V. O. C.
Very encouraging statements and forecasts were made at the recent meeting of the V. 0. C. Holding Company by the Chairman, Viscount Bearsted. Some months ago the Chair- man had intimated the likelihood of a 3,000,000 ton oil output being reached this year, and it appears that for the first six months the production was as much as 1,570,982 tons, thus indicating the extreme probability of the total of 3,000,000 being reached or exceeded, by the end of the year. Lord Bearsted also expressed the opinion that the year would see lower production costs per barrel as compared with the previous year. Prices for the next six months • are to be settled by an arbitration to be conducted by a Special Committee, and consequently Viscount Bearsted made it clear that while he was able to predict results as regards the output, the financial results would have to be appraised at a later date. Judging, however, from the movements of the shares, it looks as though the shareholders took a favourable view of the outlook.
A. W. K.
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