from Roger Protz
Although the Mersey Docks and Harbour Board (the port of Liverpool) made a ‘surplus! of £1,%89,000 in the year ending July, ‘inflationary tendencies! mean that the surplus is not sufficient for replacement cost depreciation as recommended by the Rochdale Committee. Reporting this at the Board's monthly meeting held on December 10, the chairman, Mr. A.C. Morrell, said that interest charges were expected to increase by over £300,000 in the next 18 months, “The year's surplus arises largely from increased dock useage and also from improvements in efficiency." he continued - another way of saying the dockers have been subject to a speed-up. In fact "the volume of dry cargo handled . - .inereased by more than half a million tons..." Rates were increased as from December 2nd to meet the expected increases in interest charges, etc. Thus a pretty picture emerges of the dockers working harder but the benefit going to interest-drawers,.