Page 10 Advertisements Column 1

Press, Volume LXIII, Issue 19112, 22 September 1927, Page 10

PROSPEROUS BRITISH MOTOR FIRM.

■ SINGER AND COMPANY. LIMITED. STRONG FINANCIAL POSITION. The nineteenth ordinary general meeting, of Singer and Co., Ltd., was held on Thursday, September Bth, at the registered offices, Coventry, England. Mr It. Fane de Salis, chairman of directors, said tliat the report and accounts were such as could not fail to dive satisfaction to the shareholders. They had made a profit of £140,364 or £18,412 more than in the previous year, and with the amount brought forward they had £162,731 at their disposal. They recommended a dividend and bonus of 25 per cent. .on 333,380 shares and a quarter of that amount on the new issued shares in accordance with the terms on -which they were offered for subscription. The altered . form in which the . accounts were presented .showed the sound financial position of the Company. The amount of. the assets was £1,780.274 and the total liabilities amounted to only £313.626, so that the net assets, were £1,466,648, as against the share capital of £666,760. They had therefore a surplus of £799,887. _ They were going to appropriate. for dividend and other purposes £121.182, leaving a net surplus over all liabilities and the issued share capital of £678,705,'0r more than 100 per cent. The directors had given some consideration to the question of the distribution of some portion of the reserve in the form of a bonus share but at the moment, for various reasons. they had not come to any definite conclusion and could make no recommendations, but they would not unnecessarily delay their decision. During'the past year they had considerably increased their productive capacity without which it would not have been possible to obtain the increased output whirli. had given them their profit. The Birmingham factory just purchased was a fine building and they might be able to double their output. By that purchase they obtained a working alliance with the Daimler and B.S.A. Companies. The past year had been one of steady progress disturbed by no labour disputes. The resolution for the adoption of the report .and accounts was moved by the chairman, seconded by Mr A. C. Bourner, and carried unanimously. —2

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