SEWING COTTON PROFITS

Dominion, Volume 11, Issue 142, 5 March 1918, Page 8

SEWING COTTON PROFITS

THE BOLSHKVIKI AXD J. AND l\ COATS, LTD. Presiding at the amninl meeting of J. and P. Conts, Ltd., at Glasgow, recently, Sir Thomas Glen Coats said they had just received disquieting nows from Petrograd concerning their Russian company. This was to the effect that the Bolshevik authorities had issued a decree giving: workmen Uio right to take over the management of production and financial operations, and dismiss the directors as they wished. That, if carried out ae threatened, would be very serious. They had heard through the British JSmbassy that the workers wore completely masters nf the situation. They had recommended that in the interests of the British shareholders tho directors should he guided by the advice of the British Ambassac'ol' • Speaking generally, said the chairman, the results of the year's trading indicated continued steadiness. There was no justification for an accusation mado against them of profiteering in their home trade. The report recommending a dividend of 30 per cent, was adopted unanimously. In view of the profits made year after year by ,T. and P. Coats, Mr. Crooks is asking the Government "to consider the'advisability of assuming control, if not absolute ownership,' of this monopoly, or by special legislation secure a large portion of the profits in time of war."