Company Notes
TN his statement to stockholders, the "chairman of W. H. Smith (Holdings) Ltd., the Hon. D. J. Smith, naturally strikes a note of caution on account of the printing dispute, but not one of pessimism. He states that he anticipates spending about £11 million over the next three years in en- larging and expanding the company's branches and this will be done from their own resources. Apart from the well-known bookstall and stationery activities, the com- pany has now added the retailing of long- playing gramophone records at several of its shops in London and Birmingham, which Is proving very successful. The net profit was £1,167,190—an increase of £402,141—for the year to March 31, 1959. The dividend is to be 12 per cent. and a bonus issue of 1 for 10 shares is proposed from capital reserves. Next accounts will be made up to January 31, 1960. The £1 'A' ordinary shares at 60s. yield 4 per cent. The forecast increase in dividend—ia fact, 2d. per 10s. unit—will be welcomed by shareholders of the London County Free' hold & Leasehold Properties. This will make a total of 10d. (8.3 per cent.). The chairman, Mr. T. J. Cullen, points out that this has been made possible by the increased rents from commercial and residential properties, that have at no time been subject to rent control. The company celebrates its fiftieth anniversary this year with assets of £18,442,013 as against assets of only £65,000 when the company was incorporated in 1909, as a private company. Its many residential properties are the well-known Key Flats. Gross rental income for the year to March 31 was £3,061,072; the net profit was £446,412 compared with £302,931. The 10s. ordinary shares at 17s. yield 4.8 per cent,
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