FOKESTAL LAND.
In view of the excellent character of the recent report and also the increase-in the dividend,: the address to shareholders of the -Forestal Land Timber and -Railways Company -might be described as a model of conservatism. Commenting upon the figures for the year, showing a profit of £446,000 against £200,000, Baron Emile D'Erlanger, nevertheless, was at much greater pains to impress shareholders with the nature of the undertaking and the contingencies to be borne in mind than with anything in the shape of laudatory references to the results: achieved during the past year. Among other things, the chairman pointed out that future prospects must necessarily- re be linked with world conditions, and he further reminded shareholders that, as in all other vegetable industries, there always lurks in the background the bugbear of-synthetic products. The Forestal Company, however, is a well managed concern and, as usually happens when the chairman takes an ultra-conservative view, the result is to strengthen rather than impair shareholders' confidence in the future.
Previous page
