GENERAL ELECTRIC

Otago Daily Times, Issue 26229, 13 August 1946, Page 8

GENERAL ELECTRIC

INCREASED EXPORTS A large volume of orders had been received, leaving the order book at the close of the year in a strong position, but tile cancellation of Government contracts and labour shortages had created difficult problems In the company’s factories, said the chairman of directors of the General Electric Company of England, Sir Harry Railing, in reporting on behalf of the directors to the annual meeting of shareholders of the company in London last month. Export business was increasing rapidly, and all operating overseas companies had shown good results for the year, he continued. Those companies which were located in enemy-occupied territory had re-commenced operations since the close of the year. The number of employees at March 31, 1946, was approximately 50,000. In addition, some 5600 employees were still serving with his Majesty s forces. The contributory pension fund continued to grow, the membership new reached nearly 13,500, while the assets held by its trustees exceeded £4,000,000. The balance sheet shows an increase m reserve against stock depreciation from £611,333 to £620,000. Cash is shown at £2,955,961, compared with £1,043,092. Tax reserve certificates, which were £2,000,000 the previous year, stand at £1,500,000. Stocks, which were valued at £7.135,989 in 1945, are shown at £6,209,732.