Cargo Fleet Iron Co., Ltd.

Registered in 1883

Registered – January 29, 1883, and owns works comprising three blast furnaces, coke ovens, bye-products recovery plant, finishing mills, steel works and freehold land, total area about 198 acres, situate near South Bank Station, Middlesbrough, on the south aide of the River Tees. A large interest in the share capital of the Wingate Coal Co., Ltd., has been acquired.

Capital – £1,000,000, in shares of £1 each; all the shares are issued and fully paid.

Debentures – £246,500 four and half percent. first mortgage in bonds of £100 each, balance outstanding of £500,000, £370,000 of which were offered for public subscription in May, 1905, at 92 per cent.; they were issued to bearer, but may be registered at any time; the Weardale Steel Coal and Coke Co., Ltd., guarantee the interest and the redemption of £12,500 yearly, commencing January 1, 1907, until all are redeemed at £105 per cent. by drawings or by purchase in the open market for cancelment at or under the same price; in addition to redemption or purchase of £12,500 annually, the company, out of profits remaining in any year after payment of a dividend of 6 per cent, for such year upon shares, carries to a special fund an amount not exceeding in any one year £12,500, to he applied in further redemption or purchase; the company may pay off all at £105 on six months notice at any time.

£500,000 six per cent. A debenture in bonds of £10 each were offered to shareholders for subscription at par in April, 1907, redeemable at 5 per cent, premium after January 1, 1925, or by purchase at or below that price before that date; £3,500 have been redeemed, leaving £496,500 outstanding. Interest is payable January 1 and July 1.

Dividends – 1904-5, 5 per cent.; 1905-6, 5 per cent.; 1906-7 to 1912-13, nil; 1913-14, 2½ per cent.; 1914-15, 5 per cent.; 1915-16, 5 per cent.; 1916-17, 5 per cent.; 1917-18, 5 per cent.; 1918-19, 5 per cent.; 1919-20, 5 per cent.; 1920-21, 5 per cent. psid December 31, 1921; 1921-22, nil; 1922-23, nil.

Accounts – For two years ended September 30, 1923, submitted in Middlesbrough November 28, 1923, there was a profit of £191,961, making with balance forward a sum of £344,806; debenture interest absorbed £82,156, and £60,000 was written off depreciation, leaving £202,650 carried forward: cash £58, 878, Government securities £50,216, debtors £226,466, stock in trade £230,855, works, plant and invested in connected companies £2,010,225; creditors £373,743. Reserve £150,000. Provision for renewals, re-linings and deferred repairs £97,028.

The shares and debentures are quoted in the Official List. Transfer form common; fee, 2s. 6d. Voting power, one vote for each share. Latest price, ord. 15s. 4½d ; debs., £4 7/8.

Source: Mining Manual & Mining Year Book for 1924

• Mining Manual & Mining Year Book for 1924
• 1881 Mines Inspectors Report (C 3241) Where to find this report
• Mineral Statistics for 1883 - Government report from the Mines Department (C 4058), published in 1884 — includes List of Mines and Mineral Works
• Mineral Statistics for 1885 - Government report from the Mines Department (C 4771), published in 1886 — includes List of Mines and Mineral Works
• Mineral Statistics for 1887 - Government report from the Mines Department (C 5464), published in 1888 — includes List of Mines and Mineral Works
• 1888 List of Mines - Government report from the Mines Department Where to find this report
• 1894 List of Mines - Government report from the Mines Department Where to find this report
• 1896 List of Mines - Government report from the Mines Department, also available online at Peak District Mines Historical Society Ltd Where to find this report
• 1896 List of Quarries
• 1897 List of Quarries
• 1899 List of Mines - Government report from the Mines Department Where to find this report
• 1900 List of Mines - Government report from the Mines Department Where to find this report
• 1902 List of Mines - Government report from the Mines Department Where to find this report
• 1905 List of Mines - Government report from the Mines Department Where to find this report
• 1905 List of Quarries
• 1910 List of Mines - Government report from the Mines Department Where to find this report
• 1915 List of Mines - Government report from the Mines Department Where to find this report
• 1921 List of Mines - Government report from the Mines Department Where to find this report
• 1923 List of Mines - Government report from the Mines Department Where to find this report
• The Times Newspaper