The Times from London, Greater London, England • Page 21

am THE TIMES FINANCE COMMERCE Al tSH11PINGfr URanu JV 1914. 21 OMNIBUS COMPANY'S POSITION. TV yationi SteamCar Company whose Jt SR the subject of a directonsl statement. with Tfllings 1 distinction of keeping London omnibus companies of i JISVO handed. themselves over General Omnibus Company.

thftop two have an arrangement with the nl with retard to routes so BS. to avoid competition bat they still retain control the running and maintenance of- their onaibtrw. The career of the National tie only surviving company in London. Bag power for its omnibuses has been with special interest. It has.

how. been marked by much. disappointment. lid tie latest information as to the company's rations- does not afford encouragement. Jon its inception three years rgj the corn- ply worked in competition with.

the great Into General undertaking now controlled tie tnderground group. and from time to till' this competition assumed an extremely rre form. Attempts to bring the company run tte London General were IrZrcid by the independent attitude adopted Ivbe Sstional directors who sturdily main- ttai superiority of their steam omnibus r4beir ability to hold their own. Nearly a however. when the duplication of.

hsd only wasteful to the but dangerous to the public because tk congestion of traffic an agreement for n' srrsngrment of routes was concluded. the- shareholders of the National last net tl. had not enjoyed the effects of this tn wngement and the results put before tin ere officially described as having I Vved in II re8d' of exceptional 11 directors pleading the ex. I t2sl working. conditions BS an excuse he years allowance for depre.

Mill very meagre BUM and. even so wiblt only' 6 per cent. di ndend IDDer rent. for the preceding year. lhfccopetition reduced.

with the lack dptif ieopxnodaticsi remedied. and with I M1 11 With conditions the shareholders i Iwn tpting much better results this far Bat th statement now issued is rather fronting xeppt to those who been PT for unsvourable developments by the Jwy al in the shares. The directors that the verage earnings per licensed for the eight months of the finan. mgnat October have been prac. me a.

those for" the corresponding preening year and they see no to that the earnings for. the win f1l1elow that level. omi ence that the receipts yearv no better than in the nal stres. On the other hard running ts have been effected. to the extent of the aftntbe conclusion of the Peratin the ased onsiderably.

outlook is as the buScofflP to the rating 1" consulting engineer. estimated costs at and profits at 7. on the heals HI output of 40000 tons per month. The full capacity of the yi fing plant is 80000 tons pet month. The issue of 100000 shares at Sos.

made last July proved insufficient to cover requirements owing to delays and other matters rand on December 31 there was a cash deficiency of leaving' out of' account investments costing 15400. If as expected the present deficiency of 6000 is met. out of revenue by September next the' question of dividends should in the early part of next year. A profit of 7. per ton.

with the plant in full operation would represent a working surplus of 210000 per i The issued is 800000 So. fat- as tested the ore body at the fourth level appears to have widened out very considerably as compared' with the third level. although. still not equal to the dimensions shown at the second level. Owing to the erratic nature.

of the deposit much more. work will have to. be done before it will be safe to draw conclusions on this point. The ore reserves which have increased to a moderate extent in both quantity and value will suffice to keep the nEll running four years at the rate of 600000 tons per annum. Petrol Prices sad the Motor Industry.

The reduction of a penny a gallon in the. prices of the best and secondary grades of motor spirit may to some extent be due to the combinations of owners for' obtaining their own spirit. But another important in fluence has been the in petrol supplies. These prices. are practically.

regulated by the great controlling groups and their first effect must be to stimulate the private motor industry. On a prima lade view one might perhaps suppose that oil companies' revenues would ho ad vetsely aflected hv too reduction but it seems more reasonable to conclude that the lower price' will lend to a larger demand and that what is lost by the peony per gallon taker oft win tx much snore than made up by the expansion trade. The development of the motor industry has been greatly hampered by the. high prices of spirit. and any step in the downward direction will tend to' encourage motoring.

Motor companie3' shares were more firm ajain yest day. Spirit isto the motoring industry what food supply is to a population tho cheoper i is the greater is the demand arid the better i is for' the organizations of supply. The costs of production. refining and transport must always fix a natural limit to prices but above that limit the question of reduction is essentially one of economic adjustment. Oil distributors are quite olive to the value of a greatly increases use of motor spirit aid to the essential factor of regulating price with a view to stimulating it.

BRAZILIAN TRACTION DENIAL. NO FRESH FUNDS REQUIRED. An official statement by the Sao' Paulo Tram. way. Light.

and Power Company I the Sao Paulo Electric declares that there is no foundation whatever for the statement emanating from Brussels that the Brazilian Traction. Light. and Power Company will need new funds for the extension of the dydro- lectric plant at Sao Paulo I that it is proposed to borrow 6000OOOf. from its bankers for this purpose. It is explained in the announcement that the Sao Paulo Electric Company has lately' completed the development of sufficient hydroelectric power to tike care of its light and power' business as well as to supply the requirements of the Sao Paulo Tramways Light and Power Company for some years to come and neither company has any further.

development in view AMERICAN COPPER STATISTICS. LARGEINCREASE IN STOCKS. Taoi OCR rTNAWCULL RESPONDENT. NEW YORK. Jvzx 8.

According to the American Copper Producers' Association the production of copper during June amounted to 14I346ooolb against U2308ooolb. during May. a decrease of 982ooolb. TTie deliveries for domestic consumption were 46227000lb. against 592OOOlb.

in May. a decrease of 9365000lb. They are the smallest since last December when they amounted to only 2l939000lb. The deliveries for export reached 73350000lb. an increase on those of May of 640000lb.

but. with that exception. they re the smallest since last November when they amounted to 70068OOOIb. The stock kiss increased during June by Sl7680001b. and now.

amounts to 1061 llOOOIb which is the heaviest since February last year when it stood at 122302ooolb. SETTLEMENTS AND QUOTATIONS. Applications have been made to the Stock Exchange Committee 1 to appoint a Special Settling Day in and to grant a quotation to PIM or rt WIT and partly eat. paid. foe 2310350 Fl per Veal.

of 1J14 Qvu- or far Mid. for a of tlOOOooo oat. piJd. tat 4400400 Tesr pa 2 to appoint a Special Settling Day in Oourans ttjno of 1 Mr Si ZcSZm of it di. 20221 to SS I1 IM eJ Old.

iMO iIfI5S2l. 520202 HJ 0 and abaniof and 3 to' allow the following Securities to be quoted in the Official List ZLBCT IO CWrurr. Tattia 01 100 00 OMIieer atarai or I pali Bnu A AiT1I STIAX TM TK Conrtjr-- tMttJXn per Cat Hi Netwi Dotes- Ol aodC I 0 UIO or to folly- PACIFIC 100 In ftecmd rulmum at 1 TMCltliu taie ZTlUeS iii Iotfcto rjiU uooooo Four and pet Cent. Lie 1113 lUnidabnM Rrrn i mm AM A. tNoi I Id I 4J 0 ww PMW ApfttatM CWMJ OOOO Mr Cent.

