TANGANYIKA DEVELOPMENTS.
Additional interest was imparted to the meeting held last week of shareholders of the Tanganyika Concessions, Limited, by the fact that the managing director, Sir Robert Williams, who had just returned from a visit to Angola, delivered an important speech dealing with the most recent developments. Earlier in the proceedings the chairman of the company, Sir Reginald Wingate, paid a warm tribute to the services which had been rendered by Sir Robert Williams during a quarter of a century of devoted work, largely given to the achievement of completing the Benguela Railway extension from Lobito Bay to the Belgian-Portuguese Frontier at Limo. In his speech Sir Robert referred to some of the many bright spots in the general outlook for the shareholders of the company. Among other things, he pointed out that the Union Mmiere had paid a dividend for 1928 of about £1,206,000 as against only £663,000 for the previous year, and despite the partici- pation of the " privileged shareholders " who were entitled to 25 per cent. of the profits from 1928 onwards, the Tanganyika Company received in dividend on its holding of Union Miniere shares an amount of £246,512 against £185,831 in the previous year. This dividend of the Union Miniere is not shown in the latest Tanganyika accounts, but will go to increase the income from dividends in the current year. Moreover, it appcors that since the results for the past year were obtained, the average price of electro has risen, thus still further strengthen- ing the financial position of the Union Miniere.
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