Durham Mining Museum - Stock Exchange Information (original) (raw)

Extracted from: The Stock Exchange Year-Book for 1878, by Thomas Skinner

In the case of companies worked upon the cost-book principle the laws of ordinary partnership prevail as regards the liability of shareholders ; it is quite unlimited.

Darlington Iron Company, Limited. — Directors: J. Dodds, M.P. (Chairman), Col. Beaumont, M.P., J. Gjers, C. J. Backhouse, and T. Barningham (Managing Director). Secretary: R. Wilson. Office: Albert Hill and Springfield Ironworks, Darlington. — The company was started in 1872. The capital is £350,000 in shares of £20 each, of which £218,750, or £12 10s. per share, has been called up. The accounts are made up annually to December 31, and submitted in March. For the 13½ months ending with 1878 there was a dividend of £2 10s. per share, £25,000 was placed to reserve, and £11,918 was carried forward; but for 1874 there was a loss of £38,582, which absorbed the reserve fund and the balance at profit and loss, and left a deficit of £1,663. In 1875 this debit balance was increased to £12,167, but in 1876 it was reduced to £9,642. The company is quoted in the official list. Transfer form, common; fee, 2s. 6d. per deed.

Devon Great Consols Company, Limited. — The company was established in 1844, it was registered as a limited company in 1872, and in 1877 again underwent reconstruction.

Dolcoath Mine. — Address: J. Thomas, Camborne, Cornwall. — This property (tin and copper) is worked upon the cost-book system. There are 4,296 shares, on which £10 14s. 10d. is paid. Meetings are held quarterly. The recent dividends have been 7s. 6d. per share in October, 1876, and 7s. 6d. in January, 1877. The total dividends paid amount to £111 1s. 3d. per share.

Don Pedro North Del Rey Gold Mining Company, Limited. — Directors: S. L. Foster (Chairman), Gen. D. Downing, and Col. T. M. Weller. Managing Director: J. E. Dawson. Office: 86, London Wall, London, E.C. — The capital consists of £99,975 in shares of £1, of which £79,820, or 16s. per share, is paid up. The accounts are made up annually to December 31. No dividends have been paid since March, 1872. The shares are quoted in the official list. Transfers are to be made out on common forms ; fee, nil

Dynevor, Dyffryn, and Neath Abbey United Collieries Company, Limited. — Directors: G. P. Bidder, jun., J. H. Lloyd, J. C. Parkinson, W. H. Holyland, T. Marlow, E. A. Moore, B. P. Bidder, and J. N. Moore. Secretary: J. A. Mays. Offices: 223, Gresham House, Old Broad Street, London, E.C. — The company was formed to take over and work the collieries of this name. The consideration was £380,500. The capital consists of £60,000 A shares of £25 each, £140,000 B stock, and £210,000 in first mortgage debentures. The debentures were offered for public subscription in 1874 by the Railway Share Trust Company, Limited, and in October the Stock Exchange Committee granted a special settlement, but no reference was made to an official quotation. They are of £100, bearing 8 per cent. interest, payable by coupon the 1st of January and July, and redeemable by annual drawings at £110 in twenty years by an accumulative sinking fund of 2½ per cent. per annum, the first drawing to be in 1876. Power is reserved to increase the sinking fund in any year, and to apply such increase either to the purchase of the debentures in the open market or to additional drawings. The report to June 30, 1876, showed a loss on the working, and the bondholders were asked to extend the patience already shown by refraining from presenting their coupons for the present. Transfers are to be made out on common forms; fee, nil.