A PROSPEROUS UNDERTAKING.
A Company which has shown excellent results for the past year is John Brown and Co. The profits, before pro- viding for Depreciation, amount to £714,379, as com- pared with £441,160 for the previous year. The -report states that deliveries during the year included two refrigerated cargo vessels for the New Zealand Shipping Company, and the cruiser Southampton.' The Cunard White Star liner ' Queen Mary ' completed her guarantee period of 22 voyages after the end of the financial year, and in addition to the construction of the sister ship to the ' Queen Mary' the Company has a very large volume of work in hand. The dividend now announced on the Ordinary shares is equal to 74 per cent., free of tax, on the original value of the Ordinary shares, and after Oaring £5o,000 to Reserve the balance carried forward of £162,3o6 compares with £95i462 brought in.
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