CLYDE SHIPBUILDERS
(United Press Association—By Electric Telegraph.—Copy r i ght.) LONDON, October 12. The Bank of England and several joint stock Banks that are interescd in the famous Clydesdale shipbuilding and steel making firm of Beardmore’s, have appointed Sir James Cooper, and Mr Frank Hodges (ox-Seorctary of the Miners’ Federation) to represent them on the Control Committee of the firm, whose capital was drastically whitten down on Wednesday. The recent increase in the mink rate has sent up the interest on the •banks’ loans to this firm to the extent of twenty thousand yearly.
Beardmore’s firm in war time was one of tli? largest armament firms in Britain, and it employed forty thousand hands. In recent years its unemployed have numbered upwards of three thousand men.
Glasgow City circles express the opinion that the present reorganisation will enable the firm to turn the corner. Lord Invcrnair, the iormei head of the firm, lost his entire lorbuno in attempting to save the firm, and he is now penniless and broken by the post-war shipbuilding slump.
Beardmore’s yards built tiio steamer Larg’s Bay and Esperaneo Bay, which belonged to the Commonwealth Government’s line.
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Hokitika Guardian, 14 October 1929, Page 6
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191CLYDE SHIPBUILDERS Hokitika Guardian, 14 October 1929, Page 6
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