Go" Iknb114 law la Hen of Ihifurtf. tnrMtttr IMAM Ttr pa Ooid boodi. If mmei aito BONDS DRAWN FOR REDEMPTION. The Nzvaver. OOJCPAXT pnblishes the numbers of Half Oat.

sod FOOT per Cent. Debentures which have been drawn. for payment on September I at Mu. Hearts Bank 7 Fleet BC The number of 25 bonds of the CRT or Ssiiroe tnaam4 Six ran czwr Lou or 123 which have been drawn for payment on August 1 Me. also nnoueed TO-DAY IN THE CITY.

Bank rate decision. Stock Exchange Settlement I Ticket day. Traders for 2000040 Treasury Mils to hi lodged. cu on new issue i Province of Quebec Four-and-a- Half per Cent. toek call of 25 per 5250.000.

Company MtIngw London i BbiJonl Gold I. Lendon rsIl-btdUings. it British Unedursa Produce. SaUabarrBoiHe LSo. Canadian e.

Lumber hldrs. UIsL1 Syndicate. 79 Btebopsgate. East Java Rubber. 11 LeadenhaO tfeet It EdmvMso Electricity Salisbury.

Ben IS. Investment Corp. of Canada Winchester flu. it x-d. and Brit.

North America. PtUMrs Rail. IQ. Olympia PorttaAd Cement toeheater BOOS uo. klW TtsU I07Tr hiJWlt It.

Ry Dorm Uouie Cub Imperial BOStaSeSM. U. of a sfc. BO It STOCK. EXCHANGE GENERAL.

OVER TRUNK STOCKS DEPRESSED. Yesterday members were occupied with the general over arrangements which tended to. restrict fresh business in most department As was genersllyanticlpstd fortnightly Joans to the Stock Exchange. were' obtainable at per. cent.

less than a fortnight ago oomeryi per cent. the money brokers being supplied at 2 per cent. and as loan. were in plentiful supply continuation rates showed a tendency to ease off towards the close. Generally speaking business was on a scale and consequently the tone was buoyant thin was the ease earlier in' the week.

Con again suffered from realizations following their recent rapid rise the stiffening of discount raw was not without effect on gilt- edged securities there was a disposition to interpret. the political situation II rather less promising. The Paris flours. also esemed to hive been rendered rather. uneasy.

by un favourable reports regarding the. Balkan situation. Grand Trunk Railway stocks were. depressed by sales said to emanate from the provinces. FUBTHZB FALL IN CONSOLS.

In the market for Home Government Seeri. ties CoNsoza were bought at the outset business being marked up to 7515 for cash in the later dealings taking wee predominated end the price finally closed. 3jg lower on balance at 75111 the account' price also foil to 7511 India Half per Cents. closed without change at 89 after being freely dealt in between-90 and 891. Water Board advanced 1 and half a dozen Home Corporation stocks ed 1 higher.

Among scrips of. recent issues Montreal. Ceylon. Trinidad arid Queensland were steadily bought Port of London relapsed after the recent sharp advance. South Indian Railway scrip remained' steady the allotment letters issued yesterday indicated that while the smaller applicants received in' full the larger applicants had to be content.

with about 70 per cent of what they asked for. METROPOLITAN DIVIDEND Ruxous. The HOME RAILWAY Market was again' one of the firmest in the Rouse but business was less active than on the previous day although there was still a steady investment demand for the Preferred stocks. principally Midland' and London and Western and for the pre-Ordinary stocks. Metropolitan Ordinary stock again advanced sharply.

the price closing higher at 42 after being 42 buyers. The buying of this. stock was based. it. was said on the prospects of an increased dividend being paid.

Metropolitan Deferred rose 2 Underground Income bonds I and the A shares Great North. of Scotland Deferred was in some request but Caledonian and North British Deferred were offered. North Eastern and Hull and Darnsley were both higher. The traffic returns were a reflection of the Board of Trad. returns published yesterday.

bat considering the large increases with which comparison was made the figures were considered satisfactory the Great Western take being especially good. All the. movements shown on the. account were in fsvour of holders London and North. Western.

Brighton Deferred. and Metropolitan being 21 higher. The account was arranged on the basis of 4 per cent. whereas a fortnight ago the more speculative stocks were carried over at 41 per. cent.

On Underground Income bonds the rate was 4 per cent. Moneylenders have again to deliver stocks this account. Snsrnio or GBAND TRUNKS. CANADIAN PACTTIC RAILWAY shares opened I above parity at 199. and after changing hands at 1991 arid 198 the price closed in the House at 199 in the street dealings the quotation weakened to 198 Reports were current in Montreal on the previous day that the company had acquired' the small Lake' Erie.

and Northern line. Grand. Trunk stocks were depressed by sales from the provinces the Ordinary and Third Preference fen and the Second Preference I The Axxnci market at the opening reflected the appreciably firmer tone ruling at the close on the previous day in Wall-street where a sharp recovery in the closing hour was attn. buted to bear covering induced by reports that a fsvourabe decision the Eastern freight raw would be rendered today Wall-street was also favourably influenced by the. news that the new French loon had been so largely subscribed.

Initial quotations were- well above parity level and the tone of the market remained quietly steady awaiting advices from the other. side. Rates of' continuation were I per cent. less than last tune at 31 per cent. In the afternoon Wall-street was firm.

buying orders coming to hand for Southern Pacific Erie Common. and other leading descriptions. After the House closed the tone of the market became a little earner as no Eastern rate decision had been' given. our Pacific shares came flat at 131. following the previous days decline in New York.

Denver Common and Preferred were If to 1 weaker otherwise final movements were all in favour of holders. DEMAND ron BELGIAN SCBIP. The firmness of. the Belgian Scrip was a feature in the FOREIGN market the price rising Brazilian bonds were weaker on unoon. firmed rumours of a postponement of the new loan the Rescission and 1913 bonds were lower.

while falls of 1 occurred in' 910. 1911. and Lloyd Brs Fours. In the FOREIGN RAILWAY Market Buenos Aires and Pacific Ordinary remained under- the shadow of the new issue the price dosing I lower at 64 with business done at 84. The prospectus offering the new Debenture stock is referred to in another column.

On the whole the. Argentine traffic returns were considered poor for the year ended June 30 the gross decrease shown by the' Buenos Aires Great Southern Company. amounted. to 1097131. There waif a slight revival of interest in National of Mexico Preferred stocks and Mexican' Ordinary anil First Preference also" met with support.

Brazil Common was flat. Mexican railway stocks made up 1 to higher allowing for the fact that the now account is a day one rates of continuation were shade easier. CAUCASIAN SHARES AQADI" BOUGHT. The chief feature in the On. sharemarket was the renewed buying of Caucasian shares.

North rising to 43. New if vto 10. while West Caucasian were a firm market also at par. Royal Dutch again met. with support the price rising.

and Spies hardened to ISa- The rest of the market was. quiet with business on a smaller scale than osvthe ovious day. Rates of continuation ruled at 41 per cent. or the same as at the last Settlement with tighter rates on Shell and Mexican Eagle which were done at 4 percent and 34 pr cent respectively. In.

