4 AUGUST 1928, Page 26

WATNEY, COMBE.

The report of Watney, Combe and Reid was also an excellent one, the profit for the year having increased from £1,341,000 to £1,385,000. In this case a final dividend of 12 per cent., making 19 per cent. for the year, was declared on the Ordinary, while £400,000 is placed to the reserve and a balance carried forward of 2278,000. The balance-sheet shows the cash on hand to be over £900,000, while investment securities stand at over £500,000. In the case of this company the 31 per cent. Perpetual Debenture stock gives a yield at the present price of just over 5 per cent., while the Cumulative First Preference shares give a somewhat higher yield. * * * *