DIAMOND TRADE SHOWS IMPROVEMENT

Wanganui Chronicle, Volume 80, Issue 136, 10 June 1937, Page 12

DIAMOND TRADE SHOWS IMPROVEMENT

DE BEERS REPORT GROWING DEMAND. The largest diamond producing corporation in the world, De Beers Consolidated Mines, Ltd., in Kimberley, have just published their annual report for 1936, which reveals the continued improvement of the diamond trade throughout last year. The demand for diamonds, says the report, continues to expand, and the prospects for 1937 are satisfactory. In the accounts is shown an unappropriated balance of £1,329,000 as against an unappropriated balance of £54,800 a year earlier. The company’s diamond account amount to £2,242,803. Added to those figures are interests and divends on investments, £843,850; profit on investments realised £416,700; making a total of £3,570,500. Expenditure was £639,700, leaving a balance of £2,930,800. There was £1,200,000 arrear divend due to holders of preference shares, which was, however, more than covered by the unappropriated balance. The directors expect that these arrears and the dividend for the current six months, amounting in all to £2 a share, will be paid in July. Holdings in diamond mining companies, the Diamond Corporation, Ltd., and kindred interests were increased during the year by £145,350.