RUBBER shares Malacca was offered on the publication of the sp. tb prk sMiwaf While the general rate this depart me WM 6-1 per cent. win carried at 3p crotVall mbrosa at and Malacca at 1 per cent vThe. marfcet in jTju. producing ocsnpssles' shares was a arm one as stock was scarce urIne.

rsndiI-resoonded o- fair amount of baying. Assam ChubwaDooars Doom Jokai. TOhe4lt and Lebong were notably in demand. TONE T. MARKET.

DISCOUNTS HARD. Money was in IF roquejtyes srday and rates remained steady to firm as the supply was only just about adequate forthe markets require ments. The small amount doe to the Bank of England was repaid. Discount rates were a shade harder more especially for the shorter dated. maturities II the joint stock beaks were sun refraining from buying.

A moderate amount Of bet gold was sent to to central mammon. and there was no foreign inquiry for tie metal in the open market. Fortnightly loans to the Stock Exchange were arranged 3 per cent. rncney token being supplied at 2 per' cent. these rates being tower than a fortnight fnoe T-6-day tenders for 2 00000 Treasury bills have to be lodged at the Bank Except.

for a rise of pf. in the Berlin sight rate. Continental exchange moved against this country the Paris chjue relapsing The Dank rate stands at 3 per cent. as from January 29) A vear ago it was 4 per cent. Bankers' depcsit rates stand at 1 per cent.

and thp deposit rates of the discount houses at 1 per rent. at call nod 1 per cent. at notice. LbantperOn Discount flank Bills per Cent. IfflFor Oxirt day.

periods- II I SA days. month' month. PI Trud" RiIM fp months month I 4 mouthi. I month tt I I 31 The Bank bought in bat' GOLD making a net influx of 286000 for the week ended last night. In the open market there was no foreign inquiry for bar gold.

FOREIGN EXCHANGES. Mrs. WrJ. Jnire Puts I tUokimte IMktdl DA Do. Banknte noJKktJiaxim Vienna rltat ltalri lt4 torn.

4Tpt 14kr 1S17K. uVtsifllie. tat 1 1 UP. 22 tit 18 ton 8i-4e piCm4 i ui4pf im. 4 at.

3r. 20 56. It Up. it fl. De swifc IChrfatknla Ikeatar.

TT. Yokokaaia. TT AletsedrOa Kbds kOdT WY. 7 952. SifS 155 tail-Mil ittr 2325 Mr.

to 5r 2543 Iln. JSt. 7 Ukr 1 nL SlO 20. MA TUi l. 144.

IL ad 1. lOhid. Aim. Mdn. Mhtd.

20. Olid. 7 4. Mhld. I4kr 123.

111112. tilr t4 lo. tu Uifieiri. Up. 20-20 4 4d.

lea. Ukr lakr IL U. 10 rL lid 20. 20. tiat ut.

its telceaibed UM 7 roesdies IMr naU The price of bar SrLVER relapsed lcd. to 25d. and 251111. per ounce for cash and forward delivery respectively. The market closed steady with small buyers at the lower level In Bombay quotations were higher at Rs6Qli for cash and first settlement and Rs66 for second settlement.

Rupee paper was unchanged in Bombay and lUI higher in Calcutta at Ra95J518 in both centres. INDIA COUNCIL DRAFTS. RethftCsUCes for 20 lakhs wen offered. and the applications amounted to Rs20660000 at Is. 315 d.

to Is. 41. Rs. 15450000 for bills end. Rs5100000 for telegraphic transfers.

Only Rs. 1760000 were allotted In bills Ra400000 on Calcutta at Is. M. Ra3350O 0 on Bombay at Is. JK 415000 on Madras at Is.

1 8d. In telegraphic transfers Rae00000 Op Madras at Is. Id. Tenders for bills at Is. JJijjd.

will receive in fun and for telegraphic transfers at Is. 54. will receive In full. Next week 20 lakhs will again be offered. From April 1 to last night remittances for lIs41973332 were sold for tS OJ8S4.

TRAFFIC RECEIPTS. HOME RAILWAYS. The following are the increases or decreases for last week for the corresponding period of last year and for tile current year. Last wet Barry 1631 Bneooaad ittrUtjt 47 rtkdonlaa 200 yarae 282 Cress Cratnl I 5500 Gnat WstD MOO Oral Wflitera 4000 Us 01 Wlfbt 24 Do. 020421 9O tooden Western 3.000 lan ft 1.900 Mtdluid 7000 ITIdlud OWOrdsad 2.203 XMlsad We 179 leestS and Brand 279 xes British scm Xofth-Esstn 8.000 Thth LoDdae 413 narta fu ort 780 PeatTalbot 166 Rbosd4aad Snsass 193 1 82 942 A Year ago.

Current year. 23816 14.190 89 46 4700 20900 1002 14866 2300 9400 4100 76400 6600 1400 110000 168 990 84000 Tiff VSIe 125 87 13000 7900 18400 701 185 216 600 19281 415 510 207 155 2778 3058 71000 7 01 1791 3.122 20100 14.369 15890 2.182 2770 Amounts and Inrrrenre or deerieaea shown In the traffic returns of the following companies for the past week unless otherwise stated i- I2TDIA5 COLONIAL AXD YOWGY ZAILWATS. ABDBst. IK. or Dee.

IBS. or Dee. AnsnHas' Mrertly psnted 543950 9990 Ito. otter Hues I 29521 3X310 Astotapita 32050 23.960 46684 AnlenT T. 1470 2610 1540 c3T 42059 5618 Bd Hssboa- DU T11 LA.

sad fie. kgWei5. Out. Annttat Out. Ito NUm.

Sits. Do. we. Kxa. Obrdote Oral.

ftbaa teat. 264000 tl OO 284000 1123100 110 52 scoe 1249 OtWssUrfBrsjfl ItofSam. 13000 2500 Stt 19 211.200 21449 4347 L.164 4278 17990 1858 12000 12648 1421 69 255359 1 BlxxM Shy V. Hs I. sad 24679 84450 219010 13 76 1156 1835 1731 flMO 2987 Jw BMnilaa 213119 11139 Ja2042000 00 224720 rll.695 24006 12101 Ka1 98 911 211500 500 14793 1884 1240 UN 1392 2519 8479 1241 Tsar easM 1 JO.

TRKWATI c. 1497 2106 223fl 110:454 a 2574011 tia 2i 2503 1581 137 1247 SB19 11 56 124 21154 ID. St 530988 11187 tS 1784 I1M47 1105.595 CUT FBK tm pas 1 orlfU mJU a Co. pro- vIsal eHn cerUfloate wiU for eBnrr cm tas at thsif office Old strej exchaBg for allotinen letters UNITED I FEDERAL RESERVE BOARD. MR.

