BRITISH COAL

Otago Daily Times, Issue 20022, 12 February 1927, Page 11

BRITISH COAL

WORLD TRADE RECAPTURED. AN AMAZING RECOVERY. (Tress Association—By Tslegraph—Copy right.) LONDON, February 10. The world markets have been recaptured by the British coal industry with astounding rapidity since the end of the coal strike. Official figures to-day show that 5,250,000 tons of coal were raisea from the mines during the last week in January. This pre-strike output—practically the entire export trade of a year ago—has been recaptured, and exports are now back to 1,000,000 tons weekly. So rapid has been the recovery in this respect that the equal of the post-war year 1025 was not only reached, but the peak year 1913 is very likely to be equalled.— A. and N.Z. Cable. EFFECTS OF THE STRIKE. REDUCED RAILWAY DIVIDENDS. LONDON, February 11. (Received Feb. 11, at 11.30 p.m.) The disastrous effect of the coal strike is seen in the result of the year’s working on several railways. The London Midland and Scottish is only able to pay a dividend of 3 per cent, after transferring over £7,000,000 from the reserve compared with 7 per cent, in 1924 and 6 per cent, in 1925. The Great Western transferred £2,000,000 from the reserve ta permit the payment of a dividend of 3 per cent, compared with 4i per cent, in 1925. The Southern Railway transferred £832,000 in order to pay a dividend of 1J per cent, on the deferred stock compared with 3J per cent, in 1925.—A. and N.Z. Cable.