20 NOVEMBER 1926, Page 50

PASTORAL PROFITS IN AUSTRALIA.

In common with other Australian pastoral companies, the Australian Mercantile, Land and Finance Company suffered during last year by the drought in Queensland, and the profits declined from £328,000 to £298,000. Thanks, however, to the prudent management of the Company, the shareholders have received the usual 15 per cent. dividend, while there is a further allocation of £50,000 to the Reserve. Moreover, it must be remembered that the 15 per cent. dividend has required a larger amount owing to the increase in capital

during the year.