FAMILY ENDOWMENT.
NEW SOUTH WALES SCHEME. INCREASED PRICE OF CAS. The increase of one penny per 1000 cubic feet in the selling price of Sydney's gas, which operated from August 6, was stated to he due to the Family Endowment Act. Mr. G. J. Cohen told the annual meeting of shareholders of the Australian Gaslight Company that the direct cost of the Act to the company was estimated to exceed £27,000 a year. This necessitated the increase. In addition, there had been a further increase of 6d per ton in the price of coal. Under the Workers' Compensation Act the amount of compensation paid during the year had been practically "double that of the preceding year. During the year, said Mr. Cohen, the selling price of gas remained unaltered at 5s 8d per 1000 cubic feet, despite an increase of 9d per ton in the price of coal, which took effect from December 6 last, and an increase of 3s a week in the basic wage on the industry, which prevailed for six months of the year. In great measure these increases were met by increased efficiency with which the manufacturing plant had been operated, and by the increased return received from the sale of coke.
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Bibliographic details
New Zealand Herald, Volume LXIV, Issue 19721, 22 August 1927, Page 11
Word Count
206FAMILY ENDOWMENT. New Zealand Herald, Volume LXIV, Issue 19721, 22 August 1927, Page 11
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