FINANCIAL JOTTINGS.

Press, Volume LXIV, Issue 13225, 19 September 1908, Page 6

FINANCIAL JOTTINGS.

(raO-t~OVB OWN COBK-SrOWDKHT.) LONDON, August 7. The report of the well-known brewing firm—Messrs Brisa, Ratcliff and Grettbn —for the year ended 30th June, shows a profit, before charging interest on debenture stock, of £295,045, which, with £12,255 brought forward from tho 'previous year, makes a Hotal of .£307,301. Of this amount £216,800 has been appropriated to the payment ;of interest on debenture stock, divijdfends on preference stock, and an in- | terim dividend of 5 per cent, on the' ; ordinary shares, free of income tar. leaving a; balance of £90,501. ' Out or this it is proposed to declare a further dividend on the. Ordinary shares of 6. per cent., making 11 per cent, for the year, and to carry forward £8901.; - ; The present depressed condition of affairs in the shipping industry is stated to be the worst, on record. Shiyyirig is the first to feel the effect of-depres-sion in trade, but the last to benefit by any improvement. : - The present crisis has been so acute that, the reaction; ought to be all the sooner. If trade is bad in the United States it reflects on this oountry in . particular,.' and' vice .versa. It is said there are already in-, dications of improvement in America, but this will have to extend to German and other Continental centres the lessened_ output will again equalise; the everlasting; problem of supply and demand. The reports oi the , coming hannasts in - United '■■ ] States, in '~ Canada, and in India, are most encouraging, and will, it, is expected, help: to' relieve the market in the autumn, and"; by next year there, should be some improvement in shipping. 'The' amount, of mercantile tonnage under tion on the 30th June last-was about 800,000 tons, being fully 450,000 y-tons less than a year ago, and is the lowest ; total recorded since 1896. ers are feeling the pinch most acutely many yards are empty, and'only a few are partially occupied; y mostly; with liners and special types of 'steamers. The competition for; new orders is ex- . oeedingly keen, and is likely to be. mtfro ; so as the work in hand is completed. ';.'-. The land occupied by. the yvarious companies forming the American Steel Trust has an area equal to that of th© kingdoms of Saxony and .Wurtemberg y and the Grand Duchy of Baden united..: The railway lines belonging to the Trust are as great as ; those ;•; of the'. Orient Express. An; army of.> workmen, . numbering 170,000 is engaged, and these receive in salary 665,000,000 francs, or £26,600,000 per annum. The Tnist owns 100 ships, 30.000 waggons, • and 700 locomotives. The Trust's 60 mines supply the greater, part of tho world's production of finished steel. From tho coal. ; mines they • extracted 10 million tons- annually. jyßeyond this, the works require 11 million tons of coke and 15 milliards of cubic metres of gas. Thar total production of the Steel Trust exceeds that of England and Germany together. After contemplating such figures, one can only speculate on the brain power _ which ' conceived so gigantio an operation.