UNION CO.'S WAR PROFITS.

Auckland Star, Volume LIII, Issue 193, 16 August 1922, Page 11

UNION CO.'S WAR PROFITS.

i DISCUSSED IN COURT. i a THE P. AND O. COMBINE. ° (By TelejrraDh.—Press Association.) j. WELLINGTON", Tuesday. p The war profits of the Union Steam l Ship Company were made the basis of argument in favour of increased pay for F ships' masters and officers in the Arbi- s tration Court yesterday. Captain W. Melndoe, who appeared for the Merchant Service Guild, said that in reviewing the question of wages of ships." officers the Court would have to take into consideration the enormousamcunt the company had made in profits during the war years. Mr. W. G. Smith, who represented the _T"nion Company, objected to such matters Vraeg brought up. He also protested j againaS to the P. 0. combine. The dispute w-as l.<4sween the * guild and the I'r.ion Compaiy, and he [ submitted it was irrelevant to drag in a lot o; matter concerning the P. and 0. j Company. Mr. .'Justice Frazer: The fruild is raising the question of the ability of the ' company to pay higher rates. The company? present earnings, you sa\*. arc not sufficient to enable it to meet present expenditure. Mr. Smith: That is obvious, from the last balance-sheet, which shows we paid out more than we earned. I have already explained the position of the industry. In one sense- we do not plead poverty. His Honor: You are resting your ease entirely upon the present earnings of the company. Mr. £mith: We do not say the company is unable to pay. /His Honor: The £ui!d maintains that ■while the profits of the company were satisfactory, the rates paid were not very high, and they now ask for something higher. Somehow or other, Mr. Smith, you have given the impression that the combine is something to be asiiamed of. Mr. Smith: Oh. no. your Honor. The object of my remarks was to protest against this allegation, which is absolutely untrue. His Honor: I think the combine of the V. and U. Company can be kept out of the case. There is no question of the ability of the company to pay. They are not pleading bankruptcy. The question of past profits is not a fair matter to be referred to. Mr. 11. .r. Reardon said that years ago the people had learned to be proud of the Union Company, but he did not think unvor.p could have felt proud of it during the last few years. Mr. Spilth:" I don't know on what jrrouGd you base your statement, or \iihy you make it. What has it to do ■with t-ie ease? Mr. Reardon did not rep;y. Captain Mclndoe stated that the Union Company, owing to its advantageous position, had already alleviated its conditions to a great extent by increasing freights and passenger fares, and had recently laid up a number of its ships and dispensed with masters and | officers. A strong argument of the com-: pany for keeping salaries low had been an absolute guarantee of permanent employment. This cci.ld not be maintained in the present dispute, and was a I soIM reason why the Court should not I decrease salaries at the present stage. The (ompan.v having to seme extent protected itself against the existing depression, ivas now appealing to the Court for further Tils guild was eon-1 fideiit the Court would protect the j status and maintain tlie standard of living of the profession, which had played such a noble part during the war ■without receiving any adequate remuneration a< mude by the company. I