The Rushden Echo and Argus, 20th February, 1948, transcribed by Gill Hollis
Ninth of Nation’s Total Exported
John White’s Sent 412,972 Pairs Abroad
More than one-ninth of the total British export of men’s leather footwear in 1947 came from the factories of Messrs. John White, Ltd., claimed Mr. John White in his speech at the company’s 14th annual meeting, held at Higham Ferrers to-day. The firm exported 412,972 pairs.
Referring to the recent removal of all leather subsidies, the large increase in wages, and the heavy tariffs imposed by certain Continental countries, Mr. White said that although it was early to say what the result would be, he was apprehensive as to the effect on export trade. He was, however, preparing to visit both Europe and America this year, and any failure to maintain last year’s export total would not be through lack of effort.
In the home market they were quite unable to supply an increasing demand, but he believed they were in a more favourable position than many other manufacturers, having accumulated very large stocks of materials before the subsidies were taken off. They would be able to carry on for a long time without adding the full increase in cost to their productions.
A New Sole
Mr. White spoke of plans to introduce a new sole which “should help considerably to solve the problem of increased leather costs and also help to overcome any shortage of supply that may arise,” at the same time saving the purchaser two coupons.
Testifying to the value of bold advertising, Mr. White said that newspaper advertisements of the company’s products had appeared in many languages in 14 overseas countries.
Commenting on the financial accounts (which show a record profit of £136,886), Mr. White said the excess of current assets over current liabilities had been increased by £57,000.
The speech concluded with thanks to the executive staff, managers, foremen and operatives, with special tributes to the production director Mr. B. H. Toms) and the secretaries (Mr. L. W. Bradshaw and Mr. A. E. Smith).
The Directors’ Report recommending a final ordinary dividend of 37½ per cent less tax was adopted.
Mr. B. M. Lindsay Fynn, who was re-elected a director, moved a vote of thanks to the chairman and said that Mr. White was himself chiefly responsible for the details a well as the top control of the export drive.
Referring to the break in American leather prices Mr. Fynn said that in due course British leather prices would follow suit.
During the meeting, Mr. White announced that he had received letters from Sir Stafford Cripps and the Board of Trade complimenting the firm on its export figures.
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