The wages, therefore, of railwaymen in the conciliation grades consist of certain rates agreed upon in March 1920, which represented the average pre-war weekly rate of pay of the men in any grade or group of grades, plus 38_s._ per week, together with further increases ranging from 2_s._ to 7_s._ 6_d._ per week, or 2_s._ to 8_s._ 6_d._ in the case of signalmen, granted in June 1920, by the National Wages Board, the whole being subject to variations under the sliding scale, whereby there is a reduction or increase of 1_s._ per week for every fall or rise of five points in the cost of living as shown in the figures published by the Ministry of Labour. Adjustments in the bonus due under the sliding scale are considered by the Central Wages Board. A difference arose in regard to the operation of the sliding scale, and a _modus operandi_ was agreed on by the Central Wages Board which is described in the _Labour Gazette_ of April 1921. The Railways Act, 1921 On August 19, 1921, the Railways Act, 1921, was passed, and Section 62 provided that, as from the date when the railways ceased to be in the possession of the Minister of Transport—which was August 15, 1921—and until otherwise determined by twelve months’ notice, such notices not to be given before January 1, 1923, all questions of wages, hours and conditions of railway servants should, in default of agreement between a company and the Unions, be referred to the Central Wages Board, or on appeal to the National Wages Board. The Act reconstituted both Boards, and provided that the Central Wages Board should consist of eight representatives of railway companies and eight representatives of the railway employees—four appointed by the National Union of Railwaymen, two by the Associated Society of Locomotive Engineers and Firemen, and two by the Railway Clerks’ Association. The National Wages Board was provided to consist of six representatives of the railway way companies, six representatives of the railway employees—two appointed by the National Union of Railwaymen—two by the Associated Society of Locomotive Engineers and Firemen, and two by the Railway Clerks’ Association—and four representatives of the users of railways—one appointed by the Parliamentary Committee of the Trades Union Congress,[16] one by the Co-operative Union, one by the Associated Chambers of Commerce, and one by the Federation of British Industries, with an independent Chairman nominated by the Minister of Labour. The Minister has nominated Sir Wm. Mackenzie, K.B.E., K.C.—the President of the Industrial Court. The Railway Conciliation Machinery of 1921