THAMES IRONWORKS.

Stratford Evening Post, Volume XXXII, Issue 22, 9 January 1912, Page 8

THAMES IRONWORKS.

The a'inioiiiicoxhent that a! receiver ! iad lieeit appointed for the Thames' Ironwork?’* Shipbuilding and Engineering Compajny caused a great deal of surprise' arid not a little consternation nr Londor}'- recently. The layipen little suspected that this old established business was in deep waters. The annual report had given no indication of trouble ahead, in fact, it mentioned that'; “the tide of industrial depression,'so far as the Thames ironworks is concerned, has now turned, and the' prospects seem bright for- a currence of more prosperous years. ” The works are to he carried on under che receiver, but it is obvious that die present situation involves the whole future of the shipbuilding industry of the Thames. the Mersey, the Tyne, the tv ear, the lees, are not only better situated as regards raw material; the shipbuilding drms at these places are able to pay lower wages, because living is cheaper there than in London, their yards represent a much smaller capital outlay size for size, and the burden of local taxation is vastly less than laid upon London firms. It is quite clear that with the inevitable heavy charges, London cannot continue to compete with the Northern Yards unless it can obtain higher prices. The question involved is whether an up-to-date building yard like that possessed by the Thames ironworks, has proved itself capable of turning out a superDroadribught with notable expedition is of such strategic value as to justify the payment of higher prices for shipbuilding on the Thames. Without Government orders the Thames ironworks cannot carry on, and at the same time it is clear that if warships are to lie built on the Thames the administration will have to meet a much larger expenditure than in the past .