ABSTRACT
The high profits made by the Tata Iron and Steel Company during the war were enhanced during the brief post-war boom of prices, during which it hurried forward its planned "Greater Extensions." The two big cotton-mills of Madras, "Buckingham" and "Carnatic," founded in the seventies, with Indians and Europeans in equal numbers as Directors, had from the beginning been managed by Messrs. Actual production of steel began in 1911. Tata Sons & Co., Ltd., merchants and managing agents of cotton-mills, cement and other works, and shortly about to launch out as promoters and managers of an Industrial Bank to operate all over India. Ways were found, however, for supplementing the regular wage without upsetting the mill routine, by bonuses for regular attendance and good work, retirement allowances and rewards for long service, which boons were denounced by the trade union pioneers who agitated in Madras as golden fetters for the wage slaves.
