for Holbrooks have increased their trading profit £4,694 to £35,170; but
income tax is higher, and £5,000 has been used as a special reserve for
investments, so the available profit is only £23,046, as against £25,055
in the previous year. The dividend remains at 20 per cent, but £3,072
more is carried forward than was brought in, and the Board say that the
unsettled state of the world justifies them in doing this. I suspect
that they are building up a reserve for the purpose of attacking the
Yankee trade which for so many years has been in the hands of Lea &
Perrins. The business is well managed by the two managing directors, who
have been in the firm since it was promoted. The alterations in the
balance-sheet are not of any moment. Quick assets total £151,557 when
liabilities have been met, and the assets have earned 7-1/2 per cent on
their book value--not a very splendid profit for a sauce.
JAMES HINKS & SON
This famous firm of lamp makers should benefit largely by the complete
absence of German competition all over the world, and the eleven months
show the satisfactory profit of £13,595. The dividend for the previous
thirteen months was only 6 per cent, but the report now issued declares
10 per cent and a bonus of 1s. 6d., or 17-1/2 per cent--a record
distribution. Also £2,250 is placed to reserve and the carry forward is
raised from £3,603 to £6,399. As long as the War lasts we may expect
this remarkable prosperity to continue. The reserves are now in excess
of the capital. The company has earned 7-1/2 per cent on the book value
of its assets, which, in spite of goodwill and patents having been
written off, looks as though they were fully valued at £179,765. The
shares are a fair industrial speculation.
12. _The Manchester Guardian_, June 19, 1916:
While everybody knows that the immense disbursements on the War have led
to a greater demand for labour than it is possible to meet at present
and that employers have done well, in spite of their difficulties, it is
perhaps not generally known how greatly the profits of nearly all the
public companies have increased during the last year. They have had to
pay higher wages in many cases, though not in all, their materials have
been much more costly, and their foreign trade has been hampered by
restrictions, in furtherance of the policy of preventing the enemy from
getting goods which he requires and which it is in our power to control.
Many, however, have done a large business for Allied Governments as well
as our own, especially in army equipment, and the demand for coal has
been greater than our power of supplying it. All our production has
commanded high prices, and profit margins have in most cases been very
large. It is a way that chairmen of companies have to take big profits
as being in the natural order of things, and dwell mostly on the
difficulties which have prevented them from showing even better results.
If this has obscured the real state of affairs it is desirable that the
other side of the picture should be clearly presented, for it is
impossible to understand the economic side of the War without a thorough
comprehension of its industrial effects.
We give below a tabular statement of profits which have been declared
this year, with the figures for two preceding years added so as to show
their true significance. Some are gross and others net profits, but in
this we have simply followed the methods adopted by the directors in
their reports, that being in practice the only way of showing how the
comparison stands. In some cases the capital has been increased during
the three years, but the extent to which that has occurred does not
affect the tables if they are regarded comprehensively. Some did very
badly in the first few months of the war, and the profits they declared
in 1915 look very small in comparison with those in the first column of
the tables. In those cases the third column will act as a corrective,
for in the main it shows the companies' normal earnings. It will be
noticed that some of these were very small. Here and there the company
was in the development stage, but as a rule it may be taken that the
concern was not a very profitable one in peace times. Possibly it was
over-capitalised, or over-weighted with debentures, or its plant was out
of date, or it could not get sufficient business to make full use of its
productive capacity. We shall not attempt the invidious task of singling
out which come in these categories, but we call attention to the cases
in which small pre-war profits have been converted into large ones since
because they are really the most instructive of the whole series.
For very large increases upon profits which were already good the most
notable are the shipping companies. Our list is typical rather than
exhaustive. Some of the small concerns, with only one ship, or up to
half a dozen, have done better relatively than several of the big lines,
as they were more at liberty to take advantage of the big freight-rates
which were going. We have not set these out, however, because it does
not appear to be necessary. The dividends in virtually all cases have
been substantial, and in some cases very large indeed. It would be
useless, however, to show these in tables, as some of the leading
companies use reserves greatly exceeding their nominal capital, and
quite a number have devoted a larger proportion of their profits to
strengthening their position than to the payment of dividends. In the
case of the Moor line we are unable to give the amount of the profit
reported last year, as the balance-sheets are not issued publicly,
although we have been favoured with them occasionally.
Coal, iron, engineering companies and shipbuilding companies are
bracketed together because so many of them are concerned in at least two
of those fields of industry. As our table shows, they have had a great
revival, many having been used by the Government, while all have felt
the effect of the great demand for munitions. The miscellaneous list
offers an interesting field of study, and the rubber and tea companies'
results are in some respects more striking still. We have only given a
selection of these, but they suffice to show that rubber and tea have
been very profitable since the War began. An appeal was made some time
ago with a view to the "young" rubber companies being relieved of the
excess profits tax, but our list shows how unnecessary it was to make
any special concession to the industry they represent. In the last two
months a great many of the companies have indicated that they were
setting some thousands of pounds aside for the tax.
Among the other concerns which have announced their appropriations to
meet the excess profits tax the most notable one that we recall is the
British Oil and Cake Mills Company, which expected to have to pay
£225,000. The Nitrate Producers' Steamship Company is putting £200,000
to a reserve for the excess profits duty and income tax. Most of the big
companies have provided for the tax before striking the profit balance,
and as this is strictly correct it would hardly be fair to say that they
have concealed part of their profits. The figures would have been more
striking, however, if the gross sums had been given. As we read the
White Star line's figures they indicate that the company has had to pay
much more than the British Oil and Cake Mills Company, but the Cunard
line has probably had to pay much less.
The amount payable in any given case is the excess over the pre-war
standard, which is fixed by taking the best two of the three immediately
preceding years. Speaking generally, the companies do not appear to have
hurried in their payment of the tax. For the year ended March last the
total yield was estimated at £6,000,000, but the actual sum received was
only £140,000, and the £6,000,000 has not been got yet, the yield from
April 1 to June 10 being only £3,556,000. A sharp increase is bound to
come, however, in the course of the financial year. The Chancellor of
the Exchequer expects to get £86,000,000 in excess profits tax and
munitions levies by the end of March next, and he cannot possibly have
made so enormous a mistake as the receipts to date would suggest if we
did not know that thousands of firms have still to pay very considerable
sums.
In the tables appended the years at the tops of columns are those in
which the profits mentioned were announced. A large proportion of the
results shown in the 1916 columns are for the year ended December last.
