DORMAN, LONG RECONSTRUCTION.
While the latest proposals for the reconstruction and capital reduction of Dorman, Long and Co., the big iron and steel combine, are somewhat less severe than those contained in the scheme of a year ago, which fell through, they are still sufficiently drastic to indicate the terrible losses which have been suffered by shareholders in concerns affected both by the Great War and by the prolonged trade depression. There is now some improvement to note in the iron and steel outlook and that, no doubt, is responsible for the fact that the present plan is a little less drastic than the one of a year ago. Never- theless, under the present scheme it is proposed to reduce the share capital to £2,007,271 by writing off £9,240,875 regarded as lost or unrepresented by available assets.
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