COAL INDUSTRY.
FINANCES INVESTIGATED. By Cable. — Frees Association. — CovyrigM. (A. & N.Z.) LONDON, Feb. 12. In accordance with the promise made by Mr Lloyd George to the Miners' Federation, the report of the accountant appointed by the Government to investigate the finances of the coal industry has been issued. He finds that the estimates on which the increase of 6/- per ton and the subsequent reduction of 10/- per ton were based were reasonable, but the revenue was under-estimated to the extent of about £30,000,000. This was due to the under-valuation of exports and bunker coal supplied. The report considers that an increase of 3/- per ton instead of C/per ton would have sufficed, and estimates that there will be a surplus on March 31, 1920, of £6,000,000, whereas miners estimated that the net profits would be £54,000,000.
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Bibliographic details
Sun (Christchurch), Volume VII, Issue 1872, 13 February 1920, Page 7
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137COAL INDUSTRY. Sun (Christchurch), Volume VII, Issue 1872, 13 February 1920, Page 7
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