Horden Collieries Ltd.

Registered in 1900

Warning: This is not intended to be an exhaustive history of the company, but an indication of the changes of ownership and the links between companies and directors in those companies. Only collieries, pits etc. in the North of England are shown - the company may own other properties etc. outside this area and there may have been other changes of ownership etc. for which we currently do not have details.

Registered – January 30, 1900, to acquire about 16,000 acres of leasehold coal royalties, situate to the south of the Ludworth Whin Dyke, on the Durham Coalfield, and a tract of surface limestone included in principal lease. The leases are, with one exception, for periods of about 60 years. The purchase consideration was £95,000, payable £45,000 in cash and £50,000 in fully-paid £10 shares. The company was promoted by the vendors, the Hulam Coal Co., Ltd. (see vol. for 1900). The company has since acquired freehold coal under Hardwick royalty and the Shotton freeholds, in all about 1,280 acres; the Shotton Colliery has been reopened and commenced working in August, 1901. The Blackhall Estate, consisting of 129 acres of land and 138 acres of freehold coal, has been purchased. Royalties and other interests in the coal at Horden, Eden and Castle Eden, comprising 2,650 acres and 263 acres of land, on which the Horden pits and sidings and one of the Castle Eden shafts are situated, were acquired during 1920. The total area now held is about 4,077 acres freehold and 14,477 acres leasehold, estimated to contain in the thicker scams 300,000,000 tons of workable coal. The Horden, Shotton, and Blackhall Collieries are now being worked. At each of the Shotton and Horden Collieries there are also 60 by-product coke-ovens in operation.

Capital – £1,500,000, in 1,500,000 shares of £1 each; all the shares are issued and fully paid. The capital was originally £600,000 in 60,000 shares of £10 each. In February, 1900, 25,000 shares were offered for public subscription, and in February, 1907, 5,000 shares were offered to shareholders at par. The capital was increased from £600,000 to £800,000 in August, 1910, by creation of 20,000 new shares which were offered to shareholders at par, and to £1,000,000 in November, 1914, when a further 20,000 shares were offered to shareholders at par The shares were sub-divided in November, 1920, and at the same time the capital was increased to present amount by creation of a further 500,000 shares of £1 each which were allotted credited as fully paid to shareholders in the proportion of five new £1 shares for each old £10 share held, a sum of £500,000 being transferred from reserves and capitalised.

Five per cent. Debenture Stock – Authorised and issued £300,000; outstanding £270,000; repayable at par in 1927, or at 105 per cent. at any prior date on six months’ notice from company; interest payable June 30 and December 31. In November. 1904, £100,000 was offered for underwriting to shareholders of this and other companies interested at a commission of 3 per cent.; stockholders received an option until June 30, 1910, to exchange one-half their debenture holding into ordinary shares at par. In July, 1905, an unissued balance of £118,450 was offered for public subscription.

Dividends – For 1906-7 (15 months), 7½ per cent.; 1907-8, 10 per cent.; 1908.9, 6 per cent.; 1909-10, 5 per cent.; 1910-11, 4 per cent.; 1911-12, 8 per cent.; 1912-13, 12 per cent.; 1913-14, 8 per cent.; 1914-15, 7 per cent.; 1915-16, 12½ per cent.; 1916-17, 12½ per cent.; 1917-18, 14 per cent.; 1918-19, 14 per cent. (free of tax); 1919-20, 14 per cent. (free of tax) and 59 per cent. in fully-paid shares; 1920-21, 8 per cent. (free of tax) ; 1921-22, 8 per cent. (free of tax); 1922-23, 15 per cent. (free of tax).

Accounts – For year ended September 30, 1923. submitted in Darlington, November 28, 1923, there was a profit of £345,903 after writing off depreciation and providing for Government liabilities, making with balance forward a sum of £392,346; dividends absorbed £225,000, debenture interest £15,000, and £100,000 was transferred to reserve, leaving £52,346 carried forward. Reserves £165,000.

Transfer form, common; fee, 2s. 6d. Voting power, one vote for every share. The shares are quoted in the Official List. Latest price, 40s. 6d.

Source: Mining Manual & Mining Year Book for 1924