From the Rolls-Royce experimental archive: a quarter of a million communications from Rolls-Royce, 1906 to 1960's. Documents from the Sir Henry Royce Memorial Foundation (SHRMF).
Proposed draft letter outlining a new system for controlling company expenditure during a financial depression.
| Identifier | ExFiles\Box 33\1\ Scan057 | |
| Date | 15th March 1921 | |
| X.1775. PROPOSED DRAFT LETTER IN ACCORDANCE WITH CJ6/E16.2.21. 1. During the period of exceptional financial depression which prevails throughout the world, the expenditure of the Company's money under all heads, must be kept within definite limits. 2. The Administration will define these limits in relation to every item of establishment charges at Derby and London. 3. The Administration places this system in charge of the Department of the Secretary and the Accountant, and D.{John DeLooze - Company Secretary} has appointed Jn. as the officer to whom every action, or order, which shall involve the expenditure of the Company's money, must be submitted, and every such action, or order, must be passed by him before it shall become effective. 4. The powers of this officer will be confined to the right to pass any action or order which involves expenditure, provided he is satisfied that such expenditure comes within the limits laid down by the Administration. 5. If he is not so satisfied, he will inform the official, who requisitions for the power of expenditure, that the matter must be referred to the Administration in London. 6. Whereupon the official making the requisition, and the official refusing to pass the requisition, will both have the right to put their reasons for the action taken Before the Administration. | ||