Some, however, are for years which have ended since then, while a few,
relating to companies which carry on business abroad, are for years
which began soon after the outbreak of the War:--
SHIPPING
1916 1915 1914
£ £ £
British and African 94,388 64,464 41,357
Booth Line 328,127 225,267 154,828
China Mutual 591,005 286,725 381,729
Court 137,446 25,034 23,890
Cunard 1,579,170 1,286,948 1,187,831
Cairn 152,152 85,988 102,318
Elder, Dempster 349,444 326,122 307,605
Eagle Oil Transport 325,928 302,897 92,866
Elder 66,266 55,305 38,975
Field 71,393 11,881 --
France, Fenwick 179,100 64,900 76,800
Gulf 188,093 39,436 65,014
Houlder Bros 118,802 95,587 102,893
Indo-China 109,089 16,020 45,364
India Gen 65,738 41,974 118,379
King 102,319 17,426 90,392
Leyland (Fredk.) 1,441,690 620,839 589,810
Lamport & Holt 332,897 149,108 200,691
London & Northern 586,299 118,419 135,541
Mercantile 259,159 93,391 129,946
Moor 335,349 -- 254,000
Neptune 146,718 73,310 112,563
Nitrate Producers 381,599 134,826 125,990
Pool 601,338 118,000 --
Pyman 165,078 72,504 62,413
Royal Mail 808,731 98,232 436,470
Redcroft 117,953 13,125 21,396
Sutherland 295,220 74,841 41,779
White Star 1,968,285 887,548 1,121,268
COAL, IRON AND ENGINEERING
Albion Steam Coal 44,536 36,820 24,094
Arrol (Sir W.) & Co 119,060 49,756 51,096
Brown, Bayley's Steel 32,017 1,578 29,758
Barrow Hematite 119,377 51,518 104,664
British Aluminium 180,057 156,066 154,488
Beyer, Peacock 54,177 109,783 87,843
British Westinghouse 176,752 151,627 106,494
Brit.Ins. & Helsby 295,131 277,428 247,351
Bell Bros 145,360 45,969 128,736
Bessemer (Hy.) 55,348 35,826 23,308
Cammell, Laird 303,841 237,899 174,126
Cory (W.) and Son 453,136 215,328 313,906
Cargo Fleet 162,276 131,142 124,219
Callender's Cable 113,266 98,692 91,861
Carlton M. Colliery 188,545 128,413 177,025
Clayton & Shuttleworth 72,787 44,643 53,496
Consolidated Cambrian 185,139 140,097 147,648
Crossley Bros 65,337 15,347 42,517
D. Davis 200,127 215,744 217,970
Dorman, Long 404,524 237,579 257,863
Edinburgh Collier's 64,807 17,420 63,969
Fife Coal 224,058 89,866 --
Gt. West. Colliery 137,008 111,821 158,420
Hadfields 265,403 139,301 109,513
Henley's Tel 153,224 112,898 106,380
Howard & Bullough 136,152 32,766 163,066
Jessop (W.) & Sons 103,726 60,354 87,343
Knowles (A.) & Sons 47,199 18,329 29,140
Leyland Motors 252,107 85,037 --
Lysaght (John) 414,764 313,707 330,576
Locket's Merthyr Colleries 45,635 6,229 22,238
Met'n Carriage 372,140 321,091 365,739
Newton, Chambers 60,669 4,182 89,523
N. B. Locomotive 174,241 160,644 140,889
North's Nav. Coal 130,071 65,578 100,144
Parkgate Iron 107,344 66,643 85,169
Projectile 194,136 30,739 18,880
Powell Duffryn 438,799 422,204 364,421
Pease & Partners 435,772 248,216 385,975
Rhymney Iron 127,733 52,488 131,901
S. Durham Steel 239,868 150,257 302,955
Shelton 109,554 63,465 81,185
Stewarts & Lloyds 256,308 233,420 246,065
Swan, Hunter, etc 305,083 217,498 264,124
United Collieries 216,065 57,600 100,503
Wigan Coal, etc 143,288 44,829 138,118
MISCELLANEOUS
Angus (Geo.) & Co 54,461 43,574 32,123
Burmah Oil 1,413,170 1,411,279 1,363,389
Bradford Dyers 568,623 387,923 430,081
Bleachers' Association 416,394 197,835 423,416
Bryant and May 115,159 101,616 90,158
Broxburn Oil 46,729 22,252 57,046
British Cotton and Wool
Dyers 93,524 42,297 9,290
Brunner, Mond 1,011,590 799,322 769,343
Bovril 168,796 137,584 119,813
Buttons 63,297 38,880 32,834
Borax Consolidated 205,825 195,449 235,285
Barlow & Jones 46,798 38,936 33,584
British Oil, etc., Mills 243,110 111,203 116,541
British and Argentine Meat 651,289 67,288 --
Curtis's & Harvey 143,830 77,754 48,117
Courtaulds 741,668 520,349 474,154[89]
Calico Prin. (half yr.) 176,521 -- 55,495
E. Velvet, etc., Dyers 70,833 61,161 72,467
Fore St. Warehouse 48,957 28,597 --
Forestal Land 900,947 234,065 383,362
Fine Spinners 535,854 391,057 613,415
Gas Light & Coke 604,314 449,510 522,710
Hollins (W.) & Co 105,639 65,786 65,986
Henry (A. and S.) 249,713 104,098 122,528
Imperial Tobacco 3,699,891 3,533,360 3,354,476
Lever Bros 1,265,933 1,152,107 988,238
Linen Thread 257,418 188,773 189,142
Lennards 41,300 34,457 30,377
Lister and Co 133,874 94,403 151,458
Lyons (J.) & Co 278,293 276,403 353,303
Maypole Dairy 528,274 488,026 489,643
Mandleberg (J.) 74,506 52,049 57,964
Pumpherston Oil 134,927 74,010 140,025
Rylands & Sons (half yr.) 120,032 55,179 --
Rotherham (Jer.) 104,925 74,638 59,692
Salt Union 140,524 89,443 82,791
Sears (J.) & Co 82,070 65,032 57,061
Stead & Simpson 59,898 32,762 30,357
Samnuggur Jute 299,829 44,307 86,574
Spillers & Bakers 217,416 367,866 89,351
United Alkali 341,986 217,081 193,604
Winterbottom Book Cloth 171,191 119,795 165,213
Webley & Scott 61,277 16,376 9,511
Whiteaway, Laidlaw 131,577 107,952 129,790
Watson (Joseph) 122,001 89,290 103,999
Young's Paraffin 47,953 24,139 80,152
RUBBER, &c.
