OCR Text |
Show BIG DIVIDENDS PAID BY ROYAL DUTCH CO. Net profits of Royal Dutch Petroleum company for 1918 were $29,020,000, against S17.S3S.000 in 1917, according to advices to Joseph Walker & Sons. The company last year paid dividends of 40 per cent on 6.6, 000 stock, against -IS per cent on $34,3S3.000 the preceding year. Summary Sum-mary of the report says: "Cash on hand amounted to $26,135,-000. $26,135,-000. against $14,547,000 in 1917. Cash on hand of the Bataafsche increased by $17.-tiOO.OOO $17.-tiOO.OOO and its liquid assets from $54,000.-000 $54,000.-000 to $73,000,000. Insurance fupd of the Bataafsche was increased from $15,300,-000 $15,300,-000 to $19,700,000. "In consequence of great reduction in production of coal, which it is estimated will amount to over 100,000,000 tons in 191!), there is an enormous demand for liquid fuel. Prices of the same, as well as other oil products, continue high, and, considering that visible supply of the world of about 40,000,000 tons was practically prac-tically bespoken before the coal shortage, there is iittle possibility of a reduction in oil prices. "'To cope with this situation, Royal Dutch Shell group has purchased control of Mexican Eagle Oil company, the greatest great-est producer and second largest refiner in Mexico. Plan Ls are under construction and nearing completion for increasing refining re-fining capacity of this company, as well as Royal Dutch's other Mexican property at La Corona. Also, plants for increase in Terming capacity in India and the far east generally, held up in consequence of the war, are being purchased and great progress hag been made since the armistice. armi-stice. "The same applies to Venezuela, where drilling has commenced in new fields. Production and refining in Rumania has recommenced and a certain amount of product has already been obtained. Russia remains considerably disturbed, but still there has been a production of 1,250,000 barrels. "Russian properties are standing now on the books as a liabilitv of $SSO,000. In the last two years $24,000,000 has been written off on account of Russian holdings, hold-ings, which actually stood as an awsot of $23,000,000 only. On the other hand, production and refining in Egypt has made considerable strides and a new topping top-ping plant and a large new storage completed." com-pleted." Boston News Bureau. |