Document Jr6V3Yg8nqRK37mYaNbyG00q6

DATABASE:EAP *** Reference number- 1668 : NO 460830.001 : TL Copy letter ABA Sydney to ABA Wittenoom * Yearly Accounts and method of charging Commission on asbestos and minerals : SO AUTHOR Powell CWR OCCUPATION Managing Director ORGANISATION ABA PLACE Sydney REFERENCE Original Documents Index Cl.001 TY LETTER LO CSR Perth Cl NAME OCCUPATION Manager ORGANISATION ABA PLACE Wittenoom : AD KEYWORDS Accounting, Fibre Sales, Insurance :TT PRIVATE No 48 SYDNEY 30th August, 1946 The Manager Australian Blue Asbestos Ltd. WITTENOOM. Dear Sir, YEARLY ACCOUNTS. We have now examined the accounts for the year ended 30th June, 1946 as supplied by you and attached to your Private No 61. Although the loss incurred during the period was more or less expected, mainly due to the mechanical breakdown of the mine, the results were most disappointing. The fora in which the accounts have been written up this year, however, now gives a comprehensive idea of the various operations with details of costs and as already advised it will be necessary during the ensuing year to watch all expenditure very closely, particularly in relation to indirect expenses etc. etc. On page 4 of your P. No. 61, you asked if the method of charging Commission could be altered but we would point out that Clause 5 of the Agreement (June 1943) between The Colonial Sugar Refining Co. Ltd (The Company) and Australian Blue Asbestos Ltd., reads as follows The remuneration of the Company for its services here under shall be a sum equal to five per centum (5 percent) of the total amount of all sales asbestos and other minerals purchased, mined or produced by or on behalf of the Principal whether sold to the Company or otherwise, including freight, insurance and other charges appearing on the Company's invoices for such sales. Yours faithfully Managing Director. :## C 1178