Berlin, Feb. 1.
At the meeting to-day of the board of directors of the Allgemeine Elektrizitaets Gesellschaft, popularly known as AEG, one of the two leading electrotechnical concerns of Germany, the balance sheet for the year ending on September 30, 1937, was approved and passed. The turnover for the year was returned at 397,000,000 Reichsmarks as against 316,000,000 for the preceding year. In the profit and loss accounts the net profits were shown as being approximately 7,500,000 Reichsmarks of which 370,000 Reichsmarks were required to meet the interest and debt service while about 2,330,000 Reichsmarks were credited to the reserves.
The board proposes that a dividend of 4 per cent. be paid on ordinary shares, this being the first dividend declared since the depression.
A general meeting of the shareholders will be held on February 24, 1038. The business prospects of the firm were described as very satisfactory.—Trans-Ocean. partial moratorium, Most Importers very soon found it impossible to provide necessary funds to meet their drafts on due dates, and were forced to ask for extensions. The
Text read from the printed page and cleaned; old type leaves the occasional error.