WJTJJG AND TIE SENATE COMMITTEE. yzoii NEW YORK. Jvvr 8. Before he received the Presidents message- him to reconsider' his request that his nomination as a member of the Federal Reserve Board be withdrawn. Mr.

Warburg had telegraphed to Senator Hitchcock acting nhaintun of the Corimittee on Banking and Currency in reply' to the invitation to appear before the latter. His message was I cannot comply with this' request because I feel that the action of the Committee lest Thursday in withholding action regarding my name while favourably. reporting the names of three of the nominees)60. Charles Rarnin Boston Mr. W.

P. O. Harding Birmingham. Alabama and Mr. A.

C. Miller San Francisco created a situation which might impair my usefulness as a member of the federal Reserve Board. I wrote the President on Friday respectfully requesting the withdrawal of any nomination. Furthermore while I should have hem glad to appear before your Committee. if it had deemed a conference with all of the nominees necessary to guide its action.

I feel that I should not do SQ sftet one other nominee end myself had been singled out for examination. PRESIDENTS STATEMENT. WASHINGTON. JVLY 8. President Wilson has made a statement in support of his nomin ticns for membership of the Federal Reserves Board of Mr.

Warburg and Mr. Jones. whose nominations have not been confirmed. by the Senate Banking Corn. mitts.

Th President declares that it would be unfair to regard the Democratic Party as en enemy either of big or little business enterprise. The Senate Bonking Committee will tomorrow consider II formal motion to withdraw its invitation to Mr. Warburg to appear before the Committee to be questioned. Mr. Hitchcock 9 member pf the committee denies that there has been any discrimination against Mr.

WsrburJ on the part of the Rever BULGARIAN' TREASURY BONDS. NEGOTIATIONS CONCLUDED. Y3o OUB FINANCIAL COXBESPOMDZKT. BERLIN. JULT 8.

The negotiations with regard to the Bulgarian Treasury bonds. were brought to a final conclusion to-day. The GesellschAft. at the head of a group which includes the Dresdner and Darmstadter Bank and a group of Austrian banks takes over Treasury bonds to the amount of 20000000f. 4800000 redeemable alter one year.

Ins as 30000000 of these bonds were issued by the Austrian group on a former occasion and are now only being prolonged and 27000000 are' for repayment to Russia Bulgaria gets only a small amount. FRENCH. LOAN AND THE PARIS BOURSE. Our Paris Correspondent states page 8) that it is believed in financial circles that the subscription of' the new loan' will be followed' by activity on the Bourse. NATIVE LABOUR ON THE RAND.

SLIGHT DECREASE LAST MONTH. The General Mining and Finance on yesterday received a telegram from. Johannesburg statin that the native labour figures for June show a net decrease pf 501. During the South African winter season a diminution in the number of natives coming forward is usually expected. The above result compares with art increase of 556 for the preceding month.

and with a decrease of 1043 for the corresponding period of last year. and indicates that at the end of last month there were 188835 natives employed on the and diamond mines. which are members of the Witwatersrsnd Native Labour Association and by contractors. Tho total number employed at the end of June. 1913.

was 211808. NEW CAPITAL' ISSUES. The prospectus has now been issoed by the Dt1Bf08 AY AJTD PACIFIC RSXLWAY OoKrAKT inviting applications for en Issue of 1000000 Five per Cent. 19It Debenture rtock at 171. The whole or any part of the stock is redeemable at the option of the company at any time after June 30 1990 at 110 on' i months' notice.

Subscriptions are Invited by Joins and iTxoaiwe Limited for en lane of 60000 Half per' Cent. cumulative Preference of 1 la at par. The London and Western Bank i authorsrd to receive ppllcat The Bank of Montreal announce that letter of allot, for tile of Kl 7 Munlctpali of South Vancouver Fire per Cent. Consolidated stock have been posted. MARINE INSURANCE MARKET.

The effort of the Glasgow Salvage Association having not yet been crowned with success lid the boat. of the U. BalTagt Association being otherwise eng eed it is now th turn of UM Svitier Company Swedish to to attempt the salvage of Ui Cwoseu stranded off the coast of Tory Island. The Ex. left.

Dartmouth on Tuesday for UM seen of the wreck. lid the Vrxnio i a proceed from Copenhagen immediately. The mart will follow this attempt on the part of the company with much yrnpath7 or It is folly that. the teak 1 sew very mock pester then It would have wen approached by powerful arrage steamer ago. On the news of the arrsagement yesterday Underwriters took heart and lowered the rat from to 7071 Pet- ct At Lloyds yesterday tile United States F.

I' LUcmIAcN. of tens was otlldaD regarded as missing She left Porte Tampa toe. Baltimore on MaJ' 1 with a crew of IS hand. and a of sad was art seen on May. 17 oft JacksonvllIn' She was valued at 812660.

REINSURANCE RATES Ah COMPANY CAPITAL AND COUNTIES BANK THE SHAMVA REPORT. Corfu. ATO Covivnis BAXBV Dtrldrad for the part six nootta at the rate 01 1 8 pa sent. pet I the om m000 ha. been applied to tecMen or premiers skcaiBt and 410000 to the officers sspe nnualon fond.

leering 1014 1 to be Carrie i ward. as agaiasb mill lest year. A yea ago thsdivideiidwa at UM sain rate. TUCK- jjto SOHS lbW' drrldead at. pr rent.

er annum for the six onts ended April JO naiW cent. for the r. same as for the four preceding ry I 5215 Is euried forward PEXL Rrra Lusj AJID HTJTZJUZ. Oovnurr Tfc directors recommend an interim dividend a tree. of per payable CO tba list instr A 7ar lip the drrideud was the same.

AsnAim OOUITJVM ComroJUTnnij DWifod No. of per cent ft pet barer parable less ax at Is. Id. In UK pound on August I. 7 arat Use dtridee4 WM the um rate.

Zt1IItT ESTATES. ne1 41 brought forward. tie net' profit amount to 64023. In stew the present financial posttton and of Use neeeMty to pro vide for tile redemption of the loss. th directors regret they- are unable to recommend a mod propose that 417 be written oft for SOO placed to room sad 11107 eanied.

forward. Last year the profit amounted to 4475 sod a dividend of 2 per cent. WM paid. The nheet of AwtXAJTOBBS at Juno Uct show. tw TT fund.

100000 I bills re ltlS0 deposit. and twlance includnr pt')6' nd eouttt 110452772 Cash at benbrs. 301717 dated Imperil and Indian renuatmt 340,71 short-dated Colonial Government ties 3 Mi other Indian sad 00. Government securities 1 S9I other securities 411600 bills discounted. 7271117 knos on security DC rondry account 4244 til.

The report or the fijunc of Lrvuisoon tee the. past Shows that Including 1409 brought rd. the net proHU amounted to 271913. Tip directors recommend a Seal dividend of per share. making with Interim dividend per' orat.

for the year. place 25000 to reserve fund. and carry forward 3503 The report of the VAWCHESTri A DISTRICT DAXDIIO Ctacrun shown a gross profit for the year to June SO after provision for bad and doubtful debt of 311977. ain Ill 5442 a year ago. Wi 4045 brought forward the net sum available 235021.

