To the Editor of the "Nowru-Cuaxa Dany News"
Sim.—The following new and revised specifications have recently been Published by the British Standards Tnstitution "(formerly known as the British Engineering Standards Association), and I should be obliged if you will give prominence to them in your Journal and s0 assist the Institu-Yon in making them known to Industry, Revised ($1.60 a copy except No. 0 at $400 '91008 for Bull Head Railway Rai (Superseding HSS. No.
To the Editor of the "Noxr-Curxa Dany News"
Sinj—I suppose there is no where else in the world where investors show so little interest in the way the companies are managed in which they are interested.
an annual meeting and see bow many shareholders turn up, even' though the day previous they' have been blackguarding the Directors and the Managers, What is the reason, dont people here care what becomes of their were made in the following—
Directors. (a) How can any man on the board of 8 to 12 oF more Companies and take a serious interest {n'them all, unless he has absolutely the business of his own to ook after?
1b) Why should Directors be. put unto alrect"a company when. they manifestly of made a successs (of their own Business.
many inmost companies. One, gom= (G)" ember of Diectors pany, has no less than 13 and T have Seen' told "that same" of them, have] ewer opened their mouths "yet.
(a) Onno account should there more than one Director from the Managing firm.
(eye Best Directors far too. small to say Serious interest In the welfare of company.
"Commissions. If shareholders would analyse, accounts. they" would really be" astounded at what la" pal one company alone the amount puid'in commission to. the Shanghai Eeneral manager, for his managership amice expenses, works out equal to the uinal dividend on holding. of a quarter of the shares "the companys the same sail are aid by other companies he man 'Accounts. What is the reason that! some companies are s9 slow in bring-Ing out their balance sheets after te lowe of the financial year? 'They' Charge enough for amice expenses, 'The reason f can only suppose for shareholders' apathy Is that Know each other much too. well and will overlook anything.
'A good suggestion was made the] other day to me which was that Investors Protection Society formed, as has proved such a success in London and all big cities. company is formed and a small levy collected from every shareholder which goes to pay for payment of Independent auditor and lawyer's fees etc, Any shareholder can then send his query to the I. P. S, and they will Took into it and attend all meetings necessary.
'Of course, when times and business are good high "overheads" are over-Tooked, but' with depression likely to continue it is absolutely necessary that economies. in commissions, expenses, should be closely watched, fas every investor needs every cent of possible dividen Baowy
Text read from the printed page and cleaned; old type leaves the occasional error.