1916 1915 1914
£ £ £
Anglo-Malay 121,224 76,931 104,583
Assam-Dooars 51,674 22,269 --
Amalgamated Tea 157,818 98,176 78,787
Batu Tiga 56,293 22,315 24,762
Bukit Sembawang 33,989 14,344 6,090
Consolidated Tea 479,815 289,262 247,633
Chersonese 59,602 35,019 29,081
Ceylon Tea 163,899 108,300 93,900
Damansara 48,680 30,580 29,081
Eastern Produce 126,406 71,724 69,004
Grand Central 248,201 132,019 87,554
Highlands & Lowlands 108,343 75,425 79,079
Jorehaut Tea, 64,508 43,204 34,088
Jhanzie Tea 35,881 17,286 15,113
Klanang 37,918 20,458 24,257
Kuala Selangor 47,748 42,013 32,798
Kanan Devan 208,612 120,119 106,909
Linggi 125,739 78,899 83,746
Lunuva 32,994 12,599 12,602
Malacca 252,006 144,224 131,156
Nuwara Eliya 49,915 21,921 --
Nordanal 39,658 36,686 49,344
Panawatte Tea 38,167 23,833 --
Rub. Est., Johore 42,703 22,541 10,931
Rani Travancore 63,791 35,349 32,259
Singlo Tea 68,857 36,166 31,449
Sungei Way 38,532 36,533 25,624
Straits 157,678 164,750 185,426
Sungei Kapar 59,966 39,426 42,364
Selangor 55,457 58,007 41,940
Seremban 43,410 24,198 22,471
Sunnygama 63,688 43,142 31,931
13. _The New Witness_, June 22, 1916:
The Tenth Ordinary General Meeting of the Forestal Land, Timber, and
Railways Co. (Ltd.) was held on Friday last, at Winchester House, E.C.,
Baron Emile B. d'Erlanger (chairman of the company), presiding.
The chairman said that the share capital remained unaltered, and the
debenture debt had only been decreased by the yearly amortisation. No
less than £143,600 had been added to the depreciation account, making it
£634,170. Credit balances had swollen by the sum of £175,589. The profit
on the year was £900,947, as against £234,064 last year. On the credit
side, properties stood at £4,405,917, and had increased by the new
properties acquired. The live stock stood at £34,000 less than last
year, due to a smaller stock of "Invernada" cattle. The stocks of
extract and felled timber had risen by £115,000, principally owing to a
larger stock of felled timber. Debit balances had risen to £156,000. In
the profit and loss account the trading profit was £1,281,299, as
compared with £614,879 last year, and, after deducting London charges,
debenture interest, depreciation, and legal reserve, there was left a
profit of £900,947.
14. _The Westminster Gazette_, July 15, 1916:
The accounts of the W. and C. T. Jones Steamship Company, Limited, of
Cardiff, for the year ended June 30, show that, with a fleet of thirteen
steamers, £524,855 profit has been earned, representing 187 per cent on
the capital of £280,000.
The previous year's earnings were £87,105.
A dividend of 15 per cent, making, with 10 per cent interim dividend, 25
per cent for the year, free of income tax, is declared.
15. _The New Statesman_, July 1, 1916:
The prolonged debate in the House of Commons on the Excess Profits Tax
ended on Monday in a vote which found Mr. McKenna's critics in a small
though substantial minority. The point actually at issue was not very
simple, and in spite of repeated explanations several of the most
persistent speakers never grasped it. The demand was that all
"controlled establishments" should be exempt from the excess profits tax
in consideration of the patriotic services they were rendering to their
country and of the "bargain" alleged to have been concluded with the
Ministry of Munitions whereby any profits they may make in excess of 20
per cent above their normal profits are in any event taken by the State.
This meant, of course, that a controlled firm which made a profit of
£50,000 in 1914, and of £60,000 (due to war contracts) in 1916, would
retain the whole of their excess profits without reduction. Mr. McKenna
argued that such firms, having the advantages of practically compulsory
labour and freedom from Trade Union restrictions, ought, at any rate,
not to be let off more lightly than uncontrolled firms. It is amazing
that such a proposition should have to be stated at all.
The point of view of the ordinary member of the public undoubtedly is
that excess profits on the making of munitions simply ought not to
exist. If engineering firms are permitted to maintain their old standard
of profit and dividend (with fair arrangements, of course, for new
capital and depreciation), they ought to be more than satisfied. Great
heat was developed on the debate by the representatives of various
capitalist interests, notably Sir Arthur Markham, Mr. J. M. Henderson,
Sir Croydon Marks, and Sir Alfred Mond; and some of them were not even
ashamed to hint that if their demands were not agreed to there might be
a diminution of output. At a moment when tens of thousands of men are
giving up their whole incomes as well as their savings, in order to
fight for their country, it is impossible to imagine any spectacle more
unedifying for the wage-earning class than that of these malcontent
capitalist legislators angrily fighting for their extra war-profits.
When one remembers that it was these same gentlemen who were so
enthusiastic for compelling younger and poorer men to sacrifice
everything they possess, it is hard to find words to say what ought to
be said of them. We hope, at all events, that the names of those who
voted against the Government on the division will not be allowed to be
forgotten in the constituencies.
16. _Pall Mall Gazette_, January 31, 1916:
_From Our Own Correspondent._
PARIS, _Saturday_.
The trouble that has been brewing for months past at the Central Markets
has now come to a head. A well-known dealer was suspended by the Prefect
of Police; the Home Office thought this insufficient and revoked his
licence; and there is now talk of a prosecution.
The Central Markets are not a place which the habitual Parisian cares to
venture into. Apart from its own peculiar and particularly pungent
odours, the markets are peopled with a class of stallkeeper who do not
exactly keep their tongue in their pocket, as the French say. They have,
in fact, a flow of language, and it requires a brave man to make a stand
against it--and all the brave men are at the front just now.
But the Central Markets not only have a language of their own; they have
ways and methods of dealing that require long years of acquaintance to
fathom, so only experts venture to make head or tail of them.
All this means that between the Central Markets, at the depository, and
most of all that Paris wants to eat, and the actual consumer as
represented by the ordinary housewife starting out on her daily round of
shopping, there move and live a host of intermediaries. Large as their
number is, they cannot compare with the middlemen who squeeze in between
the Central Markets and the actual grower, breeder, or producer.
