Companies at the End of Their Tether Hongkong, Oct. 6.
Speaking at the annual meeting of the Indo-China Steam N wigan tion Ca,, Ld, to-day, the Chai man said that the company was again faced with the prospect of trouble in the ranks of the floating staff, caused by the demands of the guilds for a further increase of pay of 50 per cent. all round. Figures proved not only that the men were extremely well pid, but that the company had reached the end of its tether in the matter of salaries and concessions. The Direetors had agreed that, come what might, a halt must be called to the rising costs, otherwise there would be a really serious prospect of being forced out of business altogether. From information at his, the Chairman's, disposal, it appeared that the policy of the guilds was being dictated, not with a view to harmonious working with the companies nor with the slightest regard to the future continuance of the company, but with the sole object of immediate gain on the part of those who had little or nothing to lose, with no thought for the morrow or for British prestige in the East. Wages had advanced from £66,000 to £248,000 during the years of the war. The company did not propose to be dictated to by the guilds. It was ready to meet them in matters concerning the welfare of the men within reasonable limits but recarved the right to know when those limits had been reached.
Subseanent. speakers supported the attitude of the Directors.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.