London, Jan. 25.
Mo change was seen in silver prices in London to-day, with quotations being:
London spot forward Jan. 24 Jan. 25 204.
20d. sha.
19444.
London/New York:
One pound 1.5.$4.9911 $1991 One U: S. dollar 480184. 480304. Gold 139/7àd. 139/7d. Reuter.
The consolidated income account floes not include any income or losses of Spanish subsidiaries. Furthermore, no provision has been made for any damage to fixed property or losses of current assets which may have been, or may be sustained by such subsidiaries as result of the civil war as it is impossible to ascertain or estimate at this time the extent of such damage or losses.
Most of the operations are carried or in currencies other than U. S. dollars, and in preparing the foregoing income statement, such cur-rendes have been translated into U. S. dollars at average rates of exchange for the period. Open market rates have been used for all countries which exercise no exchange control. For - countries which do -exercise hange control but allow for both an official and free market, the lower free market rates have been used. In countries having various exchange categories, rates have been used approximating the rates at which transfers of funds can be effected. Such exchange rates have been used for translation into U. S. Collars of all items of revenue and expense, except that provision for depreciation has been translated at rates of exchange which result in depreciating the full dollar investment in properties.
Mo specific provision has been made in the above figures for United States Federal surtax on undistributed profits of companies which may be subject to such tax.
Text read from the printed page and cleaned; old type leaves the occasional error.