AN INDUSTRIAL RECOVERY.
I am able this week to refer to more than one industrial company giving signs of material recovery from conditions of depression. A striking instance is furnished by the latest report of the Renold and Coventry Chain Company, in which it is stated that sales in the home market during the past year increased by 23 per cent, in value and the profits for the year amounted to £195,868, from which there has been deducted 192,926 for depreciation, and 117,000 contribution to a subsidiary. The Directors recommend a dividend on the Ordinary Shares of 6 per cent., leaving nearly £13,000 to be carried forward. A year ago the profit before allowing for depreciation was only £135,651. The ordinary £1 shares now stand at about 25s. 9d. giving a yield to the purchaser of about £4 12s. 6d. per cent.
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