BRITISH COAL TRADE.
EVIDENCE AS TO PROFITS. WORKERS' ALLEGATIONS. (Received 5.5 p.m.) A. nnd N.Z.-Arras. LONDON. April 25. At the opening of the miners' case in the coal inquiry, Mr. Herbert Smith Asserted that the owners were making handsome profits even after payment of hui-e royalties. * Among those receiving the latter yearly were Lord Durham, £38.000; Lord* Dunraven, £54,000; the Duke of Hamilton »nd the Marquis of Bute, £115.000; the Duke of Northumberland, £82,000, and Lord Tredegar, £84,000. Coal owners, replying to criticism, detlared that the figures of a few individuals tfould be an unsound basis. The Federation determined to give the public the facts, and, therefore, decided to compile a full statement of the average profits *"ith a chartered accountant's certificate.
The secretary of the Miners' Federation, in giving evidence, said the British toal industry in 1923 showed a profit of E26,500,C00. The 'owners had not given the federation complete 'nformation relating to profits and bonus shares, but *'itnes3 said he knew that £17,000,000 *orth of bonus shares had been distributed. It was a method of concealing ■lie actual profits.
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New Zealand Herald, Volume LXI, Issue 18694, 28 April 1924, Page 7
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181BRITISH COAL TRADE. New Zealand Herald, Volume LXI, Issue 18694, 28 April 1924, Page 7
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