ANGLO-PERSIAN OIL.
As I explained last week the shareholders of the Anglo- Persian Oil Company had an agreeable surprise in the increase in the dividend for the past nine months (the period covered
by the report) at the rate of 121 per cent. per annum as compared with 71 per cent. per annum for the previous twelve months. The annual report which has since been issued confirms the good impression created by the dividend, though as usual shareholders will have to wait for the annual meeting to, obtain the full review of the situation, which is always given then by the chairman. The profit (less depreciation) for the nine months of £2,833,000 is, however, at the rate of over £3,700,000 per annum, and for the whole of the twelve months, 1927-28, the profit was only 13,113,000. The balance sheet also is a good one, showing an increase in cash of over half a million. The report states that pm., duction from Masjid-i-Suleiman continued steadily to increase throughout the past nine months, while the existence at Haft Kel of a large oil-bearing structure has now been 'definitely established by a number of flowing wells.
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