With so many hands for produce to pass through, each one eager to grab
all that it can for itself before it passes the stuff along, it is small
wonder that prices grow, not taking into account the burden of taxes and
other charges the goods have to bear on their journey from the farm to
the household.
ARMY OF INSPECTORS
The police have an army of inspectors for watching and superintending
the work of the markets. The rules drawn up for their regulation would
more than fill an old-fashioned three-volume novel, and each one
provides for penalties severer and stricter than the other. Yet the
profitable game of rigging the market and everything connected with it
is in full swing, and no one is more fooled than the police, unless it
be the public.
Since the war broke out, the State, the city, and the public alike,
backed up by the small retail trader, have done their best to get even
with the Central Markets. The more they try to put things right the
worse they seem to get. Prices appear to ease for a brief space, but
they soon become inflated once more. Or, if they do not, the particular
commodity concerned simply disappears in some mysterious fashion until
the "powers that be" submit to the inevitable, and shut their eyes to
scheming they are helpless to prevent.
AS MUCH FOOD AS USUAL
The worst of it is that statistics can always be produced to show that
the rise in prices is purely and simply the outcome of a falling off in
supplies. Arrivals of fruits, vegetables, and fish in the last quarter
of the past year were exactly half the average supply of an ordinary
year; eggs were two-thirds below the proper figures, meat some 4,000
tons short, butter six tons, cheeses only a ton.
Of course, the population of the city has diminished also to a certain
extent, but not so much as might be expected considering that there is
practically no single family that has not one or more members at the
front.
They have been replaced by refugees, sick and wounded soldiers, huge war
administrations of one kind and another. Paris consequently wants almost
as much feeding as in ordinary times, not taking any account of the fact
that portions of both the British and French Armies still buy provisions
on the Paris markets.
Notwithstanding the legitimate reasons that can be put forward to
explain the upward trend of prices, the authorities know well enough
that all is not so innocent and above board as it appears. One or two
more glaring instances than usual of manipulation have put them on the
right track at last. Other steps may also be expected, for public
opinion has got to the point that either the "inside ring" must be
broken up or popular resentment will take a form that no Government can
afford to overlook or affect to ignore.
17. _The Daily News_, August 16, 1915:
A YEAR OF ECONOMIC WAR
The _Vorwaerts_, without boasting, as Dr. Helfferich has been doing, of
Germany's financial invincibility, yet sees cause for satisfaction in
the economic condition of the Empire after twelve months of war.
The upheaval of the first week of war was indeed serious, and the grim
spectre of unemployment was in the air. But it was soon laid.
The best results were obtained in the sphere of unemployment. At the
beginning of the war it was about 22-1/2 per cent, in October only 10·9
per cent, and in May it had further sunk to 2·9 per cent. The figures
for June were 2·6 per cent as against 2·5 per cent in the previous
June.... Similarly the daily output of coal of the Rhenish Westphalian
Coal Syndicate, which in July, 1914, reached 327,974 tons, sank in
August to 170,816 tons, in September rose again to 211,995, and in
October to 223,760, the figures for that month being 60 per cent of
those of the previous October.... In later months, in spite of the
calling up of more and more workers, it has only been 25 to 27 per cent
below the normal.
The writer tells the same story of the iron and textile industries, and
traces the good results to the fact that the supplies of raw materials
were far greater than had been thought. For instance, there were about
700,000 bales of cotton more than are needed in a normal year. Besides
which the stores of conquered countries were at the disposal of the
conquerors. The only trades which really suffered were those in
luxuries.
The article concludes thus:
The German trade has survived the shocks of the first year of war
better than the most convinced optimist could have hoped, and
better than the organisation of other belligerents. All fears of
immediate inevitable industrial collapse which haunted us at the
beginning of the war have been dissipated. Instead of this we meet
in all industrial circles with the consciousness [often much
exaggerated] that "We can endure."
The words in brackets are significant.
18. _Pall Mall Gazette_, November 10, 1916:
LIVING ON WAR
KRUPPS' PROFIT JUMPS FROM 1-1/2 MILLIONS TO 4-1/2
AMSTERDAM, _Tuesday Night_.
An Essen telegram states that the clear profit last year of Krupps
amounted to 86,400,000 marks (£4,320,000), as compared with a profit of
33,900,000 marks (£1,695,000) in the preceding year. A dividend of 12
per cent has been distributed.--Reuter.
_19. Pall Mall Gazette:_
GERMAN DIVIDENDS
ECONOMIC POSITION OF SOME OF HER COMPANIES
The 1914 dividends of over sixty limited companies, nearly all German,
and the remainder Austrian, show that in the case of sixteen companies
the dividends amounted to 20 per cent or over, the average being 25-3/16
per cent. These companies (says the _Morning Post_) are mainly engaged
in the production of leather, dynamite, explosives, india-rubber, arms,
ammunition, and powder. In one case, that of an explosives company in
Hamburg, the dividend attained 40 per cent.
Germany is still barring the Swiss frontier, and for the last five days
the German post arrived at Berne very late or not at all, thus pointing
to great activity in military matters beyond the German-Swiss frontier.
As further proof, if proof were needed, of the sufficiency of Germany's
food supplies, it is pointed out that she now offers to send to
Switzerland large quantities of potatoes.
20. _The Times_, July 5, 1916:
WAR PROFIT-MONGERS IN RUSSIA
_From our Correspondent._
PETROGRAD, _July 2_.
The clergy will to-morrow publicly anathematise the "freebooters of the
rear," who are amassing huge fortunes at the expense of the public.
21. _The Westminster Gazette_, Aug. 28, 1916:
GERMAN WAR SCANDALS
700 PER CENT PROFIT FOR EAST PRUSSIAN LANDOWNERS
ZURICH, _Sunday_.
Details of several recent corrupt affairs which have come to light in
Germany have reached Switzerland.
At Mainz a timber merchant was arrested for bribing army officers to
secure contracts for his firm. The official investigation revealed that
he had paid a total of £50,000 in bribes to army officers. Some of the
individual bribes were as high as £2,500. This timber merchant, who was
almost a poor man before the war, has accumulated in two years a fortune
which compelled him to pay income-tax on an income of £25,000 per annum.
