103 Alterations The Secretary read letter from Mr. Leitch Penalty as follows:- Francis Morton & Co. Ltd. account. I have seen the Manager of above firm and have represented to him the views of your directors as regards the penalty clause. He maintains on behalf of his Company that owing to the alteration the penalty clause should not be enforced and also asserts that his Co. did every thing possible to accelerate the work from the time the order was given and that owing to the alteration there was a considerable delay before the orders for material could be placed. He also states that his Co. caused their workmen to work considerable overtime involving labour on Saturdays & Sundays for which nothing extra has been allowed. They also consider that in their view their a/c as rendered was rigidly cut down. They feel that they on their part having done everything possible involving extra labour and expense they should not be made to suffer any loss due to the non completion of the contract in the specified time. In the event of your directors adhering to the views already expressed. There will be no alternative but to submit the matter to arbitration as provided for in the contract & I shall be glad to have your further instructions concerning same.