Whitehaven Hematite Iron & Steel Co. Ltd.

Registered in 1888

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 – March 28, 1888, to take over the property of a company of same name registered July 1, 1880. The company owns ironworks at Cleator Moor, Cumberland; also the Aldby Freehold Estate. During 1914 an interest in the Cumberland Waste Heat Co. was acquired. A fusion of interests with the North Lonsdale Iron and Steel Co., Ltd., has been concluded, the basis being one fully-paid £1 share in the North Lonsdale Co. for each two fully paid 10s. Whitehaven ordinary shares.

Capital – £89,050, in 40,000 seven per cent, cumulative preference shares of £1 each and 98,100 ordinary shares of 10s. each; 29,840 preference and all the ordinary shares are issued and fully paid. The shares, originally £100 each, were sub-divided in 1900. The capital was increased from £100,000 to £140,000 in 1908 by creation of 40,000 preference shares of £1 each. The capital was reduced to present amount in December, 1912, by writing 10s. off each ordinary share.

Dividends – Preference is paid to March 31, 1922. (On ordinary shares): 1899-1900, 7½ percent.; 1900-1, 5 per cent.; 1901-2,5 per cent.; 1902-3, 2½ per cent.; 1905-6, 2½ per cent.; 1906-12, nil; 1912-15, 5 per cent, each year; 1915-16. 10 per cent.; 1916-17, 11 per cent.; 1917-18, 10 per cent. (free of tax): 1918-19, 9 per cent. (free of tax); 1919-20, 12½ per cent. (free of tax); 1920-21, 10 per cent. (free of tax); 1921-22, nil; 1922-23, nil.

Accounts – Made up to March 31, but issued to shareholders only.

Transfer form, common fee. 2s 6d.

Source: Mining Manual & Mining Year Book for 1924