18 MARCH 1938, Page 42

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GOOD NICKEL EARNINGS.

The International Nickel Company of Canada, in common with other base metal producers, suffered a setback in earnings in the last quarter of 1937. But inevitably the company, controlling a very large part of the world's supplies of a material equally essential for peace and for war, did very well over 1937 as a whole. The report shows that the net profit reached the, record figure of $50,299,624 (about Lgo,o6o,000), an increase Of $13x434.098. Dividends already announced on the common shares amounted-to $2.25• compared with $1.30 in 5936. These dividends have been earned with a com- fortable margin ; after -deducting preferred dividend, the earnings on the common 'shares work out at $3.31 against $2.39. The 1937 earnings were equivalent to 77 cents for the first quarter,- 94. rents for the second, 86 for the third and 74 cents for the fourth quarter. The -fourth quarter's (Continued on Page 496.) FINANCIAL NOTES

(Continued from page 494.) profit of $11,355,242 showed a decline of $1,674,786 on the previous quarter. Sales of nickel for the year rose to a new record figure of 207,700,943 lbs. compared with the previous record of 168,927,980 lbs. in 1936.