South Hetton Coal Co. Ltd.

Registered in 1898

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.

1890 - Advert from Kelly's Directory (1890)
Source: Kelly's Directory of Durham, 1890

1914 - Advert from Kelly's Directory (1914)
Source: Kelly's Directory of Northumberland, 1914

Registered – May 7, 1898, as a reconstruction of a company of same name registered July 18, 1874 (see vol. for 1899). The company owns the South Hetton and Murton collieries, near Seaham Harbour, co. Durham, including 7,343 acres of coal (of which 2,127 acres are freehold) and 674 acres of freehold estates; 1,386 acres of the above coal were secured on lease in 1900, and in 1906 the company acquired for £110,000 the freehold of 134 acres of land on which the Murton Pits stand, together with shaft and surface wayleaves and 775 acres of coal. In August, 1908, a coal royalty of 381 acres and land area of 300 acres, situate at Hawthorn, co. Durham were purchased for £63,000, which are also included in the total acreage shown above,

Capital – £1,000,000, in 50,000 five per cent, non-cumulative preference and 50,000 ordinary shares of £10 each; 30,000 preference and all the ordinary shares are issued and fully paid, making the paid-up capital £800,000. For every £100 stock of the old company holders received six fully-paid preference and ten fully-paid ordinary new shares.

Four per cent. Debentures – Authorised : £100,000; issued £45,300. Offered to shareholders in October, 1908, in bonds of £100 each, repayable in 20 years at 105 or by annual drawings commencing 1911.

Dividends (Ordinary shares) – To December, 1898, 8½ per cent.; for 1899, 20 per cent, for 1900, 40 per cent.; for 1901, 261 percent.; for 1902, 17½ per cent.; 1903, 12½ per cent.; for 1904, 10 per cent.; for 1905, 10 per cent.; for 1906, 11¼ per cent.; 1007, 17½ percent.; 1908, 20 per cent.; 1909, 10 per cent.; 1910, 7 ½ per cent.; 1911. 5 per cent.: 1912, 11¼ per cent.; 1913, 13¾ per cent.; 1914, 6¼ per cent.; 1915, 8¾ per cent.; 1916, 20 per cent.; 1917, 12½ per cent.; 1918, 7½ per cent. (free of tax); 1919, 21¼ per cent (free of tax); 1920, 15 per cent. (tax free); 1921, 2½ per cent.; 1922, 15 per cent. (free of tax); 1923, 5 per cent. (interim) November 27 (less tax).

Accounts – For half-year to December 31, 1922, submitted in London February 22, 1923, showed £12,790 credit balance carried forward after paying taxes. and ordinary dividend. Reserves at June 30, 1922, £147,335. No later accounts received.

Transfer form, common; fee, 2s. 6d. Voting power, one vote for every ten ordinary shares. The shares are quoted in the Official List. Latest price, ord., 14; pref., 7.375.

Source: Mining Manual & Mining Year Book for 1924