7 JUNE 1935, Page 36

Financial Notes


; WHILE markets as a whole have been irregular, industrial shares have continued to display a remarkably firm undertone. I and public interest in this market is stimulated by the evidence which is continually coming to hand of improvement in British industry. The index of retail sales, published towards the close of last week, revealed an advance of 10 per cent. in April as against the corresponding month of last year, official figures show a steady increase in employment, and the annual reports of industrial companies are showing substantial improvement in profits compared with last year. Richard Thomas and Co., the steel and tinplate manufac- turers, which recently• underwent a capital reorganization, reports an advance in earnings of £160,000 to £635,000, and is paying a 6 per cent. dividend on the ordinary capital ' —the first return since 1924-25. In an entirely different I sphere, the Anglo-Persian Oil Company, which is largely interested in the importation of oil products for the British market, earned 13,183,195 in 1934, against 12,643,978 in the previous year, and increased the dividend on its ordinary !shares from 74 per cent. to 124 per cent. Improvements in earnings on these lines are now being reported by the majority • (Continued on:puge 998.)

Financial Notes

(Continued front page 996.)

of industrial undertakings, and the tendency for profits to rise has a significance outside the industrial market.