Another scandalous affair was discovered in Herr von Batocki's new
Imperial Food Department. One of his officials, Bernot by name, was
bribed by numerous East Prussian landowners to have the crops from their
estates bought by the Government at exorbitant prices. Bernot pocketed
some £15,000, and the landowners in question sold their wheat at a
profit of 700 per cent.--Wireless Press.
FOOTNOTES:
[Footnote 89: Net loss of £276,560 in first half 1914-15.]
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Prospectuses, &c, of new and forthcoming books from Number Five John
Street will send their names and addresses to him for this purpose. Any
book in this list may be obtained on approval through the booksellers,
or direct from the Publisher, on remitting him the published price, plus
the postage.
All prices indicated in this Catalogue are NET.
MARTIN SECKER Publisher Number Five John Street Adelphi London
Telephone Gerrard 4779 Telegraphic Address: Psophidian London_
Martin Secker's Catalogue
PART ONE INDEX OF AUTHORS
ABERCROMBIE, LASCELLES
SPECULATIVE DIALOGUES. _Cr. 8vo. 5s._
HARDY: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
THE EPIC
(_The Art and Craft of Letters_). _F'cap 8vo. 1s._
AFLALO, F. G.
BEHIND THE RANGES. _Wide Demy 8vo. 10s. 6d._
REGILDING THE CRESCENT. _Demy 8vo. 10s. 6d._
BIRDS IN THE CALENDAR. _Crown 8vo. 3s. 6d._
ALLSHORN, LIONEL
STUPOR MUNDI. _Medium Octavo. 16s._
APPERSON, G. L.
THE SOCIAL HISTORY OF SMOKING. _Post 8vo. 6s._
ARMSTRONG, DONALD
THE MARRIAGE OF QUIXOTE. _Crown 8vo. 6s._
ARTZIBASHEF, MICHAEL
SANINE. _Preface by Gilbert Cannan._ _Crown 8vo. 6s._
BREAKING-POINT. _Crown 8vo. 6s._
THE MILLIONAIRE.
_Intro. by the Author._ _Crown 8vo. 6s._
TALES OF THE REVOLUTION. _Crown 8vo. 6s._
BARRINGTON, MICHAEL
GRAHAME OF CLAVERHOUSE. _Imperial 8vo. 30s._
_Edition de Luxe _63s._
BENNETT, ARNOLD
THOSE UNITED STATES. _Post 8vo. 2s. 6d._
BLACK, CLEMENTINA
THE LINLEYS OF BATH. _Medium 8vo. 16s._
THE CUMBERLAND LETTERS. _Med. 8vo. 16s._
BOULGER, D. C.
THE BATTLE OF THE BOYNE. _Med. 8vo. 21s._
BROWN, IVOR
YEARS OF PLENTY. _Crown 8vo. 6s._
SECURITY. _Crown 8vo. 6s._
BURROW, C. KENNETT
CARMINA VARIA. _F'cap 8vo. 2s. 6d._
CALDERON, GEORGE (With St. John Hankin)
THOMPSON: A COMEDY. _Sq. Cr. 8vo. 2s._
CANNAN, GILBERT
BUTLER: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
SATIRE
(_Art and Craft of Letters_). _F'cap 8vo. 1s._
CHESTERTON, G. K.
MAGIC: A FANTASTIC COMEDY. _Sq. Cr. 8vo. 2s._
COKE, DESMOND
THE ART OF SILHOUETTE. _Demy 8vo. 10s. 6d._
CRAVEN, A. SCOTT
THE FOOL'S TRAGEDY. _Crown 8vo. 6s._
CROSLAND, T. W. H.
THE ENGLISH SONNET. _Demy 8vo. 7s. 6d._
COLLECTED POEMS. _Small 4vo. 7s. 6d._
WAR POEMS. _Crown 8vo._ 1s._
THE BOOK OF ENGLISH SONNETS.
(_Edited with an Introduction._) _Pott 8vo. 5s._
DAWSON, WARRINGTON
THE TRUE DIMENSION. _Crown 8vo. 6s._
DE SELINCOURT, BASIL
WHITMAN: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
RHYME
(_The Art and Craft of Letters_). _F'cap 8vo. 1s._
DOUGLAS, NORMAN
FOUNTAINS IN THE SAND. _Wide Dy. 8vo. 7s. 6d._
OLD CALABRIA. _Demy. 8vo. 15s._
SOUTH WIND. _Crown 8vo. 6s._
DRAYCOTT, G. M.
MAHOMET: FOUNDER OF ISLAM. _Dy. 8vo. 12s. 6d._
DRINKWATER, JOHN
MORRIS: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
ROSSETTI: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
THE LYRIC
(_The Art and Craft of Letters_). _F'cap 8vo. 1s._
FALLS, CYRIL
KIPLING: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
FEA, ALLAN
OLD ENGLISH HOUSES. _Demy 8vo. 10s. 6d._
NOOKS AND CORNERS OF OLD ENGLAND. _5s._
FLECKER, J. E.
COLLECTED POEMS. _Small 4to. 7s. 6d._
THE GOLDEN JOURNEY TO SAMARKAND. _5s._
FRANCIS, RENÉ
EGYPTIAN ÆSTHETICS. _Wide Demy 8vo. 7s .6d._
GRETTON, R. H.
HISTORY
(_The Art and Craft of Letters_). _F'cap 8vo. 1s._
HANKIN, ST. JOHN
THE DRAMATIC WORKS, with an Introduction by John Drinkwater.
_Small 4to. Definitive Limited Edition
in Three Volumes._ _25s._
THE RETURN OF THE PRODIGAL. _Sq. Cr. 8vo. 2s._
THE CASSILIS ENGAGEMENT. _Sq. Cr. 8vo. 2s._
HANKIN, ST. JOHN (_continued_)
THE CHARITY THAT BEGAN AT HOME. _2s._
THE CONSTANT LOVER, ETC. _Sq. Cr. 8vo. 2s._
HAUPTMANN, GERHART
THE COMPLETE DRAMATIC
WORKS. _6 vols. Crown 8vo. 5s. per volume._
HEWLETT, WILLIAM
TELLING THE TRUTH. _Crown 8vo. 6s._
UNCLE'S ADVICE: A NOVEL IN LETTERS. _Cr. 8vo. 6s._
THE CHILD AT THE WINDOW. _Crown 8vo. 6s._
INTRODUCING WILLIAM ALLISON. _Crown 8vo. 6s._
HORSNELL, HORACE
THE BANKRUPT. _Crown 8vo. 6s._
HOWE, P. P.
