3 DECEMBER 1937, Page 56


At the annual meeting of the Wankie Colliery, held last Tuesday, the Chairman, Sir Edmund Davis, gave some very interesting details of an independent valuation of the company's properties and their equipment. It appears that one of the reasons for the revaluation was a development in the No. 2 Colliery where the coal seam had a width of 33 ft., of which 25 ft. was being worked. The Chairman stated that if they had known the width and value of the deposit in this particular locality, the whole of the works would have been installed on that site instead of in the inconvenient situation where they were now. In reply to a question by a shareholder about the likelihood of a bonus distribution to shareholders, the Chair- man reminded shareholders that in the past £606,000 had been written off by way of depreciation, and he added : " Whether we should eventually make a capital return to members in the form of fully-paid shares is a matter we are unable to deal with at this moment, but as soon as Lord Lloyd and I return from our visit to the colliery we may, perhaps, consider it advisable to suggest to our colleagues that-we should take into considera- tion the question raised at this" meeting." A. W. K.