PROPERTY CompANY'S PROGRESS.
In view of the new blocks of flats and similar properties recently erected in almost all quarters of London, it is easy to understand that the London County Freehold and Lease- hold Properties, Limited, has had to face very severe com- petition. The success of the management in meeting the situation may be gauged by the results for the year to March 31st last. Net revenue continued its previous remarkably steady improvement, increasing to £297,236 compared with £274,778 in 1933-34, and enabling the directors to maintain the ordinary dividend rate at the satisfactory level of it per cent. on an increased amount of capital. Sir William J. M. Burton, presiding at the recent annual meeting, explained some of the factors which had contributed to the company's continued progress during difficult times. He said that it had been easier to obtain cheap money than cheap pro- perties, but that the directors had invariably made sure of finance before making a purchase. At the same time, pro- perties had in every instance shown an equity exceeding 14 per cent., assisting both in the maintenance of the com- pany's dividend and in the provision of funds for modern- ization. As Sir William remarked, the policy has paid shareholders handsomely.
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