AUTOMATIC TELEPHONE AND ELECTRIC COMPANY
SIR ALEXANDER ROGER'S VIEWS
55 annual general meeting of the Automatic Telephone and Electric pany, Limited, was held on April 1st at Exchange Station dings, Liverpool.
The following statement by the chairman, Sir Alexander Roger, CIE., was circulated with the directors' report and accounts: Factory orders and output reached a satisfactory level. The profit trading, dividends on investments, &c., at £261,548, compares with 38,052, and is after reserving for E.P.T., ordinary taxation, and tingency reserves adjustment. Te have provided for depreciation £49,288, War Damage Act emiums £24,997, and your directors then recommend:. (a) Transfer 00.000 to war contingencies and taxation reserve, increasing this 050.0oo ; (b) a dividend of 7 per cent, on the ordinary stock to per cent. for the year), plus a cash bonus. of 21 per cent., soluect to tax - and (c) a dividend of to per cent, on the deferred k and shares, plus a cash bonus of 2-V per cent., both subject to The balance carried forward to 1942 is £146,211, being 421,000 than the amount brought forward. The balance-sheet calls for little comment. Bank overdraft at 409. higher stocks, work-in-progress, and debtors and debit all reflect the position. Creditors and credit balances and tin,. for contingencies are also slightly higher. Fixed assets 1,709.025 is slightly lower after the year's allocation to depreciation been set against cost of additions. Investments are stated on a and reasonable basis.
A CHALLENGE TO WOftK DAY AND NIGHT
Should like to quote an extract from a leader of a newspaper appeared the other day:
The Nazis and the Japanese believe in governing by atrocity. is tacit technique for compelling millions to do the bidding of W. Their crimes are not the work of undisciplined hotheads. arc part of the cold, daring, devilish, calculated programme for .suhiugation of men."
Lii Js a c:hallenge to all walks of life to work night and day until '117, 1k won, forgetting comfort and forgetting all other interests.
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