TOBACCO PROSPERITY.
It looks as though the old saying " There is nothing like leather " would have to give place to the more up-to-date phrase, " There is nothing like tobacco," especially, perhaps, when we are dealing with the matter along the lines of combines. The very happy proceedings at the recent meeting of Carreras Ltd., when the Chairman was presented with his portrait painted by Sir'William Omen, R.A., were certainly the expression of no mere perfunctory compliment, but of a very real and genuine appreciation of what the Chairman of that great undertaking has done not only for the shareholders but for everyone connected with it. Dividends and share bonuses have been on the grand scale, and, equally, share- holders have had the satisfaction of knowing that the employees from the highest to the lowest have been treated generously.
And now during the" last few days the full report and accounts of the British American Tobacco Company show that that undertaking remains in a flourishing condition. The dividend of 25 per cent., free of income tax, for the year is maintained, and in the case of this big concern the dividend means a distribution of over £6,000,000, while the balance sheet shows .total assets of £41,566,000, of which £21,931,000 consists of investments in Associated Companies, and 25334,000 of Loans to and current accounts with them. '
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