UNDERGROUND ELECTRIC PROSPECTS. '
Optimism, none the less noticeable because tempered by caution, characterized the remarks of Lord Ashfield at the recent meeting of the Underground Electric Railways Company of London. The Stock Exchange had been hoping for some immediate scheme affecting capital arrangements, and because no actual announcement was made of such a scheme there was a temporary setback in prices of the stocks. The under- tone of the market, however, was really good owing to Lord Ashfield's hopeful remarks concerning the future. For something like twenty-four years about £5,000,000 of capital has gone short of a dividend, but the Chairman was able to say that present prospects were more favourable than they had been at any other time in the company's history and that the chances of a dividend were distinctly encouraging. He asked the shareholders to have a little more forbearance and patience before the end was achieved in the way of a return on their investments. He also indicated that before dividend payments on the Ordinary Shares were commenced the question of the Capital Account would have the attention of the directors.
Previous page
