The accounts of the Sulphide Corporation, the meeting of which
company was held early in the week, reflected the very serious fall in metal prices last year, while the company also suffered through the much restricted outlet for the products manufactured by the Newcastle Works, New South Wales. For the year to June 30th last a net loss of £67,609 was sustained as compared with a profit of £72,593 in the previous year. Lead concentrates realized an average of £14 Ils. 10d. per ton for lead, against £19 13s. Ad. in the previous year. Silver was 15s. 8d. per ounce, against 20s. 8d. per ounce and Spelter was £17 3s. 3d. per ton, as compared with £20 15s. 5d. To meet the situation the company's activities have been • reduced in various directions pending recovery, and in the meantime the directors and salaried staffs have relinquished a percentage of their remuneration. In the case of the directors the cut is as much as 20 per cent. of their fees. Shareholders may take comfort from the fact that sound finance in the past has left the company in possession of substantial liquid resources.
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