5 OCTOBER 1929, Page 50

* * * * A PROMISING TRUST.

The City and International Trust has very quickly reached an enviable position of financial strength and promise of increasing returns to its stockholders, for although only in its third year, the company is paying 91 per cent: oa its Ordinary stock for its financial year which ended on August 31st last, and this dividend is paid out of a revenue which represents slightly over 91 per cent. on the stock, thus leaving a substantial margin of surplus revenue which is used toincrease the General Reserve. Apart from thig surplus revenue, a sum of nearly £30,000 was realized on sales of Investments in excess of book cost, and this sum was applied to liquidate the expenses of the Debenture issue made during the year and the balance used to writing down securities, a valuation of which showed an excess over the figure at which they are entered in the books of the Truit. The company's Ordinary stock is quoted at 138 at which the yield on the 61 -per.cent. dividend is £4 14s.. per cent., but the company's. earnings represent nearly 7 per cent. on market value. The 5 per cent. Cumulative Preferred stock is priced at 85, yielding £5 17s. 9d. per cent., while the 5 per cent. Debenture Stock is still obtain- able in the market at 94/, free of stamp duty and registration fee, and it gives a well-secured' yield Of 15.6s. per cent.