dividend of 5 per cent. for the year ended March 3tat, as in the previous year. It DOW Shows profits of £79,539, against £71A4o, and the directors state that only a small portion of the vast area held has been exploited, and that the results so far exceed expecta- tions.
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