Recently renewed demand up to 6s. 3d. for the 4s. Ordinary shares of Inns and Company, owners of sand and gravel quarries, and public contractors for road-making and surfacing, anticipates that pending results for 1938 will be well maintamed. It is understood that, at the time of the Munich criele, this concern secured very large orders for sand for A,R.P. purposes. On the basis of the 15 per cent, annual distribution for each of the preceding two years, the shares yield, at the moment, just on 91 per cent.
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Attention directed to the bargain appearance of the £1 7e per cent. Cumulative Preference and 10s. Ordinary shares of Clover Paint and Composition, suggested hero a week ago when the prices were about 16s. 6d. and. 4s. respectively, has since caused a sharp jump in both classes to around .188. and 58. 9d. Jobbers reported particular demand for the Ordinary.
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The recent declaration by Brewers and Distillers, of Vancouver, of a dividend of 50 cents and a bonus of 25 cents, in respect of the past year to December 31, goes some way towards fulfilling the forecasts made here, and is certainly better than anticipated in other quarters. On the $5 shares this represents a distribution of 15 per cent., which gives the shares a handsome yield at the current price of 218. 6d. They are now finding more demand both in London and the Canadian markets, and an early advance to 24s. is talked of in market circles.
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Interest has arisen in the 5a. shares of George Spencer, Moulton, manufacturers of rubber sports accessories, rubber spring for railway carriages. Company has been producing gas masks for the Government, and it is thought that the previous year's revival of dividend with 5 per cent. should be continued at the same rate for 1938. If thts is so, then the shares would return close on 12i per cent. at the current price of around Is.
• • * • The above notes are not necessarily intended to be taken as recommendations to buy. but merely as current talk of the markets.