Iv.—: Profits in the Iron and Steel Trade.

The Economist of May 26, 1905, gives the following statistics showing the position of 12 iron and steel factories in 1903-4 and 1904-5:—

The dividends vary for different firms. Bolckow, Vaughan, & Co. have given 5 per cent. for the last 4 years, and the profits for the year ending June 30, 1905, are £213,000, of which £56,000 goes in increased plant. Guest, Keen, & Nettlefolds gained a net profit of £337,000 on the year ending June, 1905, and on the preceding year £333,000, and since its establishment it has paid 10 per cent. dividends.

Such an industry is not ruined. Germany itself recognised the supreme position of the English steel and iron industries, when, in the three years Rail Syndicate, concluded in 1904 between England, Germany, Belgium, and France, the following share assignment was made on a total of 1,300,000 marks.