UTILITY ENTERPRISES.
For the most part, the reports of the big utility companies are of a satisfactory character, and the latest report of the County of London Electric Supply Company is a good oh, That company has pursued a steady policy of expansion and development, and for the year 1932 the total units sold rose to 604;599,183, as compared with 509,528,914 in the previous year. The revenue account showed a balance of £1,559,521, which compares with £1,397,687 for the previous year: The sum of £486,619 is now transferred to Depreciation Reserves, and that sum covers the contributions to Sinking Funds under the 1925 Act, while under the same Act there is transferred £33,500 to the Contingency Fund, £25,000 is reserved for taxation and £250,000 goes to the General Reserve. The dividend on the Ordinary Shares is maintained
at 10} per cent. * * * *
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