• * • - IRON AND STEEL DEPRESSION.
On more than one occasion I have referred in these columns to the fact that while the crisis in the Coal industry may have passed, its effects must be revealed for some time to come upon the results of industrial companies, and especially of those in the Iron and Steel industry. One of the latest Reports to be published is that of Dorman, Long and Co. which appeared earlier in the week, and it shows that for the past year there was a loss of no less than £179,000, increased to over £400,000' after payment of Debenture interest charges. For the preceding year there had been a profit of £231,000, or more than sufficient to cover the Debenture interest. In the case of kindred companies, the Cargo Fleet Iron Company secured a profit of only £2,000 as against £73,000 for the previous year, before providing for Debenture interest of £40,000 per annum. Finally, the South Durham Steel Company notifies a loss of 117,650, as compared with a profit of £94,000 for the previous year. It must certainly be recog- nized that shareholders of our Iron and Steel companies have been pretty severely penalized by the prolonged Coal Dispute, to say nothing of the unfavourable conditions in the Coal industry and high prices which have hampered the Iron and Steel industry for many a long day.
Previous page
