Financial Notes
(Continued from page 672.)
HUDSON'S BAY PROGRESS.
I am glad to be able to record that the latest report of the Hudson's Bay Company for the year ended January 31st last shows that continued quiet progress is being made despite the fact that not only is the economic recovery in Canada slow but at present it has scarcely extended to the Prairie districts where the interests of the Hudson's Bay Company mainly lie. A year ago the Company was able to show a small profit following upon three years of some substantial debit balances. This year, however, there is a net profit of just under £41,000 as compared with a little over £28,000 in the previous year, and the net profit is announced after making full provision for British and Canadian taxation. Moreover, a good feature in the report is the fact that while for some four years the Land Account, after making alloca- tions to the Capital Reserve Fund, showed deficits each vear, for the past year, after making the allocation to the Capital Reserve Fund, there is a surplus of £4,240.
Previous page