THE REPERTORY THEATRE. _Cr. 8vo. 2s. 6d._
DRAMATIC PORTRAITS. _Crown 8vo. 5s._
SHAW: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
SYNGE: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
CRITICISM
(_The Art and Craft of Letters_). _F'cap 8vo. 1s._
HUEFFER, FORD MADOX
JAMES: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
COLLECTED POEMS. _Demy 8vo. 6s._
IBSEN, HENRIK
PEER GYNT. A New Translation
by R. Ellis Roberts. _Wide Crown 8vo. 5s._
JACOB, HAROLD
PERFUMES OF ARABY. _Wide Demy 8vo. 7s. 6d._
JAMES, HENRY
THE TURN OF THE SCREW.
THE LESSON OF THE MASTER.
THE DEATH OF THE LION.
THE ASPERN PAPERS.
DAISY MILLER.
THE COXON FUND.
JAMES, HENRY (continued)
THE REVERBERATOR.
THE ALTAR OF THE DEAD.
THE BEAST IN THE JUNGLE.
THE FIGURE IN THE CARPET.
GLASSES.
THE PUPIL. _Each F'cap 8vo. 2s. 6d._
JOHNSON, OWEN
THE SALAMANDER. _Crown 8vo. 6s._
MAKING MONEY. _Crown 8vo. 6s._
LAMONT, L. M.
A CORONAL: AN ANTHOLOGY. _F'cap 8vo. 2s. 6d._
LEWISOHN, L.
THE MODERN DRAMA. _Crown 8vo. 5s._
LLUELLYN, RICHARD
THE IMPERFECT BRANCH. _Crown 8vo. 6s._
LOW, IVY
THE QUESTING BEAST. _Crown 8vo. 6s._
LYNCH, BOHUN
UNOFFICIAL. _Crown 8vo. 6s._
THE COMPLETE GENTLEMAN. _Crown 8vo. 6s._
McFEE, WILLIAM
CASUALS OF THE SEA. _Crown 8vo. 6s._
MACHEN, ARTHUR
HIEROGLYPHICS. _F'cap 8vo. 2s. 6d._
MACKENZIE, COMPTON
THE PASSIONATE ELOPEMENT. _Cr. 8vo. 6s. and 2s._
CARNIVAL. _Crown 8vo. 6s. and 2s._
SINISTER STREET. Volume I. _Cr. 8vo. 6s. and 2s._
SINISTER STREET. Volume II. _Crown 8vo. 6s._
GUY AND PAULINE. _Crown 8vo. 6s._
KENSINGTON RHYMES. _Crown 4to. 5s._
MAVROGORDATO, JOHN
LETTERS FROM GREECE. _F'cap 8vo. 2s._
CASSANDRA IN TROY. _Small 4to. 5s._
THE WORLD IN CHAINS _Crown 8vo. 2s._
MELVILLE, LEWIS
SOME ECCENTRICS AND A WOMAN. _Dy. 8vo. 10s. 6d._
METHLEY, VIOLET
CAMILLE DESMOULINS: A Biography. _Dy. 8vo. 15s._
MEYNELL, VIOLA
LOT BARROW. _Crown 8vo. 6s._
MODERN LOVERS. _Crown 8vo. 6s._
COLUMBINE. _Crown 8vo. 6s._
NARCISSUS. _Crown 8vo. 6s._
MURRY, J. MIDDLETON
DOSTOEVSKY: A Critical Study. _Dy. 8vo. 7s. 6d._
NORTH, LAURENCE
IMPATIENT GRISELDA _Crown 8vo. 6s._
THE GOLIGHTLYS: FATHER AND SON. _Cr. 8vo. 6s._
ONIONS, OLIVER
WIDDERSHINS. _Crown 8vo. 6s. and 2s._
IN ACCORDANCE WITH THE EVIDENCE. _Cr. 8vo. 6s._
THE DEBIT ACCOUNT. _Crown 8vo. 6s._
THE STORY OF LOUIE. _Crown 8vo. 6s._
PAIN, BARRY
ONE KIND AND ANOTHER. _Cr. 8vo. 6s. and 2s._
COLLECTED TALES: Volume I. _Medium 8vo. 5s._
COLLECTED TALES: Volume II. _Medium 8vo. 5s._
THE SHORT STORY
(_The Art and Craft of Letters_). _F'cap 8vo. 1s._
PALMER, JOHN
PETER PARAGON. _Crown 8vo. 6s._
THE KING'S MEN. _Crown 8vo. 6s._
COMEDY
(_The Art and Craft of Letters_). _F'cap 8vo. 1s._
PERUGINI, MARK E.
THE ART OF BALLET. _Demy 8vo. 15s._
PHILIPS, AUSTIN
BATTLES OF LIFE. _Crown 8vo. 6s._
PRESTON, ANNA
THE RECORD OF A SILENT LIFE. _Crown 8vo. 6s._
REID, FORREST
YEATS: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
ROBERTS, R. ELLIS
IBSEN: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
PEER GYNT: A NEW TRANSLATION. Cr. 8vo. 5s._
SABATINI, RAFAEL
THE SEA-HAWK. _Cr. 8vo. 6s. and 2s._
THE LION'S SKIN. _Crown 8vo. 2s._
THE BANNER OF THE BULL. _Crown 8vo. 6s._
THE SNARE. _Crown 8vo. 6s._
SAND, MAURICE
THE HISTORY OF THE HARLEQUINADE.
_Two Volumes._ _Med. 8vo. 25s. the set._
SCOTT-JAMES, R. A.
PERSONALITY IN LITERATURE. Demy 8vo. 7s. 6d._
SIDGWICK, FRANK
THE BALLAD (_Art and Craft of Letters_). _1s._
SIMMS, EVELYN
A VISION OF CONSOLATION. _Crown 8vo. 1s._
THE CROWNING PURPOSE. _Crown 8vo. 1s._
SOLOGUB, FEODOR
THE OLD HOUSE. _Crown 8vo. 6s._
THE LITTLE DEMON. _Crown 8vo. 6s._
THE CREATED LEGEND. _Crown 8vo. 6s._
SQUIRE, J. C.