The- directors recommend the usual dlTldend. free from tax at he rate I per mat. per um I 10000 Is added to the reserve fund and 10000 to the peiilnu fund 52131 is earned forward to the next half. jear. The report of JmlOAlne ASO JOHAI TS for the' year ended March 31 2114 that the sales otApoQioarn water amounted to 32460000 bottles.

as compared with 375 tOOO In the preceding year. AU tcrtI meat expeoses have been written oil. and the usual anntW depredation ha bet vovided for. The net profits amounted to 10433 making with the wm brought in 217141. The recommend the payment of a balance dividend of 4 per oral.

on the Ordinary thane making a total dU4biitl0a of 7 pet' for the veart they further recommend that 20000 be placed to the reserve fund which will then amount to 210000. end that 221541 be seined forward. The Owens European Bow. Machine. Company of Toledo.

Ohio has made a further return at capital upon the abases held by the ApoUinaifa Com amounting to 614253. The capital iespere II now amounts to 77341. The net profl of the OIUIIOOJr Mowrntoa CoxvvT after prowidiag for contingencies amount to 35302. after adding the baUaee brought forward. 41574.

TIM directors have' carried 5000 to 44040 to I Interest I. and recommend a final dlvi- dead per nuking. 10 per cent for the year. and a bonus of per rent. less to tearing 43501 to be carried forward.

Last year the dim- trlbutlon was the sane. The report of tile RHODESIA COFFER AM OXXTOAD A POIAVCB CoxposT for the year ended May 31 states that the income derived from Investments during the period under review amounted to 734. Land segregating 75000 aries Mi been old at a snlMtantialpront of which only has At May 31 about 441600 acres. Pioepecting has been carried out with the object of following up the duooTeries referred to in the last report. but without say important results.

The profit and loss account for the year mhows a credit balance of 9038 end the directors recommend the payment of a dividend of 3 per cent. free of tax for the year. The previous dividend was 5 per cent. for 191011. The report of tile PETS RUBBER awn OOCOTBT PtuTAn01 for the year ended March 31.

Jilt tales that the crops harvested were Rubber lUUm apllIIIf IIi031b. for 1912-13 coconut 28018 nuts against 22980 nuts for 191213. The manairers ftOtiIrlate of rubher for lilt-II fa 17OOOOIb. A reduction of 78d. PI' lb.

has been effected on the ob rest of the year 1912-13 of la. 40 per lb. The estimated crop of coconuts for lilt-a is 30000 nuts. The net rod amounted to 2859 alter writing or. 1100 for depreciation and 350 for underwriting conunialion.

It is proposed to pay a dividend if 2 cent. Ira tax ring to be earned forward The report of the SnAxvA MIKES for ISIS te that development' work was curtailed pending the eonxtrurtion of machinery nd plant but l45ft. of sinking cutting to. was acromplnhed. March list connextoil made between the male edit on the fourth level And th wlDEe mnk from ton third level.

and tlt-rr driving writ along the line of reef a out wee put in. which has so far exposed the reef lift wide with an avrrae value of 4 In order to th- mitt at depth. the inking of winze from the third level to the fifth level is now in During the year 142484 tons. of an averts value of 5 were added to the estimated ore marries which at December 31 lest rtood at 2403715 tonsof ver vaJneof Oldwt. The ore broken and ready for the mill WM 2351111 tons valued at 4 Owing to th i ys referred to in the lass annual report and to the no initial expenditure on stores as well on the quarrying 1 an sdditIooeJ tonnage.

and to th necessity of financing the rain. dories its trial working. the funds in hand have not entirely sufficed to bring the mine to the productive Temporary arnmprmente nave been' made with tile comtAny' bankers which shoald enable Use present ea deficiency of about 634000 to be met out if revenue by September next without trenching upon the share LIYIItSTtnte and the cooipanj ihouid then be free of all liahtlittre eicer in rnpectof the contingent liAbility towards the Blmkwttrr Railway Company. The company ham in this" eonDslon guaranteed 7600 per annum toy JO yeses tit. yerly Instalment of 3T 0 reid to the tall- way company in October A II" cad.

is sceofdance with term' of the aerosmeflf. practically the whole of this amount refunded bv the railway company at the end of their financial year. The full plant has been in operation from th beginning pi Jby. An important feature Is rounexion therewith is the proof mc inn afforded that the engineers estimate of I working coats has not only been confirmed but that judging by April end May resells it appear potble three co my even be diminished. The May coats were 7 ed.

per too. LATEST VTELLlGCCE TOOK UoOYD. oVLa31ITI or tr xs MH KMeda Aaaktrt. AffL lucl Kk lm 1 p3Tn a. tir rjwTp j.

MlUvHftlitairttMwIalhtllaiiibsn. I Loodoe. GSltie to leaSe. IS Btesast York lames Ji asl Hew Teat Mk aoos 4it fi 1 tj CO 9 9 21' 15. 101" ii 3 IU 11 11 rroB 11.

r. r. 11 it 21 51' IT Li QroT4TOn 11 PiRcvL 3 EI II LJ ii1l4. GI III fO nUCUL lARIX II 3 ARLN1Nl fr rl -auuGUCt: n-- 11 c. 11 RA 11 50 TLo" Du' 11 11 slft I COMP ANTS pany.

1rithT II nt Its OWfl hands. whereas he other omni nies IIV impOrlanre ht Lolldon eOI1pritil ut Iftf IWI1 BS llithspic al BS. msrl. dilsppoint nt 9- dofs tncour8g ment. in r1inw indl p-nden itude he dirretowho omt ibua thtirown Xeatlya ag com oItbtC Ig tio 1 IJent 88 DgmIIltsndthe officiaDydescribed 8 be in Thedirect eYl6lslIowance de 10.

1IDo. dividend. pay tICIIlOoer YO' Wuh PIition ation fa 1Fathfor lid snt pIting betterrt8Ults But rs er diooppoiming have formfavOIIrBble fat in he vp anibasbthe eightm ths tlir ending IIX 1QlIv the same oorre of the yesrsnd anticipalA. that four mon Jt eL Thus i. vidence onnibes this re.

bettnthan of flClptional in asts hsvebeen 110 iat these al be I1Iltil afte. the bnciaIytW. It must be borne in that in view of the n1llnbrr of omnibUe8 in bav in ersbly. I there has irobably been80me in pital and in all the the jyjd jlllPnt rather l1Il rta especislly of the Orpnibuq cornponie are stillunder theoonsiderstion of Go fIIlInll1tThedireenI Statement a nction in wh the lpsny Y6nd a profi a outlet Ir its energies. Ll.

the London nraI it ha. manufactured II nib and now that it is no longer up a fllftit finds its Work. rgely ed. It has. thrforeliIe General to manuf8ture lDI1lerciaJ motor.

