ANGLO-PERSIAN OIL

Waikato Times, Volume 111, Issue 18524, 2 January 1932, Page 9

ANGLO-PERSIAN OIL

COMPANY’S CAPITAL INCREASE. RECORD PROFIT IN 1929. United Press AS.sn.- Ftcnric Tel. Uopvriirai LONDON, Dec. 31. The Anglo-Persian Oil Company, Limited, is increasing its capital to £20,500,000 by the creation of an additional 2,500,000 £1 shares in order to acquire preference shares in several other companies. The company’s Issued capital is £23,925,000, of which £7,000,000 is in 8 per 'cent, and £3,500,000 is in 9 per cent preference shares. Of the ordinary capital, £13,425,000, the British Government owns 7,500,000 shares, which cost an average of 13s 4d each. It also holds 1000 8 per cent preference and £199,000 worth of 5 per cent debenture stock. The Burma Oil Company holds 2,861,000 shares, and, through a subsidiary, 700,000 shares. Only 2,363,010 ordinary shares are in tiie hands of the general public, and of this a considerable amount is understood to be held in large lines by influential interests. A record profit of £5,206,761 was established by the company in 1929, when a dividend of 20 per cent was paid. In 1930 the net profit fell to £4,648,579, and the dividend was reduced to 15 per cent. From 1923 to 1930, the British Government received approximately £6.050,000 in dividends from its holding.