E.S. AND A. BANK

Dominion, Volume 30, Issue 154, 27 March 1937, Page 12

E.S. AND A. BANK

Interim Dividend Increased By Telegraph.—Press Assu.—Copyright London, March 24. The English, Scottish, and Australian Bank, LtdL has declared an interim dividend for the half-year ended December 31 of 34 per cent. The dividend represents an increase of 1 per cent, for the period. The annual rate of distribution for the last five years has been 5 per cent., compared with S per cent, in 1931 and 124 per cent, for nine years prior to 1931. The dividend is usually paid free of British income tax. The shares of the E.S. and A. Bank, which are 60/- paid, have appreciated in recent months, and sold in Wellington last week at up to 26/11/-.

Gold Mining Returns By Telegraph—Press Association. Grej mouth, March 26. The Nemona dredge return .is Jlloz. for 152 hours and 16,700 cubic yards. The Worksop dredge reports a return of 320 z. WORLD SHIPBUILDING Recovery Shown Shipbuilding, one of the last of the more important industries to emerge from the depression, continued to make rapid headway during the past year. None the less, the mercantile tonnage of vessels launched during the past year was still 24 per cent, below the level of 1929. The trend of launchings in the United Kingdom and abroad in recent years, as given in the annual statistical summary published by Lloyd's Register of Shipping, is shown below :—

Mercantile Tonnage Launched. (In thousands of gross tons.)

While progress last year has been satisfactory, the United Kingdom’s share of total construction has fallen appreciably, from 55 per cent, in 1029 to 40J per cent, in 1936. The capacity of mercantile vessels launched abroad in 1936 was almost as high as in 1929. while the tonnage constructed in Great Britain was still 44 per cent, below the pre depression level. There has been a serious decline in foreign orders, partly due to subsidised construction abroad, which is causing anxiety among shipbuilders in Britain. Nevertheless, the rising trend of world trade points to a further improvement in the industry this year. -.

U.K. Abroad. World. 1913 ... 1932 1-101 3333 1929 . .. 1523 1271 2793 1933 .. . 133 3. >6 189 1934 . . . 4G0 508 067 1935 499 S03 1302 193G 856 12132 2118