It Peciahty isa. cokefired 11 inotor. and. with the. rn nukture olthe yl pafn whf and tnai lor tM OtnnibUJIInd the ditrs That 100 orks find fun and lile nl.

i on ion' rising ht tbe Y8 PtItjQn that is Wtrth pt blic nfo of this company 10 that tl. bilPPfits of London rQlIlbiDILtion are dlll' no 80 much to 11t1 monopoly orte the free that it oflhA puhlic 6 to' the Perior 114lOn of work tit 1ttZ6 ndrt kin rmitsThe omln II lonlr Ruliject to cut. mfttlllonalid it njojS ju. aia free. tJ1e Rd th London cn tM 11 of lIRtat tapmt UldicatE QJ inlb profits.

p- rO' of. theShamv. Mine. rninlr of I Mines I tie apltahsaiolnllingin tho' booulof fourPBrS go. sppeBl1j ttw nt ju.

JItItINi leads l4r1 UI. tIt fir sum. the 1t1 uJd to pay dividends llltitt. fear y1J upon the preient tnod InJ Valuation. Cruah.

110 lour altl. lid of January last and II ran' far publi hed has- fhown oti 11 from a on the initial W1- kI tbi nt. oftM 1d absorbed fie rQfit m200 in April. 1On to only7 per to 7. only IMOO was earned III fOItado1tn to 7L 1 per ton.

CO1re IQalrecan Mr. Piper eon of IIDO pvt existing requirNn l1i delaysaDd othermatta i aDd on fic ency illve mente U. Aprolit wow. a' rk UIOOOOper annum. thefourthleve1appeantohave coJ18 derabyM no D8 I ontb theJnilIrum 6 MotorIDdDl oD to.

i I in. theincreato pe cqn OUing stimul te ind atry il to- atIootedby roduction ore re Jo ooger be Ulanmade of veopm nt mototindUlltry 11I bEo hi JlI" CM motOrin ds- is the ch lper ater it refinin imi qu ion ql aue increased prices D. Ws Li electric sn is pletedthedevelopment of buain develop men view GE- XCREA5 Thei domestic 6227000b. sman mt- since The neby 1061l10001b. is.

i Appl catiorill I in to- Salp. I Flu 1 U. Ttp t. putIF 510 per LI or per 0mL IPW in- paid. Ito.

6 10 5324 5125 10 20254. G. 0110 IOO.ooo. 0IdIDu7 of 21 II. tllylII II.

100101 110O000. oIrI1oIO al 1. Uy or U44eD tll1L 11 Co IP. of 10000 Tie per 01 tuIIFpa14. Nos.

atOlO 60 I a60 or 1834 Iba of I tullJopalll 1100710 100000 List- mesw A ax 1 AYIQA ms i 8 AoosTIz liAILuPatb per at. EkawAT or CoIIPA1IT 115000 Oaotloboew of 1100 2 to 1 Use 0111Io tuflyPJoid Nil. 1000201 101. lOnHIper ieL OoaIuwmtPn 11 reid. S.

1881117 I uy. IlinA 02 UU IbaN of 11 JO OIDL IMi aIr OIIIIL Lien. illS. I. II i or be RsIf III A I.

TI. 1 OoxP I dra 1. Thenumbesi dra Dbou TODAYni TIqCITY 8 1t da Que stock. IlGt I Ootd5Xliits. LoItdu DoDd Prod SaUbuz7 lions.

Pse. W1al Blabopa so iu IS Wlaa 107 1nI8b W1UJ ZClL f. i il Ye wi tI. hbu inmoi M. generally' Nlticipated 1y1o 7 21 werei11plentUul eJ cl buainWM ently rapidri8e C1U rJea 1' byun llran wer emsnatefrorr i SeeIJri.

ugh 7515111 7 Ut ou st891 beingfretoly 00. i cated rOOut70 percent. METROJOLlTUDIVIDEND Hot ess ac ive dsyalthough there' ti stedyinV dem nd Me 421 421 I protI e' 1. NorthEastern re ection gthe in CtDtwheresa per-cent. Bgainto ofGRANDTRnas RAILwAYahares 1981 in ened 1981.

byaaee II. Wall c1 reportathat in WaIl went1I 1 percent etm cl BB er. 3 in. rk. to11 pncerising It faDaofJ the lst iIeiroFoura ManetBuenos heahado pri a ano hercolumn.

ional Mexi an1 metwith 11 Ol1 a BotTG IT. share buyjnaof to afIrm 1nKnJ1 1. to WMq1lW mallercale previous RaMoftin CII1iu1ed' 6tL cent. or. Be 8beIIfud 41 pet sha' ee2itrespectively.

re4po the i in LoL epIriicl oft pr faUambraIa. aad 1 Jnt I 1 INiil DoomD i MONEr TS. RD. we rest i eto tlatt a more' mbuyiDg thocmtreJ wDO foO emolintheop took1 S. moD lIII ed 2t 10 fortnId1Ufn day 2000000 I ipfin I inentl ai1gN ic 118 i ft Bank8lllde It poei di 11 11 no 1 per Dl unt D1tTt1Fo 6- I I I I ho It.

2 21 poop lDp I Ci I I ms or hi July 7 S. 14' UIoe II :1. boG. 1D1 0Iit5r. 1111 M.

IIPI I. II I DO. da Z. 7p1. tpC.

4 I 1I lu I. Ik1517 I I 117. II J01e. I 11 1 111t. JI1 J.

1. 1. Ut I Ihl 1. 1" 111 I ISI. rIIU U.

:1 I Ho 4. I Wo n1 171 l. 10 I Do. 1. 1.

H. C. a rr li. a1. I 1 1 111f 11.

tt 18. ur 1. UI li. Jy. IL.

1- I la fo T. I at. I ld. T. I III I.

lo I II Yo I 0' I 01 I 01 1714 11. 171. Uclld 11 II I 1. A. 00 4I1 70.

71 I 1 61" 1 1 2l 18II. 7. a Irb pi I prC Snw rlap IJs 8d U161 ouce ad for deliver Piv mark" cl sy. th lvl Bmbay ions SI R6011 ch eetlent. 661 sd a en Ru paP uchged Bbay Calct a 95J bot CotC DI Ret J' ad aot.

Rs20. OO Is 351s Is 4. R155O bil ad. Rs lOOOO teepc te Oy Rl50OOO att- bl 0000 Ct a BO. R335 Bmt 615000 Ma 3i8.

I tiphc te 0 00 Ma 1. t. Teer bW 3 a. 1 riT i fn ad fo tphc te A l. 4 1 riT i fu Nr wk lt ab o8 Fm Apl lt nlh' rmto fo 61733 a fo a028' TC RECI.

HOM RWAYS. foD the Ic. fo 11 w. crnd 7e. Ad fr te ct Jo I 1t yC 11i31 I116 UI9 VJ 8 4 Ca 2 470 2.9 22 Ic 148 Oall 7 23.

9A Gf 35 4JO 76.4 I 510 66 J. 0 1. 40 13 I Wlt 2 J6 I. 9 9 tc. 11 3.

