Weardale Lead Co. 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 – September 18, 1900, and is a reconstruction of a company of the same name registered June 21, 1883 (see vol. for 1900). The company owns a lease of lead mines and smelting works at Weardale, Durham, total area about 80 square miles. The lease is for 60 years from 1917, held from the Ecclesiastical Commissioners, and in 1900 a new arrangement was entered into making future royalties regulated by the sliding scale. The smelting plant was closed down September, 1919, end the ore is now sold. A slimes treatment plant has been installed. Arrangements have been made to lease the Allendale Lead Mines in close proximity to the company’s properties.

Capital – £100,000, in shares of £1 each: 97,919 shares are issued credited as 15s. paid and 5s. has been called, making fully paid; the calls have been mct by extra dividends paid is. August, Is. November, 1906, is. August 29, 1908, 1s. October 31. 1908, and 1s. August, 1910. The reconstruction was arranged in order to reduce the uncalled liability by the issue of two shares credited as 15s. paid in exchange for each old £4 share, £2 5s. paid.

Dividends (free of tax) – 1900-1, 1s. 3d.; 1901-2, nil- 1902-3, 4½d.; 1903-4, nil; 1904-5, 3d.; 1905-6, 3s. 6d. (of which 2s. was applied in meeting a call of like amount); 1906-7, 3s.; 1907-8. 4s. (of which 2s. was applied in meeting a call of like amount); 1908-9, 2s.; 1909-10, 3s. (of which is. was applied in meeting a call for like amount making shares fully paid): 1910-11, is.; 1911-12, 2s; 1912-13, 2s. 6d.; 1913-14, 2s. 6d; 1914-15, 3s.; 1915-16, 3s.: 1916-17, 4s.; 1917-18, 2s. 6d.; 1918-19, 1s. 6d. and 6d. bonus; 1919-20, 10 per cent, and bonus of 2½ per cent.; 1920-21, nil; 1921-22. 6 per cent. (lest tax); 1922-23, 10 per cent. (less tax).

Accounts – For year ended September 30, 1923 submitted in Newcastle, November 21, 1923, showed a profit of £14,803. making with balance forward a sum of £17,687, dividend absorbed £9,792, tax £2,450 directors’ additional remuneration £362, leaving £5,083, which was carried forward; cash £18,194, investments £34,564, debtors £7,654, stocks on hand £4,995; creditors £8,555. Reserve for taxation £14,016. The shares are quoted in the Official List. Transfer form, common; fee 2s. 6d. Voting power, one vote per share. Prices, 1921: highest, 19s. 6d.; lowest, 13s. 6d.; 1922: highest. 20s.; lowest. 12s. 5d.; 1923: highest, 23s. 9d.; lowest,

Source: Mining Manual & Mining Year Book for 1924