RISE IN COURTAULDS. _ .
The " star " turn has again been taken by Courtaulds, and at the price shown above, the entire capital of the Compan-y is seen to be valued at something like £86,000,000. Even when all allowance is made for expectations of increased dividend; this is a colossal capitalization, and while there seems to be every confidence in the Market of the price being justified by results, there are also not wanting signs of the speculation itself having gone rather far. Based on the last dividend announcement, the present yield to the investor would, of Course, be ridiculously inadequate, but the fact that the Directors made a small increase in the interim distribution hair encouraged hopes among the speculators of some sensational developments, while there has been a good deal of talk as to a further bonus issue of capital. Those reports at preaent lack confirmation, but the belief gains ground that the first impression created when the silk duties were imposed, namely, that in the long run the results would be beneficial rather than prejudicial to Courtaulds, is correct.
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