PROFITS IN COTTON.

Wanganui Herald, Volume LIII, Issue 15970, 12 November 1919, Page 5

PROFITS IN COTTON.

Australian and N.Z. Cable Association, Received November 12, 10 a.m. LONDON, November 10.

The directors of J. P. Coates are seeking shareholders’ authority ito capitalise 10J millions of reserves, making the total capital 20-’- millions. They point out that the scheme does'not increase the company’s earuings, hut reduces the apparently high dividends, which the public are adversely criticising.

The year’s, profits made by J. P. Coate? and Co. - , cotton manufacturers, was after payment of excess profits. Ordinary shares received a dividend of 40 per cent, and a sum of .£2,399,288 was carried forward, making the reserve funds eleven millions.