A GOOD PROFIT STATEMENT.
The preliminary profit statement issued last week by Singer and Co. affords refreshing reading to the shareholders. Some rumours appear to have been current in the market with regard to fresh capital requirements, but such rumours would seem to obtain their denial in the extraordinarily strong financial statement showing that the cash in hand amounted to no less than £597,600. The revenue for the year was also £140,000 against £122,000, and, although the amount of capital to be dealt with is larger, the high dividend and bonus was maintained at the same rate as a year ago, while, although no definite announcement has been made, the preliminary profit 'statement is strongly suggestive of some further bonus share distribution, an extraordinary general meeting being held shortly " to authorize the revision of the Articles of Association giving power to capitalize profits standing to any reserve or other special account, or profits which have arisen from any past appreciation of any assets, whether representing accumu- lation of profits or ascertained by valuation, if the company in general meeting upon the recommendation of the directors resolve that it is desirable to capitalize such profits and distri- bute them in the form of bonus shares to the members."
A. W. K.
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