21 JULY 1928, Page 50

FURNESS WITHY.

The latest report of Furness Withy is a distinctly good one, the profit being 2627,750 against £603,511 for the pre- vious year, and only £523,044 for the year ending April 30th, 1926. The directors are, therefore, now able to declare a dividend of 10 per cent., less tax, which absorbs £320,000, while £200,000 is set aside for depreciation, and the balance taken forward is raised from £193,815 to £241,565. For the previous six years the company paid 74 per cent. free of tax, and the present rate subject to tax is equal to 8 per cent. free. It will be noted that even in the lean year ending April 30th, 1926, the company was able to pay as good a dividend as 74 per cent. tax free. A. W. K.