Brazilian warrant agency

Abstract

The Brazilian Warrant Agency and Finance Company, Limited, according to the statement of Mr. A. Whitworth, Chairman, at the annual meeting, paid for the year 1934 4 per cent on its Ordinary Shares, made possible through the authorization to reduce the nominal share value from ten to two shillings. On the Preference Shares an interim dividend of 31/2 per cent and a final dividend 31/2 per cent were paid. Total payments amounted to 26,500 the profit and loss account showing a balance of 41,994- 14-9. During the year advantages were taken of the relaxed rules on Brazilian exchange control, with the result that certain surplus cash balances were transferred to London. Like favorable conditions held also for the Cambuhy Coffee and Cotton Estates, Limited.