The talking machine world (Aug-Dec 1919)

December 15, 1919 THE TALKING MACHINE WORLD 199 GRAMOPHONES Complete — Fittings — Sundries — Repair Parts— Needles Special Lines and Quotations for Export Trade THE BRITISH POLYPHON CO. Glasgow, Scotland 27 Jamaica St. 1, 2 and 3 NEWMAN STREET LONDON, W. 1, ENGLAND FROM OUR LONDON HEADQUARTERS^ ( Continued from page 198) of the factories by 100 per cent. The shareholders would all agree that the trading profit for the year £145,397 was exceedingly good in all the circumstances — indeed, splendid. Of course, it was much less than it was last year by about £ 70,000, but, on the other hand, it was substantially in advance of the figures for the two years immediately preceding the war. There was a balance of unappropriated profit of £153,202, comparing with £163,804. Last year, with £500,000 ordinary capital, they declared a dividend of 10 per cent., less tax, and a bonus of 5 per cent., less tax, and carried £50,000 to the reserve for equalization of dividends. For the year under review on an ordinary share capital of £750,000 they were paying a dividend of 10 per cent., less tax, and a bonus of 5 per cent., less tax, with the reserve for equalization of dividend undisturbed, the balance being carried forward. Those who retained their shares held at this time last year, and also those distributed by way of bonus in the spring of this year, would be receiving just half as much again in dividends as they did a year ago. In the course of an analysis of the balance-sheet, he said that probably the main feature was the item, "patents, goodwill, and trade marks," which originally stood at £482,847, and now was at the nominal figure of £1. Certainly that item was worth more than the original valuation, and having regard to the value of their world-wide trade marks it would be difficult to estimate as a going concern the worth of their patents, good-will and trade marks. 21st Anniversary Celebration Next Year. Next year, in August, there would fall the 21st anniversary of the original incorporation of the company, and he had had the honor of being chairman throughout without a break. The present company was taken over from the old company as from June 30, 1900, so that it had had nineteen full trading years. In the first two years it distributed dividends of 6 per cent, and 8 per cent. respectively, and in 1915 no dividend was declared, yet over the whole period the average annual distribution had been 15 per cent., and that took no account of the 50 per cent, distribution of bonus ordinary shares early this year. During the nineteen years the trading profit had amounted to just about £3,000,000, the actual being £2,966,221. During the war period, which he took from July 1, 1914, to June 30, 1919, their average profits had been £145,000, and the average distribution in dividends 10 per cent. — both figures well below the general average including these years — indicating that they had not unduly benefited by reason of war condition as had a number of other companies, but had contributed largely to the successful issue of the war and had been able to set a standard of excellence and low cost in manufacture which was much appreciated and acknowledged by the Government departments. A Wonderful War Record! Dealing with the war record of the company Mr. Williams said they had manufactured at Hayes and delivered to the Government 4,000,000 time fuses — each of these having some thirty separate parts to be assembled as a whole — 7,100,000 brass shell cases — mostly of the 18-pounder type— 19,200,000 primers, 127,000,000 charges or cartridge clips, a great number of aeroplane parts, and tools for equipment of other factories. In the cabinet factory, besides complete aeroplanes and a number of parts, they made 500,000 ammunition boxes, which utilized some 7,000 tons of timber. These figures were mostly in millions, quantities difficult to conceive and appreciate. As to the future, they would probably have gathered that the immediate outlook was not without anxieties. Eaw material was very difficult to obtain, at any rate in the quality which was the best and which they always insisted upon, and prices, in some cases, were practically prohibitive. Labor was restless and very expensive. Overhead charges were higher then ever known before, and the out put of their machines had not yet by any means reached the figure they desired. When he addressed them last year l.e stated that the sales of gramophone goods for October, 1918, had exceeded in amount the sales of any previous month in their history. The sales for October in the current year had exceeded those of the corresponding month by more than 100 per cent. (Cheers) — anil that was an indication of what might be before them. The demand for "His Master's Voice" goods all over the world was simply staggering. Their record for nineteen years of trading in profit and dividend was surely satisfactory. Their balance sheet was a model, and their assets gave an undeniable assurance of enduring stabili+y. He moved the adoption of the report, which was seconded by Mr. Alfred Clark and unanimously agreed to. General Items of Trade Interest How to amuse the children is no longer a problem, say ' ' His Master 's Voice ' ' people. They have issued an album of four 12-inch double records of English Nursery Rhymes as, for instance: Little Bo-Peep, Little Jack Horner, Polly Put the Kettle On, Jack and Jill, etc. These rhymes total some 28 on the four records. All are recorded by Miss Marjorie Montefiore. There is a great boom in the sales of dance records on this side, not unexpected of course, at this time of year. The ' ' His Master 's Voice, ' ' the Winner, and the Columbia companies have issued special programmes. Other lists also feature the dance vogue. The long-promised anti-dumping bill is officially said to exist. It is now under discussion by Cabinet ministers, and will be introduced in Parliament shortly. It will have little power to exercise as far as the gramophone trade is concerned, because "There ain't likely to be no dumping." I am told! A big trade fair will open at the Crystal Palace, 8. E. London, on February 23 next. Provision is (Continued on page 200) The Sound Box That Has Beaten the Band An All British Production of the Highest Grade; Marketed at Popular Prices 4— Models Only— 4 Export Quotations for Quantities at Extraordinary Low Prices. LARGEST OUTPUT IN UNITED KINGDOM Vernon Lockwood Manufacturing Co., Ltd. 76-78 CITY ROAD LONDON, E. C. I. HOME TRADE OUTPUT BOOKED UP FOR SEASON 1919-1920. WILL MAIL SAMPLE SET 4 MODELS B.C.E.F.(one only) TO ANY RECOGNIZED JOBBER IN RECEIPT DRAFT, $5 DOLLARS J