GEORGIAN POETS. _Crown 8vo. 5s._
TRICKS OF THE TRADE. _Crown 8vo. 2s. 6d._
THE GOLD TREE. Demy 8vo. 7s. 6d._
STONE, CHRISTOPHER
THE BURNT HOUSE. _Crown 8vo. 6s._
PARODY (_Art and Craft of Letters_). _1s._
STRAUS, RALPH
CARRIAGES AND COACHES. _Med. 8vo. 18s._
SWINNERTON, FRANK
GISSING: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
STEVENSON: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
SWINNERTON, FRANK (_continued_)
NOCTURNE.
THE CHASTE WIFE. _Each Cr. 8vo. 6s._
TAYLOR, G. R. STIRLING
_Mary Wollstonecraft._ Demy 8vo. 7s. 6d._
TAYLOR, UNA
MAETERLINCK: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
THOMAS EDWARD
SWINBURNE: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
PATER: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
THE TENTH MUSE. _F'cap 8vo. 2s. 6d._
VAUGHAN, H. M.
MELEAGER. _Crown 8vo. 6s._
THE DIAL OF AHAZ. _Crown 8vo. 6s._
AN AUSTRALASIAN WANDER-YEAR. _Dy. 8vo. 10s. 6d._
WALPOLE, HUGH
FORTITUDE. _Crown 8vo. 6s._
THE DUCHESS OF WREXE. _Crown 8vo. 6s._
THE DARK FOREST. _Crown 8vo. 6s._
WEST, JULIUS
CHESTERTON: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
WILLIAMS, ORLO
VIE DE BOHÈME. _Demy 8vo. 15s._
MEREDITH: A CRITICAL STUDY. _Dy. 8vo. 7s. 6d._
THE ESSAY (_The Art and Craft of Letters_). _1s._
YOUNG, FILSON
NEW LEAVES. _Wide Crown 8vo. 5s._
A CHRISTMAS CARD. _Demy 16mo. 1s._
YOUNG, FRANCIS BRETT
DEEP SEA. _Crown 8vo. 6s._
THE DARK TOWER. _Crown 8vo. 6s._
THE IRON AGE. _Crown 8vo. 6s._
FIVE DEGREES SOUTH _Crown 8vo. 1s._
YOUNG, F. & E. BRETT
UNDERGROWTH. _Crown 8vo. 6s._
BRIDGES: A CRITICAL STUDY. _Dy. 8vo 7s. 6d._
PART TWO: CLASSIFIED INDEX OF TITLES
_General Literature_
ART OF BALLET, THE. _By Mark E. Perugini._
ART OF SILHOUETTE, THE. _By Desmond Coke._
BATTLE OF THE BOYNE, THE. _By D. C. Boulger._
BEHIND THE RANGES, _By F. G. Aflalo._
BIRDS IN THE CALENDAR. _By F. G. Aflalo._
CAMILLE DESMOULINS. _By Violet Methley._
CARRIAGES AND COACHES. _By Ralph Straus._
CHRISTMAS CARD, A. _By Filson Young._
CUMBERLAND LETTERS, THE. _By Clementina Black._
DRAMATIC PORTRAITS. _By P. P. Howe._
ENGLISH SONNET, THE. _By T. W. H. Crosland._
GEORGIAN POETS. _By J. C. Squire._
GOLD TREE, THE. _By J. C. Squire._
GRAHAME OF CLAVERHOUSE. _By Michael Barrington._
HIEROGLYPHICS. _By Arthur Machen._
HISTORY OF THE HARLEQUINADE, THE. _By M. Sand._
LETTERS FROM GREECE. _By John Mavrogordato._
LINLEYS OF BATH, THE. _By Clementina Black._
MAHOMET. _By G. M. Draycott._
MARY WOLLSTONECRAFT. _By G. R. Stirling Taylor._
NEW LEAVES. _By Filson Young._
PERSONALITY IN LITERATURE. _By R. A. Scott-James._
REGILDING THE CRESCENT. _By F. G. Aflalo._
SOCIAL HISTORY OF SMOKING, THE. _By G. L. Apperson._
SOME ECCENTRICS AND A WOMAN. _By Lewis Melville._
SPECULATIVE DIALOGUES. _By Lascelles Abercrombie._
STUPOR MUNDI. _By Lionel Allshorn._
TENTH MUSE, THE. _By Edward Thomas._
TRICKS OF THE TRADE. _By J. C Squire._
THOSE UNITED STATES. _By Arnold Bennett._
VIE DE BOHÈME. _By Orlo Williams._
WORLD IN CHAINS, THE. _By J. Mavrogordato._
_Verse_
BOOK OF ENGLISH SONNETS, THE.
CARMINA VARIA. _By C. Kennett Burrow._
COLLECTED POEMS OF T. W. H. CROSLAND.
COLLECTED POEMS OF J. E. FLECKER.
COLLECTED POEMS OF F. M. HUEFFER.
CORONAL, A. A NEW ANTHOLOGY. _By L. M. Lamont._
CROWNING PURPOSE, THE. _By Evelyn Simms._
FIVE DEGREES SOUTH. _By F. Brett Young._
GOLDEN JOURNEY TO SAMARKAND, THE. _By J. E. Flecker._
KENSINGTON RHYMES. _By Compton Mackenzie._
VISION OF CONSOLATION, A. _By Evelyn Simms._
WAR POEMS BY 'X.'