10 0 1. 19 79 5 Xi 7. Ie 70 I XI Ow 13 701' 71 We J8 .71 B. 3J2 Ja I 5 6. 210 Xo- 198J 47.

1m. 41 la Ito 7 15. PM 2. 21 I 15 2102 I U. 178 1.1 Te Va 9 1 27 tP b' rct lrJI' a lo cp fo th' a I CL 4 fUa uYAn JD 1.

k4) U95 19 l. 11 10 bt 2. 196 i6 AL 17 J. t. 1:618.

a 715 194 Nt. Jla JU 1. 1 113. 14 r' B1t. 1.

11210' I 59 10 aA D. 1. 7 119 1 1 KL. 18 1.16 125 1. K.

1149 0 6 1.9 tJ5 11 J.1 1 OWa 1 11 n. 1 e. U7 17 n6 1511 1 1 11 1 1319 I r. 1 0 1. 1 1 101 IluI LJ595 I99 lies I IJ37 J1 3 1a I I 11 1 1473 1 1.6 1 13 I.

0. 111 IS. 1. 19 It7 U1 4 19. 10 1.

14 9 JY. J4 2 1741 J. 1061 5 1 157 tIl 1456 124 1IIft llSJm sol. II an Paar. Drc I 51 1 III Old" i' l.

rc tJNI cATtB. RESER SENA noxcros JmDl rec d. 1 ncoD8 deJ' reque tWhiII bewithdlawn I tel phcd' 19urrencr1in WB8- ccmpywith. ueat of I tiame Je non UamlinB08fon bama Frsnc lcO--ereated ht 1 I' Pre 8101 do. my elf exam 1 tien.

mppft nomiitticns II et1 II Ilf1n i bi morrow mo ion i ea ha on 111011I to- wl ch ParisCorresp beli pew LAB UR THE te stating of vM aboveresu1 increase Wi ear a I i 1f7 anJJ a 110. alx JO II ofU Soath. WeBten1 Is tAt. o. 222257 ated the' engaged the tile scene Is market for tun Is been If.

salvage acuOtttbe tm rate' 70. 2544 mhaIJt II ol1 ud. last bopliUeShe CMUALTYREPoRT3. 1UIIa1W 1 III wIUIo not a. wj I.

B- v. Jooi------ aa.or. I. III I' 00IIId04 fU IIK. 1 4.1111 oriIIWna I w1I Jnwirr BE BUlUNCERATES 1 0aIaI0a v.

vooar UM It lP8a 1oatoIr. I Atalla It i i i 001220. lt r. 11i i rih RF ULT CAPITALANDCOUNTIESBANK DMDE19 A ftuu ommaB i 16 cI OOOObem ID. dl IOUl ean1aII.

IU aco UM dtrideaII 8o LY for. 0 yew. 1Nft1 GI1IIa. The pet' Ule2Jt' GoLD CoaroKAtttIJfDiortdfQd 28) perJJa PAnb. t-aso at IS tat 02 bYI lUse proo red mJJtS a the.

7 1ftW 1500 ean4mdtorwsrd. ta blan beet 400. and GoftnUlt U071S I uri 368456 SSUI I unUod. IO 14182. repart yesr thAt f4 persbN di 1 pro for bt.

311. With is rs of Ii I. ed The JOIWi arc tAtt1Mt thew 0 ApoI1 37581000 Inlt e-- I be ha. 1 I all I or' 8 prori amOoflttO e' tU'- i ia of bolt ExisoriOw 411) Xar. ted 73 iting aut.

pooftt 860 been taken to the et edit of the proftt and loss aocoua the of being placed the credit of land sale. account- the taI area of land was 601 Pro an JCAIlbo paT a 3J. Rubber. ocoIIut. bl er 3 of ft cent.

240. Italft and In COfIJIxlon bel the oDlt pu a T. a he 11' I ut1ftP of bfor stood-at an value of L.Tbe. the the ty iu5I ed beeamade cash of wI ex respect Of he Blint ot' 0 i n' n. be the i a pro I j1IdciDC.

K.Y.-Jta. ThefaJ' nrr.ar- IIO I lln. eA hy 4 lit NI IOQ- Inr than saus AJIGII It J. 4aA :1. au -L.

256 IIO ITALI nu I. BOJ tu. AI' I' IZIVAU. I tp I Tr taK AaA ii mal :4 p- 4 I pJ Lfld0Th 767. oe Bue 1 Tue a 3erhn.

NW jU Th Tti 20. EEB re Tt. 3 2 o' 21 uJT11Il irE UiLiE 19 xcuC 1 gff LWGUCE ti 2 T1 1 ws AeTP S' III20JO' St6fl1 g2 th Ti1liS th insrnt in 1 the ranoe the LOn th 1 a runflfl 0t po olT th caSter- th- scTe directorswho f0T1O1It csshad be ause of tlithngwtion Fe enjoyedthe ear vj woin exco M' evin ib I- lO preccdi is ctjj th bewitle dpe rlarvf fi Site tb fwthe eightrnontha lrad ti a thSt j. eca1j5 ct Shave tlinh statement i hi bor lr gste bavC bt been some Cwe cha nuJtieaflces esnt Q1rp th ornjb laJwts5 still under cofnlnient. The dirore iIftIisa whjh company tiy fj 1 Cenj 1rnibiiwe.

thait kl4te itfinth ep1oyeL hs therefore the mn ni WrIs 1 a nw frIOtO nnu of the enraziys whed onjb 4ij protable P1Tmsrn. bone eon dereUon thco.mpaiy.5 public aittjnn. Tl Nto th bi prpfi tt c021 not 1'1n1ai Th ros4 astothe Superior 5iaatio0 and. eonom th. Widerkicg Permits.

The Subj lisklt lmratItnn 91 tJ the General. but olieial a5 hi 5 Opfr oftheSha st th. wlU 5 Jtledy flhlizg tj years ago appea bt5tfl01 JUSSt years in140 pa leattng a dsra uirkt U8h tb. vs puwjj sho lrin10 JO7n reeL of sold was ot Il2 eis amound onj 7 Wa treathntThetho flslPIiZ costl down recall per Ule 5 5 eer nd tlis rateof perannum. or rices.

wh mot rin. ai yester. it ThA 1ION e1ec I rV I tout sad oat M1. I YIZ.a4B5 a t. SCyIp.

tiDy szid pjQy ueso Lest Debes2. yTmI I0aS e. th ti t1. 215 F112JSI0W0OStl21 JW ses ad Nos. 55251.

CArCAgIAS OIL Yt5LZ5FflT 2544es ry of 10. toflpeald 20 1172201 to 1413000. SroIU PTaOLS PSrtbW IO. tOt. FiWoa iiie 10 54143 Jo 40O0eO4I6001 aes os.

815247 to TLAKWATI 100005 es ft JD NavTOAllOW t50G 000 tot200L100131 WgOSUmae4C1ioiL1O cleTAL is 21S4 t. Diiiee dock. erITsL AIT i12i t. Debestues iedi. No.

