GAS LIGHT AND COKE COMPANY.
The Gas Light and Coke Company's report shows that the net revenue for 1937 declined by £41,843, and in order to maintain the dividend of £5 I2S. per cent, for the year on the ordinary stock it was necessary to reduce the balance of undivided profit by £110,802 to £102,376. The accounts can, nevertheless, be described as very reassuring. Gross revenue expanded by f537,892, partly because the sale of coke and other by- products has continued to grow, and partly through larger sales of gas. Expenditure has risen by £580,635 and there has been nearly £3,000,000 of additional 3f per cent. preference capital ranking for dividend. During 1937 the company had to face higher coal prices, higher maintenance costs and pay (Continued on page 207.)
FINANCIAL NOTES
(Continued from page 206.)
dividends on a larger capital. The benefit of the recent increase in the price of gas has not yet come into account. * * * *
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