San Mauricio maintains liquid cash position

Title

Language

English

Year

1940

Rights

In Copyright - Educational Use Permitted

Fulltext

SAN MAURICIO MAINTAINS LIQUID CASH POSITION In order to maintain a liquid financial position, the directors of the San Mauricio Company have decided not to declare a dividend at this time, according to an announcement made by Mr. H. P. L. J ollye, president of the company, on June 26. In a notice sent to shareholders, Mr. J ollye explained that while the company had a profit surpl'us of P500,000 available as of June 30th for dividends, the Philippine Town Meeting .... (Continued from preceding page) in those provinces where cooperatives are just being initiated and where the voters are determining their stand on this matter. Interest, also, was shown by a new group of listeners, the labor group, in this last debate. Again Marsman Trading Corporation has seen the timeliness of subjects and introduced them that the people might have the benefit of intelligent, learned, sound discussion of vital topics. policy adopted some time ago of maintaining fifteen months' routine supplies on account of war conditions are rising prices, has left an amount outstanding of approximately P600,000. The directors decided that it is wiser at this time to liquidate this account instead of using the cash surplus for dividends. It is confidently expected that the company will resume payment of dividends by the end of the next quarter, and at the same time maintain a strong cash position. San Mauricio will show net profits for the six months ending June 30th, of around Pl,100,000 after allowing for depreciation and ore depletion. A dividend of P0.03 per share, or P600,000, was paid in April, 1940, which leaves a surplus of P500,000. Operations at the San Mauricio mine are continually showing good results, and for this reason the directors are confident that dividend payments will be resumed by the end of next quarter. K & M BSBESTOS PBPER & MILLBOBRD 14 K&M Asbestos Paper is characterized by its smooth finish, strength and uniformly white color. The reason for the high quality of K&M Paper is the fact that it is composed of pure Canadian asbestos fibre mixed with a small quantity of binding material. K&M Asbestos Paper is furnished in several grades which are suited for a variety of heat insulating purposes. K&M Millboard is an asbestos board used as a fireproof liner for ceilings, floors, partitions, furnaces. It can also be cut into gaskets or discs. KERSBEY & MRTTISON COMPRNY AMBLER, PA. Philippine Representatives: MARSMAN TRADING CORPORATION THE MARSMAN MAGAZINE for July, 1940

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