Benedictine

Few industries in France have been more prosperous of recent years than that of the manufacture of benedictine. One of the principal concerns in this line is the Distillery of the Ancient Abbey of Fecamp. For all its non-commercial name, this company has maintained an extraordinary dividend record. In 1921 shareholders received a dividend of 140%. The next year this was increased to 160%. Last, year a 200% dividend was paid.

The capitalization of the company consists of only 5,000 shares of 500 francs each, or 2,500,000 altogether. Net profits, however, have recently been running close of 10,000,000 francs and in the Paris Bourse the shares are quoted at 23,600, or over 43 times their nominal value. According to the company's reports, sales have been large throughout northern Europe and in the Far East. Nothing is said of sales in the U. S.