PINCHIN AND JOHNSON.
In view of the encouraging results of the past year, it is not surprising that the directors of Pinchin, Johnson & Com- pany should have decided to increase the capital, a decision readily supported by shareholders at the recent annual meeting. Both the chairman and the managing director spoke with hopefulness concerning the outcome of business for the present yeai, sales, it was stated, having shoWn a further satisfactory advance over the corresponding period of 1929. It was also explained at the meeting that there was no intention of immediately issuing the new share capital. A. W. K.
THE directors of Rolls-Royce, Ltd., at their meeting decided to recommend at the annual meeting at Derby, on April 11th; that a dividend be paid at the rate of 8 per dent. per anmirn, together with a bonus at the rate of 2 per cent. per annum for the foUrteen months ended December 31st, 1929, to be due and payable on April 30th, 1930.
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