Dubrioes' FINANCIAL POLICY.
At the time when, in spite of a considerable increase in profits, fhe directors of the Dunlop Rubber Company announced that the dividend was merely to be maintained at the same rate as a year ago, some disappointment was felt by dealers in the shares, and at the annual meeting some criticism was offered. It soon became apparent, however, that the body of the shareholders entirely approved of the prudent policy adopted by the Board, one shareholder recalling the dire effects- of over-optimism many years ago under a previous administration. Moreover, Sir Eric Geddes, the Chairman, in the course of his remarks, while fully recognizing the increase in profits and the improvement in many directions, nevertheless gave abundant reasons for the cautious policy of the Board. Moreover, the Dunlop Rubber Company, like so manv other industrial concerns, is adversely affected by the unsettled state of the exchanges. Sir Eric Geddes, for instance, after stating that the profits earned in Germany during 1934 were substantial, stated that for the. time being, owing to rigid exchange restrictions, the company could not receive any return upon its investments in that country.
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