Denaby and Cadeby Main Collieries – Accounts for 1926 to 1927

November 1927

Hull Daily Mail – Friday 25 November 1927

Denaby and Cadeby Main Collieries.

The accounts of the Dcnaby and Main Collieries Company for the past year have been dealt with in two periods, viz., the half year ending December 31, 1926, and June 30, 1927.

The loss for the first period after providing for interest on Debentures, amounted to £113,720. The surplus brought in was £53,091, and to meet the deficiency, also to provide the half yearly divdend on the 6 per cent. Cumulative Preference shares, £56,629 was transferred from the reserve for taxation.

The profits for the half-year ended June 30, 1927 amounted £64.950, from which £5,000 must be deducted for the halfyear’s dividend on the Preference shares.

The directors recommend that the remaining £58.950 be carried forward.

Since the end of the financial year the board have disposed of the controllng interest in the Washington Coal Company. The company’s net profits were £48,483 for 1925-26 and £83.621 for 1924-25, and per cent, was paid on the Ordinary shares for each year. Net earnings for 1923-24 were £211.514, and the Ordinary shares received 8 per cent., while £61.064 was reserved, and £26,987 carried over.