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).
Explaining the reasons for the company's unfavorable cash position, citing issues with chassis orders, Goshawk manufacture, and Aero work.
| Identifier | Morton\M21\ img025 | |
| Date | 18th January 1923 | |
| W. Tr{Capt. F. W. Turner - Finance}21/DN/18.1.23. The attached Bank Statement shews that the present and immediate future cash positions of the Company are not as favourable as had been anticipated. The following are the reasons :- (1) The majority of our Big Chassis orders in hand at the moment are for long chassis. Owing to the difficulty in obtaining material for long chassis, the supply has not been in accordance with the demand, with the result that our cash in hand has fallen. On the other hand, we have in stock 40/50 H.P. chassis of the short type which have a selling value of roughly £120,000. These are being slowly absorbed by orders and a proportion are now being converted into long chassis in order to fulfil orders for the latter type. (2) Goshawk manufacture is behind Schedule, with the result that the present Statement shews a decrease in cash to be collected on this account. (3) Cash for Aero work for the Government is not being collected as quickly as hoped, but with the exception of about £15,000, it is anticipated that all our orders in hand will be completed by the end of the Government Financial Year, that is, March 31st 1923, and the cash should be collected by this date. This explains the increase in anticipated Bank Balance in March. Tr.{Capt. F. W. Turner - Finance} | ||