A GOOD REPORT.
It is encouraging to note that the accounts of Wm. Cory and Co. show a marked improvement in profit, which for the year ending March 31st last amounted to £654,000 against £602,000 for the previous year On that occasion the dividend was reduced from 17i to 15 per cent. and the Directors are now pursuing a cautious_ policy,_ retaining the 15 per cent. dividend but, adding 2100,000 to the Reserve as compared with £50,000- a year ago, while the very large carry over -of £765,542 compares with £742,425 a year ago. The strength of the financial position is further revealed by the fact that the Company's holding of British Government and other Trustee stocks totalling £3,275,000 is more than 2600,000 up for the year. The Company is notifying its intention to repay its 4f per cent. Debentures, of which £200,000 is outstanding.
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