The New Taxation

Dominion, Volume 10, Issue 3163, 15 August 1917, Page 7

The New Taxation

"j_, P ro 'it and loss account, on tho shnkf •; ,viU s <* «<at tho out lis wi »n m r S Vi lcs "? d oEI2 ' SSG 1 1 wWressed vou this timo last year I mentioned in connection with ted-(W th « n uucea mat its ethical aspect had rp ccivc-d apparently but scant Parliament beenS le ™ lon v, s ™o then much has Hon of its 1 " "/ just «on oi its nnfftirncs?, bv. iriemiah'h- nC burdan, and the -punishment of ener«v terp r i s C e ODS6 ? r 1 J l en i. dl^Hl^. ell iPnt of en'-. W[f * i Minister, by giva ej riy burial, admits this whicli is somewhat consoling to those who unjust J.y suffered under it. The suggreted new the 1 -V" 11 increase the amount of the company's contribution, which was not -unexpected. You will see bv the that the directors invested ■f 111 Government War Bonds The currency ~ twenty-flye years. The final payment was made last February. VC the loan was announced, tho directors them to to assist tnem to invest m war certificates tho repayments to bo in small instalments still rIn P ® nCO pei ' lvMk ' and 'offer still remains open; and I trust the enit "'D fake further advantage of it b) subscribing to the next loan. The directors contemplate investing a further Loan m S reseTves in tllo new Wh-r "A large nnmber of the coinnanr'= permanent staff have enlisted,- every- encouragement being given them to do =c tL ™ v epinfr of f ' JlGir nod tnte" P i° f pa J" Inm w 1 ? ave liecn on e lias lost a leg, and several others have been wounded One of the youngest of them, Military Cros& B * an,cd - t,,e

The Wool Commandeer, The first thing is, of course, to win tho war, and to that end pecuniary interests of individuals, or (lie prosperity ot any firm or corporation must vivo way; but just l lo , r j t ; s hr thoso guiding the country's affaire to maintain its industries, whether thev be clnssod as ."essential" or "most tial, has not yet been mado clear, slippage ot, or even restricted, industrial activity, most mean distress to many whose daily bread depends on reasonably constant employment. To minimise tho curtailment of employment in any industry, but especially iii fucli as ours where there arc large numbers of female operatives, those male experts who are at this time irreplaceablo should bo Uons m °' resOTTCt ' oc oupa-

llio woollen mill operatives' wanes award expired las) April. and as tlie result of a. conference bet ween (he employees and mill-owners, new conditions were agreed on, which apply to the wholo Dominion. lon will, bo satisfied to know imit material, increases were granted to the employees generally/ both on and above the minimum rates. Amongst the many departures from normal m tho past year was Hie commandeering for the Imperial Government ot the wool clip of the Dominion. K was earned out with ability, and those rm < !i rectl J' affected—tho growers—had little, if any, cause for complaint. They u f on ,R rRh 'lated on facilitating tho rtimcult task of thoso entrusted ' with so largo and unusual a transaction. Tho woollen companies, on the other hand, as miyors, had reason to demur at tho vendors being relieved of brokers' charges, tho pnrclieseiS having to pay five-eighths of a penny por lb., which sum, added to .ran/inn ?! e Woo '' mc,l » n f ! an extra 1J.20.00n more than»the mills would have paid under tno ordinary conditions of sale. "One of the many difficulties thai: loomed somowhat large -in our industry at the beginning of the war was the scarcity of dyes. Uis satisfying to feel fhiit the British manufacturer is taking hold of tno situation in a better way than was expected, and the shortage, whilst fitill acute, is not now ho alarming. There is a reasonable prospect that; we snail never again have to depend on outsiders for a commodity which unfortunately was allowed to pass out of British control. "I desire .to convey the thanks or tltn board to the stnlf and employee--' generally for flio loyal manner in which I hey have responded to the heavier demands. 1 now move the adoption of the renort Mid balance-sheet, which carries with it tho payment of a further dividend of 4 per cent, and bonus o" H per cent., payable forthwith." Tho motion to adopt the report and the balance-sheet wns carried without being discussed. The'rctirim: directors, T)r. C. T\ Knight and Mr. A. V,. TC.'ley, wer« re-elccted? Messrs. H. Kember and Son and E. W Tfun l were re-elected auditors.