24 NOVEMBER 1928, Page 48

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FORTNUM AND MASON.

The increase of capital made last year by Fortnum and Mason would seem to have been thoroughly justified by results, the profits for the year ended August 31st last amount- ing to £52,671 against £42,447. The new shares- do riot 'rank for dividend until the current year. The dividend on the Ordinary. Capital of £125,000 is 20 per cent., and £15,238 is carried to the :General Reserve,. while the carry forward is . also increased; and ft is eiident therefore that there is every likelihood of a maintenance of the 20 per cent. on the addi- tional £50,000 of capital, shortly to rank for dividend, even Without allowing for the extra revenue-earning power of the A. W. K.

'Crew capital itself.