34,000
(Engineering, Shipb., etc.)

JOHN BROWN 586,000 347,000 239,000
(Engineers, Shipbuilders, etc.)

BEYER PEACOCK 83,000 35,000 48,000
(Locomotive Builders)

BRUNNER MOND 824,000 770,000 54,000
(Alkali Manufacturers)

CAMMELL, LAIRD 238,000 147,000 91,000
(Iron, Steel, and Shipb.)

HAWTHORN LESLIE 202,000 102,000 100,000
(Sh'b. & Marine Engin'ring)

KYNOCH'S 153,000 114,000 39,000
(Explosives)

LAMBERT BROS. 142,000 84,000 58,000
(Coal Exporters, etc.)

POWELL DUFFRYN 422,000 279,000 143,000
(Collieries)

SAMUEL FOX 66,000 39,000 27,000
(Engineers)

SPILLERS & BAKERS 367,000 140,000 227,000
(Millers)

VICKERS, LTD. 1,019,000 809,000 210,000
(Eng. and Shipbuilding)

This table indicates that the Chancellor may expect to receive far more
than the sum he estimated from the war profits tax.

4. _The Manchester Guardian_, Feb. 28, 1916:

COAL PROFITS NEARLY DOUBLED

The tale of colliery war profits is continued by the report of North's
Navigation Collieries (Glamorganshire). The output for 1915 was actually
less by 87,810 tons (1,141,900 tons against 1,229,710), but the profit
was nearly doubled--L130,071 against L65,578. With the L10,496 brought
into the account the directors had their biggest total in recent years
available for distribution. The ordinary shareholders get 10 per cent
and a bonus of 2-1/2 per cent, which is the best payment since the 15
per cent paid for 1907. Advantage is taken of a prosperous year to place
L35,000 to the reserve fund, which has been rather overlooked recently,
only one allocation of L20,000 having been made in four years. It now
stands at L155,000, against L650,000 of share capital. For depreciation,
with regard to which item substantial provision is made each year,
L15,000 is written off. This leaves L10,567 to be carried forward. The
Company has the reputation of being well managed, and its coal
properties are regarded as being very valuable. The recently opened St.
John's pits are being developed satisfactorily, it appears, a further
increase in output being shown.

Despite a decrease in output of nearly 400,000 tons