The net profit for the year, subject depreciation, was $317,091.01 as, compared with '$288,798.63," an in: crease of $28,292.38. ' As in 19% the Aisproportionate ratio between the figures shown for gross and net profit fs principally due to the heavy interest charges payable to our bankers for the amount advanced by them: these Interest figures _being:—1935, $401,796.04—1034, $359,543.15. The benefit of the issue of the new capital only applying to the last four montts of the year.
The overdret. compared with the figure on December 31, 1934, shows fa decrease of $955,817.17 due to the amount received for the new shares issued, additions to plant and build-Ings and payment of interest charges being principally responsible for absorbing the difference between the
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