_Drama_
DRAMATIC WORKS OF ST. JOHN HANKIN. _3 vols._
DRAMATIC WORKS OF GERHART HAUPTMANN. _6 vols._
CASSANDRA IN TROY. _By John Mavrogordato._
MAGIC. _By G. K. Chesterton._
MODERN DRAMA, THE. _By L. Lewisohn._
PEER GYNT. _Translated by R. Ellis Roberts._
REPERTORY THEATRE, THE. _By P. P. Howe._
THOMPSON. _By St. John Hankin and G. Calderon._
_Travel_
AUSTRALASIAN WANDER-YEAR, AN. _By H. M. Vaughan._
EGYPTIAN ÆSTHETICS. _By Rene Francis._
FOUNTAINS IN THE SAND. _By Norman Douglas._
NOOKS AND CORNERS OF OLD ENGLAND. _By Allan Fea._
OLD CALABRIA. _By Norman Douglas._
OLD ENGLISH HOUSES. _By Allan Fea._
PERFUMES OF ARABY. _By Harold Jacob._
_Martin Secker's Series of
Critical Studies_
ROBERT BRIDGES. _By F. & E. Brett Young._
SAMUEL BUTLER. _By Gilbert Cannan._
G. K. CHESTERTON. _By Julius West._
FYODOR DOSTOEVSKY. _By J. Middleton Murry._
GEORGE GISSING. _By Frank Swinnerton._
THOMAS HARDY. _By Lascelles Abercrombie._
HENRIK IBSEN. _By R. Ellis Roberts._
HENRY JAMES. _By Ford Madox Hueffer._
RUDYARD KIPLING. _By Cyril Falls._
MAURICE MAETERLINCK. _By Una Taylor._
GEORGE MEREDITH. _By Orlo Williams._
WILLIAM MORRIS. _By John Drinkwater._
WALTER PATER. _By Edward Thomas._
D. G. ROSSETTI. _By John Drinkwater._
BERNARD SHAW. _By P. P. Howe._
R. L. STEVENSON. _By Frank Swinnerton._
A. C. SWINBURNE. _By Edward Thomas._
J. M. SYNGE. _By P. P. Howe._
WALT WHITMAN. _By Basil de Selincourt._
W. B. YEATS. _By Forrest Reid._
_The Art and Craft of Letters_
BALLAD, THE. _By Frank Sidgwick._
COMEDY. _By John Palmer._
CRITICISM. _By P. P. Howe._
EPIC, THE. _By Lascelles Abercrombie._
ESSAY, THE. _By Orlo Williams._
HISTORY. _By R. H. Gretton._
LYRIC, THE. _By John Drinkwater._
PARODY. _By Christopher Stone._
SATIRE. _By Gilbert Cannan._
SHORT STORY, THE. _By Barry Pain._
_The Tales of Henry James_
ALTAR OF THE DEAD, THE.
ASPERN PAPERS, THE.
BEAST IN THE JUNGLE, THE.
COXON FUND, THE.
DAISY MILLER.
DEATH OF THE LION, THE.
FIGURE IN THE CARPET, THE.
GLASSES.
LESSON OF THE MASTER, THE.
PUPIL, THE.
REVERBERATOR, THE.
TURN OF THE SCREW, THE.
_Martin Secker's Series of
Two-Shilling Novels_
CARNIVAL. _By Compton Mackenzie._
SINISTER STREET: VOL. I. _By Compton Mackenzie._
THE PASSIONATE ELOPEMENT. _By Compton Mackenzie._
THE SEA-HAWK. _By Rafael Sabatini._
SANINE. _By Michael Artzibashef._
FORTITUDE. _By Hugh Walpole._
THE LION'S SKIN. _By Rafael Sabatini._
WIDDERSHINS. _By Oliver Onions._
ONE KIND AND ANOTHER. _By Barry Pain._
_Fiction_
BANKRUPT, THE. _By Horace Horsnell._
BANNER OF THE BULL, THE. _By Rafael Sabatini._
BATTLES OF LIFE. _By Austin Philips._
BREAKING-POINT. _By Michael Artzibashef._
BURNT HOUSE, THE. _By Christopher Stone._
CARNIVAL. _By Compton Mackenzie._
CASUALS OF THE SEA. _By William McFee._
CHASTE WIFE, THE. _By Frank Swinnerton._
COLLECTED TALES: VOL. I. _By Barry Pain._
COLLECTED TALES: VOL. II. _By Barry Pain._
COLUMBINE. _By Viola Meynell._
COMPLETE GENTLEMAN, THE. _By Bohun Lynch._
CREATED LEGEND, THE. _By Feodor Sologub._
DARK FOREST, THE. _By Hugh Walpole._
DARK TOWER, THE. _By F. Brett Young._
DEBIT ACCOUNT, THE. _By Oliver Onions._
DEEP SEA. _By F. Brett Young._
DIAL OF AHAZ, THE. _By H. M. Vaughan._
DUCHESS OF WREXE, THE. _By Hugh Walpole._
FOOL'S TRAGEDY, THE. _By A. Scott Craven._
FORTITUDE. _By Hugh Walpole._
GOLIGHTLYS, THE. _By Laurence North._
GUY AND PAULINE. _By Compton Mackenzie._
IMPATIENT GRISELDA. _By Laurence North._
IMPERFECT BRANCH, THE. _By Richard Lluellyn._
IN ACCORDANCE WITH THE EVIDENCE. _By O. Onions._
INTRODUCING WILLIAM ALLISON. _By William Hewlett._
IRON AGE, THE. _By F. Brett Young._
KING'S MEN, THE. _By John Palmer._
LION'S SKIN, THE. _By Rafael Sabatini._
LITTLE DEMON, THE. _By Feodor Sologub._
LOT BARROW. _By Viola Meynell._
MARRIAGE OF QUIXOTE, THE. _By Donald Armstrong._
MAKING MONEY. _By Owen Johnson._
MELEAGER. _By H. M. Vaughan._
MILLIONAIRE, THE. _By Michael Artzibashef._
MODERN LOVERS. _By Viola Meynell._
NARCISSUS. _By Viola Meynell._
NOCTURNE. _By Frank Swinnerton._
OLD HOUSE, THE. _By Feodor Sologub._
ONE KIND AND ANOTHER. _By Barry Pain._
PASSIONATE ELOPEMENT, THE. _By Compton Mackenzie._
PETER PARAGON. _By John Palmer._
QUESTING BEAST, THE. _By Ivy Low._
RECORD OF A SILENT LIFE, THE. _By Anna Preston._
SALAMANDER, THE. _By Owen Johnson._
SANINE. _By Michael Artzibashef._
SEA HAWK, THE. _By Rafael Sabatini._
SECURITY. _By Ivor Brown._
SINISTER STREET. I. _By Compton Mackenzie._
SINISTER STREET. II. _By Compton Mackenzie._
SNARE, THE. _By Rafael Sabatini._
SOUTH WIND. _By Norman Douglas._
STORY OF LOUIE, THE. _By Oliver Onions._
TALES OF THE REVOLUTION. _By M. Artzibashef._
TELLING THE TRUTH. _By William Hewlett._
TRUE DIMENSION, THE. _By Warrington Dawson._
UNCLE'S ADVICE. _By William Hewlett._
UNDERGROWTH. _By F. & E. Brett Young._
UNOFFICIAL. _By Bohun Lynch._
WIDDERSHINS. _By Oliver Onions._
YEARS OF PLENTY. _By Ivor Brown._
PRINTED BY
WM. BRENDON AND SON, LTD. PLYMOUTH, ENGLAND.
End of Project Gutenberg's The World in Chains, by John Mavrogordato