CABLES AND WIRELESS.
At the recent meeting of Cables and Wireless, the Governor, Mr. J. C. Denison-Pender, had to refer to the unfavourable state of trade as reflected in the Company's returns for the past year, but at the same time hopes of a revival were ex- pressed. In referring to the Ottawa Conference Mr. Denison. Pender said that within the last few days the Company had reached an agreement in principle with the Canadian Marconi Company which would result in an amalgamation of cable and wireless interests in that Dominion. After dealing with the factors which had led the Directors to make the distribution on the Cumulative Preference Stock, the Governor said that the position of the current year would not permit the Directors to commit themselves to any statement as to the dividends for 1932 until after the completion of the accounts for the year, unless in the meantime there was a very substantial ha. provement in the world's trade and telegraphic traffic. He affirmed, however, that stockholders had no reason to he alarmed about their holdings, in support of which statement he set before them several pertinent facts.
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