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Message: Emoticon Listing HTML Help	[quote]Hi, I found this in the papers this week. SHIPLEY COLLIERIES. SALE BY THE TRUSTEES FOR OVER £850,000 MODERNISING A GREAT MINE RIPLEY AND HEANOR NEWS 24TH NOV 1922 One of the biggest colliery deals of recent years has just taken place in the sale of the famous Shipley Collieries, by the trustees of the Miller-Mundy estate; the sum involved being over £850,000. The position of trustees as owners and operators of industrial undertakings is full of difficulties, and yet selling interests involving very large sums is not always easy. Their acquisition and offer to investors by public issue seems to be becoming the modern solution, and it is in this manner that the Shipley deal will be effected through Messrs. Haswell, Veitch, & Co. The Shipley Collieries have earned large profits for many years. The pre-war standard is no less than £107,205, which figure has been practically the average for the last fourteen years. Even last year, in spite of the coal strike, which lasted three and a half months, profits exceeded £75,000, or at the same rate of £107,000 a year. The output of the Shipley Collieries has exceeded 11 ½ million tons in the past 13 years, but even after increasing this output, as is proposed, to a million tons a year, the life of the collieries is estimated at a minimum of 40 years. According to Sir John Fry, Bart, chairman of the company, one of the best-known colliery authorities in the North Country, the miners are to some extent accustomed to post-war conditions, and although shorter, the output approximates in many places to that of 1913. Mr Robert Clayton general manager of the Hickleton Main Collieries will become managing director of the Shipley Collieries. Under his supervision mechanical development will be brought up to date, and coal-cutting machinery introduced. The considerable capital required for this development is assured, and largely increased profits are anticipated. The public will have an opportunity of subscribing for the debenture stock and ordinary shares of the company in the course of the next few days. The audited figures will show that on past profits alone, after providing for the interest and redemption of the debenture stock, there would be over £73,000 available for dividends, reserve etc, on the £400,000 of ordinary shares, on which a dividend of 10 per cent, would require only £40,000. Jenny [/quote]
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Jennypeg
Researcher

Shipley Colliery from Bulmer's 1895 Derbyshire
replied on: 4/8/2005 8:17:11 AM

Hi,
I found this in the papers this week.

SHIPLEY COLLIERIES.
SALE BY THE TRUSTEES FOR OVER
£850,000
MODERNISING A GREAT MINE

RIPLEY AND HEANOR NEWS
24TH NOV 1922
One of the biggest colliery deals of recent years has just taken place in the sale of the famous Shipley Collieries, by the trustees of the Miller-Mundy estate; the sum involved being over £850,000.
The position of trustees as owners and operators of industrial undertakings is full of difficulties, and yet selling interests involving very large sums is not always easy. Their acquisition and offer to investors by public issue seems to be becoming the modern solution, and it is in this manner that the Shipley deal will be effected through Messrs. Haswell, Veitch, & Co.
The Shipley Collieries have earned large profits for many years. The pre-war standard is no less than £107,205, which figure has been practically the average for the last fourteen years. Even last year, in spite of the coal strike, which lasted three and a half months, profits exceeded £75,000, or at the same rate of £107,000 a year. The output of the Shipley Collieries has exceeded 11 ½ million tons in the past 13 years, but even after increasing this output, as is proposed, to a million tons a year, the life of the collieries is estimated at a minimum of 40 years.
According to Sir John Fry, Bart, chairman of the company, one of the best-known colliery authorities in the North Country, the miners are to some extent accustomed to post-war conditions, and although shorter, the output approximates in many places to that of 1913. Mr Robert Clayton general manager of the Hickleton Main Collieries will become managing director of the Shipley Collieries. Under his supervision mechanical development will be brought up to date, and coal-cutting machinery introduced. The considerable capital required for this development is assured, and largely increased profits are anticipated. The public will have an opportunity of subscribing for the debenture stock and ordinary shares of the company in the course of the next few days.
The audited figures will show that on past profits alone, after providing for the interest and redemption of the debenture stock, there would be over £73,000 available for dividends, reserve etc, on the £400,000 of ordinary shares, on which a dividend of 10 per cent, would require only £40,000.

Jenny

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