11 APRIL 1941, Page 24

VICKERS LIMITED

COMPANY'S BUSINESS IN SOUND CONDITION MR. A. A. JAMIESON'S STATEMENT

THE seventy-fourth annual general meeting of Vickers, Ltd., was held on April 3rd at Vickers House, Broadway, Westminster.

Mr. A. A. Jamieson, the chairman of the company, presided.

The chairman's statement, circulated with the accounts, contained the following remarks: I can give my assurance that the whole strength and energy of this group of companies are directed to ensure that punctual deliveries of our products are made to the Service departments. The accounts submitted are evidence that the business affairs of the company are in sound condition, and only two items appear to require elucidation. First, the Metropolitan-Cammell Company repaid the balance of debenture stock outstanding ; secondly, the dividends on the Preference stocks are shown this year after deduction of tax.

LOYAL SERVICES OF THE STAFF

I desire to acknowledge the co-operation of the Service departments in our efforts to carry on production in spite of the difficult conditions inevitably existing in war-time, and I record with real gratitude the courage and determination of those of our workpeople who have faced severe trials. The work of those employees who have given up their leisure to train themselves in A.R.P. duties has proved imialuable in emergency.

During the past year there have been many difficulties to overcome, but the staff and workpeople in this group of companies have proved that they are competent to foresee and to overcome difficulties which appeared to be truly formidable.

Schemes have been formulated for each of the works in order to encourage savings in War Savings Certificates, and more than 600,000 certificates have been applied for through the medium of these schemes during 1940.

At the request of the Government the services of Sir Charles Craven were placed at their disposal in May ; at my request he was released in November from his duties with the Government in order to resume his position with this organisation.

The report and accounts were unanimously adopted and the final dividend of 6 per cent. approved.