STATE TRADING.

Auckland Star, Volume LXIV, Issue 206, 1 September 1933, Page 6

STATE TRADING.

In view of the proposal to sell some of the State enterprises of New South Wales, facts taken from the '"Economic Record" for May. 1939, may be of interest. The State brick works were established in 19*12 with a loan capital of £82,326. The financial results for the year ended June 30. 1928, show that not only' had the loan capital been repaid, b«st tha"t a further sum of £137,002 had been expended from profits on new works; accumulated profits were £135,095; reserves £123,510; and cash in hand, £53,858. The price was 14/9 per thousand below private, competitors, and. incidentally, less than half the price of bricks in Auckland at that time. It is inconceivable that the people of New South Wales will permit the sabotage of an industry which must have saved an incalculable sum to the building industry in that country. The figures given in the same article for the Monier pine works and metal quarries are nearly as striking as those for the brick works. It is. not difficult to understand that with building at a standstill brick works will make a loss. To sell the works for such a reason is just about as intelligent as clearing out our flocks becaree wool is unsaleable or tearing out of fruit trees because we do not like th'e price for fruit. J. S. MOXTGOMERIE.