12 JANUARY 1940, Page 32

JUTE INDUSTRIES RECOVERY Market hopes of a larger preference dividend

from Jute Industries are fulfilled by the raising of the payment from 3 to 4 per cent. In the full accounts for the year ended September 3oth, which cover a period ine4ding only one month of war but a long period of near-war conditions, gross profits rose from £88,216 to £110,923. Net profit, struck after allowing £55,000 for depreciation and obso- lescence, as a year ago, and transferring 0,000, against nil, for A.R.P., was £46,068, against £32,363, so that the 4 per cent. payment on the 8 per cent. non-cumulative pre- ferences is covered with £6,000 to spare. Substantial Government orders have contributed to this recovery and the larger volume of business now being handled is reflected in the balance-sheet in sharp rises in the stocks, &c., debtors, creditors and bank loan items. Heavier charges for wages and taxation will cut into gross earnings and position calls for cautious distribution policy, but altogether the outlook for preference holders is more promising than for some years past. the liquid

CUSTOS.