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AFRICAN AND EUROPEAN INVESTMENT COMPANY. Preliminary figures are also published of the results of the African and European Investment Company which has im- portant interests in the coal and steel industries of South Africa as well as in the gold and diamond mining industries. The company's net profit for the year was reduced to £478,838 compared with £807,888. The total dividend for the year has been cut by 5 per cent. to to per cent. The whole of the company's outstanding 64 per cent. debentures were redeemed during the year and replaced by an issue of 519,206 £i ordinary shares at £2 per share. There is therefore a substantial share premium item. This is transferred to the general reserve, together with £5,594 against £15o,00o from the year's profit. * * * *
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