HUDDART, PARKER.

Poverty Bay Herald, Volume XLI, Issue 13350, 7 April 1914, Page 3

HUDDART, PARKER.

At the second ordinary meeting of Huddart Parker, Limited in Melbourne, Mr-W. T. Applet on, the chairman, presided, and in moving the adoption of the report, he stated that the net profit on the year's trading ended December 31 amounted to £57,709. An interim dividend at the rate of 6 per cent, per annum on both the preference and ordinary capital was declared in September, which absorbed £30,000, and a further dividend payable on March 19 had been declared at the rate of 6 per cent, on the preference, and 5 per cent, on the ordinary, making an average rate of s_, per cent, on tlie ordinary capital for the year. This would absorb a further £27,500, leaving a balance of £8347. Orders had been placed in Great Britain for tho construction of a geared turbine steamer capable of doing 20 knots, for the Launceston service, and a now cargo steamer for general purposes. Mr Appleton also referred to the demands of the waterside workers, M*hich wore submitted to shipowners in conference. Had they been accepted they would have involved the Australian owners in an extra expenditure of between £300,000 and £400,000 a yenr. This matter was wubjudicc, but ' one partial solution of the difficulty might be employment of a number of 'permanent hands at the main ports at a fixed weekly wage. Shipping managers M'ere faced M-ith a serious problem — how to meet, the increased cost of running their fleets. Not only had all sections of employees had their wages and conditions materially altered in their favor, without satisfying them, but the manner in which some of these charges were forced upon tho employers were undermining both discipline and economical M-orking.