NOBELS.
Speaking at the annual meeting last week of Nobel Industries Sir Harry McGowan was able to give a very cheerful statement of the position. He showed, among other things, that while the Report had revealed a reduction in the nominal amount of the surplus, a corresponding reduction had been made under the head of possible contingencies, and the net margin of asset value over and above the share capital had again been improved. While referring to the difficulty of making a forecast owing to the trade depression and the present dispute in the coal industry, Sir Harry McGowan expressed hopefulness with regard to international trade generally, and the company, with its great holding of Invest- ments in allied undertakings, is now in a position to look for .
something like stable conditions in its general revenues. * * * *
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