260 the Sa. L8ieoe 5Tie5ThIie4fldSBii p. 1. Bleot. 1rnii.

xu Powox Fie of OvdIr th 20724 LzPov Profieie ie 1 2 7110. TitaS ea 0020 Six Wxes LI esot fifly- d. STosoLM Ty o-L2es 000 Ust I4n Ieu wta abiesS Tieeu 120.220 S. laid. Ne i2fl20 lRaimd 154 TotS.

2120 Fe PS AJT 3 5 B9ik EZ haJ eaipany 1nflbi1d1ni' 7 kU. stisst. Elsets4 oS Investessst IO7Yesebarch5t. tat S. 5 5 5 Yrat day Tre tb be rtrictfresh A JoitnIghtIy3oS obtai sbl ago ws esrli wasnot eflectonlt tua- 3 75 75I1i orGnuen j.

re- easier t3k 1 car. 8cni of. 1910 theArgentino aliowin fa AOA i roizte4 bares Iuppor 1baaitb t48 tb 8hefland bec InIuuta ahaiesMalaceawasoffere9 1. 6 5 5 5 ovM3 tYellambrOSM Ve Spero t. tes cneand Matookwai toe buyingAsm cfubws 1l oess oTa 5 MONEYMABKTh IIISCOUNTS' u.

217 for the pnal1arnountdnito th Bascf jointitock forei fo metalin th percent. jpL year tlpdeposit Cuutfl Daytooihert 3 4 I I I. i I 2 neit jfl fpp I I I I king' S. 7. rbrqes 1tii 171.

1 34cl24e. Do. Sink tile. 1 St IMkt4Iieost1 2S Su t02otessf. 2Sf.

eIu .1 4I4 ea48i4242 1Om4Sci0oPt dau 4I' I Do4BenkTatoI 4 3iI 51J Vel. 242. 24k71117b. tm. A5OOdsa 315.

1Oe11e. 1O4 I WrUl2. 2. 541p4ia ItwwrM 1b15240. SI.

I Madul sbt 12. I Iiitoit. sOibs 444d. 451e8 4 4534. P1 Me es 27) 22010 OI 5545 SOr.

DIr. brWE kT. 201 204 Cveeeb20ie i4t tlocktna 1 24 Ii. M55. 31.

it I1d. teata. TT Ii. lEieL IftotE Ii. 12094.

10uL bnc TT sL4 20. S1d slid. Pl. TT 20. iit 3is0.

20. 0 7U14 fll0 1710j24. do S. 40 di lOd. 3SII4.

VpsiVdr I4 di 47)d. 4td. 472IL Wtav0des20d Iiiiid. 5. york l48715asi2 471Ji8212 th pni i I 201bs 31510d.

allotted- 3961d Ratla000 3953oj i- 1d ext againbe 5 ire L1531 9 GIjasovad 5. 700 WouS 13000 IMWIs0t 9 Leados Ws 5600 7.401 nea Bdtl 47o00 ClaSsed 2.813 eaynnv 21382 27.441 Incr sea wse Mated- Ii2DIAxcof05L414 AIm 1eerDee Zaser rae 7 erated I oth 23010 Litel. ThMedtbe 3eOm Ss1w7 5- 5 sy sat a ioas- bd Way 159715 220974 Eia4I 15th. 1a.4ac 1Us7.U4 213000 214000 3 Z20e20 21200 sA. Ot otb 15.000 21047131 29.000 M23069 110252 Do.

Zuls. 19.034 21318 215.125 a. 16.338 dota 166440 250015 7461 21031 icc ci. 1297 dIie 23276 asisse 22.511 ha ansI' 25429 I. India 316000 T551 line L1695 1 sseee 2481 L1ada1Ju 23) 3415950 3150885 31198913 a' 5) 31413527 3s4561 11306065 Ccto20a 1lt Jies 21025 led 3.

7 51 BaWsel i11J 211tr. 23.284 aL205- Twes1204 lass 60 leelas 21810 tesS. 2156 2144 NLI 54498 It 1l. 210621 15491 ff Tit8. 4 isM31Iti i ttrcvFrnYivi BOSteaen ittiL tp oat1destsswUZ 5' 4 5 AN ovzCouwoonmtn jng i- cn ot thisrequest Frenciaeo-eresied a.

dLTI 4 ap guldeite 8 Th9 oV stadt 1 ustniui BOU SE. 5 ed percsnt19121 Debenturetockat97. si Jos LI Sal ge to a ratafrorn as' es CItSUALTY REPORT3. resmnem 3u1 2404 It2 5. 2020a11 Mes I.

eat ieea 3m SS I Vie 20 4 0 2. 1" L. bs v. i.D tIAaeas 4 UI3E. 704 Jara Ia ss Pt 5 CTLI aara I Aa 1 I CTL 5----- a.

ssiats Mea lie 4 1 NpJ i3Ia ZJV. Nx I IaSeMd as. I13I Cs ia5sea mis IS5 sel io I 4 ri. 1 couY. 4mEND1 5' 9 DIYI4eII4 lzhaMtMrateof peieatpssaasnm tun 11 wrds yea.

IMdlyIdssdw44atthamerate Tv 801SS.455J A the OLths yrsn Lss tram o8pceeaitpsyablo ath. 21hiit. 4yaego wasths peoeal Is phereYpayible tsXatIL3InthePOuOdCnAUgM 1Aesra Incindlng of tbn nd topro redei desncjaUos. 47O3. med Csea me last.

reserve- 15214306 rnrl- CIIOWIthA1 LI ivi 30. debts. against 7. o2fAywfe disect re yea t1 5 ea1 ostt-mAktsg. 47 iubtanUi oftt 143 credit socount balance yrodlt to total es.

March31. man44eritznateofruhhorfor o1 nn sassy 1noedrrtoprovthniceadepththeInkIngofa Thitlngthe ofanevrie avrege 0 rr-egrmrn compInyhouI4 esoi4 f30 OctolwrjlSII ey wer7s6dpertou. 52. L1cus. or SW.

awsa 5o I 75 FeaosL Doar 1 7I 85 205. hem mt Bao20 Is45frmIMm4ea 22Thm. Fit 2Ik Mt ie fJoeewnL 0 F. Uwsi Slit 5lt Mieta 5 flaeas. u.ertt 5 2'-- SIP' eea i1ouiA P4.

bees 4t fras L4. See' 242 Iv Jsei5 hz.t.saua 44 33m410 ra MO GeiKa Ia 5 tea 8ML 3ta 1Lt5satlihtvUabeit. iaaL DtI20eti 215 52' IAaTAme 11 ea1 3. Mavii sLT Se aeaas Less lam. 05np Vtbe.ea.

7 20oi 15 4. i aS- 3. t. eoevevols. i- uo1 sWLo r' duiii 4.

ie es 6s5e. 53. Isa I Pal aa UAo1k 2 I en. cas-aar. etyloM3tnl1ew 4 L.

rlr rt.