COMPANY NOTES
RICHARD COSTAIN. With the maintained 5 per cent. interim dividend, the company has issued a valuable half-yearly statement. The chair- man, Sir Richard Costain, states that the final dividend should again be 10 per cent, and that the . profits for 1959 will be slightly higher than those for 1958. He goes on to say that it may be possible to make a modest increase in the dividend in 1961 as the company has more work on its books in the contracting business than ever before. On the property investment side of the business it is expected that the $31 million block in Toronto will become profit-earning during 1960; the com- pany has started to build a block in Salisbury, Southern Rhodesia, which is almost fully let. The £1 ordinary shares, which prior to the statement were around £5 each, have fallen to 92s. 6d. xd., which rather discounts, for the time being, any modest increase in the dividend which is hoped for 1961; but nevertheless they are a very sound inVestment.
Hodge Industrial Securities. The chairman, Mr. Julian Hodge, so well known for championing the cause of the investor who has not always had a fair deal, very promptly issues 'audited' half- yearly accounts from April 1 to September 30, for this hire-purchase company. Total assets have nearly doubled at £1.12 million and the trading profit for the six months was £45,533 compared with £77,945 for the previous twelve Months. During the year the issued ordinary capital was increased from £30,000 to £126,888. Investments have appreciated to £191,939 from the book value of £94,537. The chairman states that business is running well ahead of last year's and will continue to accelerate. It is understood that, after March this year, the company's shares will be made available to the public through the Lon- don and Cardiff stock exchanges. It is possible at present to obtain 74 per cent, on deposit bank accounts with this company.
Unicorn Unit Trust. A new Trust complemen- tary to Unicorn, which was formed in 1957, is shortly to be launched. The managing director, Mr. Edward du Cann, MP, advises that the same management will be responsible for its develop- ment as in the case of the original Unicorn Trust, whose assets now exceed £7,000,000 held by 30,000 shareholders, including 4,000 Unicorn savings- scheme subscribers. Full details of this new trust will be published in the Spectator on January 15. United Dominions Trust have recently madc more widely known that they have for some yea given hire-purchase facilities to British Servicern stationed overseas to buy new or secondhand ca This proved a valuable help to many in Euro and the Far East, and it is believed that ,UDT alone in offering such a service. This class business increased threefold in October, 1959, compared with the same month in 1958. The ill
k ordinary shares remain a -strong market at jus laut , n( 1 over £10 per share to yield 24 per cent., whij Nein investors are willing to accept from this leadlog, Palk company in the hire-purchase business which hit mak( for so long commanded a high investment statO diary
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