ALLIED NEWSPAPERS.
In view of the general depression, which has by no means spared newspaper enterprises, shareholders of Allied News- papers, Ltd., were probably well prepared for the recent report showing that the profit for the year was £621,000 against £682,000 for the previous year. Very prudently the Directors have, in spite of the large profits, pursued a cautious policy, and have refrained from declaring any dividend on the Ordinary shares. During the course of his address at the annual meeting Lord Camrose referred to the continued success of the Daily Dispatch and also to the success of the Sunday Times. In order to pay for properties recently acquired in the North, loans were raised from various quarters, and it is now decided to convert these temporary loans into permanent finance. Accordingly, Resolutions were passed at the meeting increasing the capital to £8,750,000 by the creation of 2,000,000 new 61 per cent. First Preference shares of £1 each.
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