CALCUTTA ELECTRIC SUPPLY The results which Lord Meston, the chairman
of the Cal- cutta Electric Supply Corporation, reviewed on Monday reflected chiefly the result of having given away to the con- sumers very substantial reductions in the domestic and kindred charges. He was able, fortunately, to show that these conces- sions had been largely balanced by increased sales of electrical energy so that the net reduction in trading results had been only £24,000. Moreover, even that reduction had been offset by a substantial saving in overhead charges resulting from the redemption of the Lsoo,000 debenture last August. The ordin- ary dividend is to per cent. tax free as against 12 per cent., but this is distributed upon a larger capital since ordinary stockholders have subscribed at par for an additional £400,000 of stock. Lord Meston indicated that the corporation would continue to pursue its forward policy by altering its high- tension power rates in favour of consumers at a cost of £70,000 a year, and reported that the new super station at Mulajore would be in operation for the winter of 1939.
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FINANCIAL NOTES
BRITISH EQUITABLE ASSURANCE
Among the insurance companies which have made a very creditable showing in 1937 is the British Equitable Assurance whose total assets now amount to £2,129,124. The company obtained improved results from both its Life and Fire depart- ments. The net new life business amounted to £834,742 against £829,354, and the Fire department contributed a profit of £8;727, against £7,551; As has happened with Other com- panies, the experience in the accident department was rather less favourable than in 1936, but a small profit of £2,079 against £4,003 was nevertheless earned. The dividend is again xo per cent.
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