11 MAY 1929, Page 36

There were three points which gave special interest to t

recent meeting of the Dunlop Rubber Company. There first the interest which always attached to the statements the Chairman, Sir Eric Geddes, with regard to the position this very important undertaking, there was, secondly, the into which had been felt as to any statements about future cap' requirements, while in the third place, the market was anxi to learn Sir Eric's views with regard to the general rub outlook. As regards the first of these points, it was indicatio of the assured financial position to which the company Is attained that the Chairman was able to announce that th directors had come to the decision to pay interim dividend in the future. These are to commence as soon as the Boo has been able to satisfy itself as to the probable results of tb half-year's trading. It is true that Sir Eric added the canting ary intimations that the interim dividend should not be takd as an indication of the trading results of the company for tb entire year, but all the same it is always a sign of strength wild a concern of the standing of the Dunlop Company feels that i is justified in making interim distributions. The past yd was, of course, a difficult one owing to the sudden removal rubber restriction and the directors have transferred £1,500,00

* Since this note was written the Reparations crisis has be accentuated by proposals detrimental to the just claims of t h country.

from the Reserve, the profits of the company having been reduced by about £1,700,000. The period, however, was a wholly exceptional one, and Sir Eric was able to report a thoroughly satisfactory position at the moment, and was able to speak with some confidence with regard to the outlook. As regards the new capital proposals, the shareholders passed a resolution authorizing the directors to issue 3,000,000 new Ordinary shares, but the Chairman explained that no general issue of capital was actually imminent. With regard to the sudden cancellation of rubber restriction lait July, Sir Eric expressed the great loss which it meant to their company during the year. Nevertheless, he also, expressed the view that the industry had passed successfully through the anxiety and dislocation caused by this abolition of restriction, and that the future was bright.