FURTHER HEADWAY

Northern Advocate, 22 March 1934, Page 5

FURTHER HEADWAY

BRITISH INDICATIONS CURRENT FINANCIAL YEAR. TREASURY DISCLOSES SURPLUS. (British Official Wireless.) (Received 9 a.m.) RUGBY, March 20. The Avoekly Treasury returns show that up to March 17 the total ordinary revenue for the current financial year amounted to £690,053,578. This figure ,—Avhich is Vvithin £2,724,000 of the estimated total revenue for the whole year ending March 31 —slioavs a surplus ever ordinary expenditure (including American debt payment, £3,304,392) of £29,259,971. A sum of £7,215,079, hoAvever, has been allocated to sinking fund for the repayment of debt, leaving a net balance to date of £22,037,874. The return slioaa’s that amounts 64 £11,966,000 in inland revenue and £7,762,000 in customs and excise were collected last Avcck. During the financial year to March 17 the total yield of inland revenue ayiis £369,078,000, anil the total yield of customs and excise, £277,277,000. Outgoings last week in ordinary expenditure amounted to £12,309,353.

INDUSTRIAL PROGRESS. BIG FIE M’S FIGURES. (British Official Wireless.) (Received. 1 p.in.) RUGBY, March 20

Business aud financial circles have awaited Avitli great interest a report issued this evening of Imperial Chemical Industries, Ltd. As the concern is one of the greatest undertakings in Britain, Avith interests in many branches of industry, the figures Avero regarded as in some measure providing a criterion from Avhich the progress made toAvards recovery in Britain could be judged. The figures show gross income for the past year of £7,633,945, compared with £6,415,423. After allocating £1,000,000 for general obsolescence and depreciated funds and income tax, there is a net income of £6,001,605. 'A final dividend is recommended of 5 per coni*., making 74 per cent, for the year, which compares with a total distribution for the previous year of 6 per cent. A dividend of I per cent, is also- recommended on deferred shares, as against nil. A sum of £1,000,000 is placed to general reserves, as against £500,000, and £566,139 is carried forAVard.

The report was not issued until the Stock Exchange had closed, but the street market regarded the figures as very satisfactory, and share prices rose.

PROBABLY £30,000,000. 1 AT CHANCELLOR'S DISPOSAL. ! CONJECTURE AS TO USE. j j (British Official Wireless). < (Received 12.30 p.m.) RUGBY, March 21. Although the Chancellor of the Exchequer, Mr Neville Chamberlain, in response to many leading questions put to him by private members of the House of Commons, absolutely refused to anticipate his Budget statement to be made on April 17, there is.much discussion as to how :he will use the surplus which it is uoav clear that he will-have at his disposal on March 31. The revenue returns on March 17 shoAV that the surplus then amounted to over £22,000,000, and it is expected that this figure will reach £30,000,000 in the fortnight still to run. The revenue already collected is under £3,000,000 less than the estimates for the Avhole year, and customs receipts haA r e already yielded £4,500,000 more than their totalled estimated productivity. The figures leave no doubt of the immense improvement taking place in the industrial trading conditions.