INTERNATIONAL TEA.
Shareholders of the International Tea Company's Stores would seem to have every reason for satisfaction with regard to the past year's results, which certainly give no indication of the Company having suffered from its decision to preserve its independence. The trading profit for the year was no less than 1820,164, as compared with 1755,360 for the previous year, and the available balance was 1952,460, against 1887,116. The Directors are able to recommend a final dividend of 18 per cent. on the Ordinary Shares, making 80 per cent. for the year, while £40,000 is placed to the Income Tax Reserve and £133,000 carried forward. The balance- sheet is again a very strong one. Goodwill stands at nil, while the Cash in hand at the date of the balance-sheet—namely, May 2nd last—was £480,655, with British Government Securities also standing in the balance-sheet at 1284,613. * * * *
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