SOME BOOKS OF TIIE WEEK.
[Under this heading we notice such Books of the week as have act bun reserved for review in other forms.] Stock Exchange Ten-Year Record of Prices and Dividends. Compiled by Frederic C. Mathieson and Sons. (F. C. Mathieson and Sons. 10s. net.)—A somewhat startling record this. We must, of course, give no names in the section which would make the most interest- ing reading, the "Commercial and Industrial," but it is allowable to give a general warning that the most promising enterprises, however skilfully and honestly managed, are liable to great -vicis- situdes. One thing is evident at once with regard to investments generally : that money gets a better interest than it did ten years ago. Even the best gilt-edged securities are cheaper. In 1901 Bank of. England stock fetched £342—we give the highest price in all cases—and in 1911 £272. In the former year it paid 10 per cent., in the latter 9 per cent. ; but we see that the first- figure shows a dividend of ..€2 18s. 5d., the second one of £3 6s. Railway ordinary stock gives the same result. Great Western stock cost £1494 and £127fg, the dividend being £4 per cent. for 1901 and £54 per cent. for 1909. Perhaps, as 1901 was disturbed, it would be fairer to take 1903, when the 'dividend was £54 per cent. and the price £143 17s. 6d. But the romance of the matter, so to speak, is to be found else- -where. A correspondent in last week's Spectator mentioned as a capital instance of worldliness, if not of wickedness, that clergy- men died possessed of Brewery shares. Evidently he believed that breweries were still Eldorados. Here are some brewery dividends taken alphabetically as they stand. In 1901 (1) 16s., (2) 12s., (3) £14, (4) -£5, (5) £1, (6) 10s., (7) 19s., (8) 9s. 6d., (9) 16s. The shares were of very varying amounts. In 1910 the figures were (1) 6s., (2) nil, (3) £3, (4) nil, (5) nil, (6) 7s., (7) 3s., (8) nil, (9) 10s. 'The Industrials proper—Breweries and Distilleries have a section to themselves—show fluctuations not less surprising.
Previous page
