Of low-priced shares in the Steel group, some market men indicate the 5s. Ordinary of British Steel Construction (Birmingham). Ltd., as deserving attention around the present price of 6s. 7ed. On last year's distribution of 15 per cent., out of available earnings of 26 per cent., the return now obtainable is just over 11/ per cent.
This Company was formed in 193(i with an issued capital of £70,000, the purpose being to acquire two established businesses one of building contractors and constructional engineer's; the other that of structural engineers and steel fabricators. The former has developed a new design for aircraft hangars, and recently completed one such building at the Walsall Airport.
For the past financial year ended August 31 last, dividend receipts from the working subsidiaries amounted to i18.339, compared with £14,641 for the preceding 13 months, and the dividend was increased from 10 to 15 per cent. It was stated at the annual general meeting, in October last, that contracts in hand exceeded £225,000 in value, and that the new factory at Wednesbury, completed in August last, was the most up-to-date in design and layout, and would enable the largest contracts to be successfully undertaken.