A PROSPEROUS INDUSTRIAL.
It is always pleasant to comment upon a prosperous Home Industrial concern, especially when that prosperity is pro- gressive. The reports of Cerebos, Limited, almost incline one to the view that there is nothing like salt." For some years the results have been of an excellent character, and a year ago, in addition to a dividend of 30 per cent., free of tax, the Directors distributed, by way of bonus, one Ordinary share for every two held. This means, of course, that the dividend this year has to be paid on a much larger capital. Nevertheless, thanks to a further increase in trading profits, the Directors are able- to maintain the same distribution of 30 per cent. free of tax, and that after placing £50,000 to the Reserve, leaving a substantial balance to be carried forward. The balance-sheet, too, is a strong and liquid one.* *
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