GENERAL ELECTRIC

New Zealand Herald, Volume LXXIII, Issue 22489, 5 August 1936, Page 9

GENERAL ELECTRIC

WIDESPREAD ACTIVITIES EXPANSION OF EXPORTS ANNUAL MEETING HELD The annual general meeting of the General Electric Company, Limited, was held in London on June 25. Known throughout the world as the G.E.C., tho company is represented in New Zealand by British General Electric Company, Limited, Wellington, Christcliurch and Auckland. Its issued share capital amounts to over £7,400,000 and its an mini t.rnrlinp- profits Vinvf* Koftn in the neighbourhood of £1,000,000 for several years. Tho dividend on the ordinary capital is 10 per cent, plus cash bonus of 5 per cent, against 10 per cent last year. Tho chairman and managing director, the Jit. Hon. Lord Hirst, of Witton, said:—"Our good results are duo to a number of causes: (1) I can say wo have built ourselves up on a sound foundation; (2) we have, during the period of depression, carried on our research and studies and development of tho services that electricity can render so that, wo were in a position to take full advantage of tho recovery in business when it came. This recovery is now evident, and I sec no reason why given political stability within the next few years, equally good if not better results should not be obtained. Lastly, considerable credit for the improvement not only in our own but also in tho country's affairs is duo to peace in industry. Extensive Markets "Our main activities have been concentrated on the supply to the home market, but we have made considerable progress during the last year in the supply to our Dominions oversea, to our Colonies and also to foreign countries, mainly those which can bo described as being within the sterling a rea. "In mv speech last year I alluded to the steady growth of our export business, and 1 am glad to say that this year that expansion has continued, our increase over the previous year being in the neighbourhood of 20 per cent. The volume of our total exports constitutes a record in the company's history, though the actual money value falls a little short of the year 1929-30, when prices were considerably higher. I am pleased to say that the increase we have achieved is mainly due to exports to the British Empire, which now absorbs over 75 per cent of our oversea shipments. "Our export director, Mr. Gamage, has only just returned from a long tour to our branches in Australia, New Zealand and Canada. Reports I have received indicate that his visit was a great success, and the hard work ho lias put in and the contacts he has established with prominent business and public men will prove of real benefit to tho company. Engineering Busy "In our mechanical engineering works trading under the name of Eraser and Chalmers we have, after a number of lean years, been very busy. The activity in the goldmining industry has brought us a number of satisfactory orders for mining equipments. In putting the pumplcss air-cooled mercury arc rectifier on the market, we lead not only in this country but in the world. "Our position in connection with railway electrification has been well maintained, and a number of orders have been received from the London Passenger Transport Board. Great development is taking place on trolley-bus equipments, and large orders have been received both for London, provincial authorities and abroad. With regard to electritf ship propulsion, we have received further orders for Diesel electric tugs. Telephone Contracts " The field of communication has seen further development and expansion. In the British Post Office tho value of a widespread and efficient system of communication is becoming more generally appreciated. Our telephone works have received their full share of all this work, and have been kept busy throughout the year with contracts at Home and abroad. Shareholders will, I think, he interested to know that the telephone equipment for the Cunard White Star liner Queen Mary was installed by our Coventry Works, and we were responsible also for the lighting of practically all the public rooms in that magnificent ship. Field of Illumination " In th-? field of radio broadcasting there has been no outstanding development, although there has been a steady advance in the quality of reproduction given by the ordinary commercial recoiver. There has been a good deal of loose talk as to what the coming of television will mean, but this will not render any good make of radio set obsolete for some years to come. " Wo have also made great progress in the field of illumination. I am not referring to the sale of Osram lamps, which continue to enjoy great popularity throughout the world, nor to the new discharge lamp—the Osira lamp. The latter, used for street lighting, is making great progress and bv to-day some 1400 miles of roads are lit by these lamps. 1 am thinking of a new art that has developed. It is realised to-day that in public buildings, ships and aerodromes, in churches, in workshops, in stores and in tho streets, special schemes of lighting will have to be devised. Our illuminating department, which was started for this purpose many years ago, has given a lead in this science, and to-day wo have acquired a reputation as lighting specialists which stands very high throughout the British Empire. Lighting of Aerodromes

" During the last 12 months we have received contracts for tho lighting of aerodromes at Gravesend, Gatwick, Leicester, Leeds, Brussels, Penang, Singapore, Durban, Rhodesia and Jodlipur. The Indian Government alone have entrusted us with the lighting of 12 aerodromes from Karachi to Rangoon, and 1 am certain this section will bo one of the best lighted on the India to Australia route. At the same time, we aro not neglecting the important branch of lighting equipment for film studios. In heating and cooking we have considerably extended our activities. Thert' is a rapidly growing demand for electric cookers, water heaters, washers and a whole range of domestic appliances. " In connection with Pirelli-General Cable Works, in which shareholders will remember this company is interested to tho extent of 50 per cent, we recently installed with complete success our own rolling mill. We are now dependent entirely on ourselves for all the processes through which the copper passes from the billet to tho finished product; this lias resulted in considerable efficiency and economy in our cable manufacture.

" The various utility companies are incorporated in a company absolutely under our control, which wo have named Electrical Development and Securities Trust. All are doing well and have entered the dividend-earning capacity stage. " I am particularly glad that the result of all these activities of ours has not only been additional profit for our shareholders, but also the employment of some 4000 or 5000 additional workers, skilled or in the process of becoming skilled, and the total number of our employees now exceeds 34,000." At the close of the meeting an extraordinary general meeting was held at which resolutions were passed removing the restrictions on British ordinary shares and authorising the conversion of all shares into stock,