CONCILIATION AGREEMENTS

Taranaki Daily News, Volume LII, Issue 121, 19 June 1909, Page 2

CONCILIATION AGREEMENTS

Bv Tfclcim.fA.— Press Association. Wellington. Friday. With the aid of the Conciliation Council, an agreement has been arrived at regarding the hours and wages of carpenters and joiners. It provides for a working week'of 4,"i hours, n minimum wage of "is 4d per hour. Piece work and" sub-letting is prohibited, except in the case of stiiinliuilding onljj. An siwai'd embodying the agreement rermrdiii" female workers in the bootmaking trade has been filed in the Arbitral lon Court. It applies to Auckland. Wellington. Canler.burv. Otago and Sout blind. Preference is given to unionists; hours are fixed at forty-five a week: overtime at time and n-quarter for the lirst two hours, lime and a-half after; the minimum wage for females otter live years CI 7s (Id; wax-thread machinists ' .CI Ins; apprentices, first; vear 7s. second vcar lis. third year 1.15,' fourth vear Ills, and lift!) year 235. The I award expires in 11)11.

BANK OF NtW ZEALAND

ANKUAL MEETING. By Telegraph.—Press Association. Wellington, Friday. Tlii' annual meeting of the' Hank of Xcw Zealand Wits held to-dii.v. .Mr. liiirtiu Kennedy seconded the motion for the iiilo|ition ill tile balancesheet. Hi' said thai the result of the .year's operations, as disclosed by the balance-sheet, could lie accepted as high,ly satisfactory. Referring to the bonui., lie said it wHs less tlian many proprietors hud been expecting, especially t.ho« who sull'ered heavily ill the bank failuiv. But he naked them to look to ,thc act of the directorate rather than to the amount of the bonus. [t was an indication that as soon as the circumstances would admit the 2 1 /. per cent, bonus would be Increased to 5 per cent, in future years. He did no,t favor any proposal to increase the capital, especially as they were building up a reserve so rapidly. The necessity for additional capital was not likely to arise -before IDU, when the guaranteed million falls due. To issue new shares legislation would he required. One could never be sure what would happen to a Bill in the House of Parliament. : ilr. John Mill (Port Chalmers) ex- ' pressed the hope that a 5 per cent. ' bonus would be paid next year. ! Replying, .Mr. Beauchamp said the hoard was actuated by a desire to place " the affairs of the bank on a sound foot--1 ing. He did not wish it to be taken " that the bonus of 2'/ 2 per <ient. this year ' was to be taken as an indication that there would be another ty s P e r cent, on top of that next year. Before increased | capital would be asked for, an assuiance would be sought from the .I'remier lint a Bill would not he subjected to alterations, tt would be the Bill, and the whole Bill, and nothing but the Bill.

Owing to tint caution* |>ulk-y the Bank wns pursuing, shareholders must not be disappointed next year if such good results were not shown as was the cab'e during the last years. The meetrag dosed with votes of thanks to the director* and the staff.