CHARGES DENIED

Auckland Star, Volume LXXII, Issue 169, 19 July 1941, Page 4

CHARGES DENIED

BROKEN HILL COMPANY

PROFITEERING ALLEGATIONS

(Received 11.20 a.m.) SYDNEY, this day. The chairman of the Broken Hill Proprietary Company, Limited, Mr. H. G. Darling, has issued a statement on behalf of the company repudiating charges of profiteering made by Mr. F. M. Forde. deputy-Leader of the Federal Labour party.

Mr. Darling pointed out that the prices of iron and steel in Australia had not been increased since early in 1938, while since the outbreak of the war the company had spent more than £500,000 on buildings and tools for defence purposes, in addition to which the company was spending £1,500.000 on plant essential to the war effort, and which, if ordinary commercial conditions obtained, would not have been installed. The company had given just artd generous treatment to its thousands of employees and had adhered strictly to all awards.

Mr. Darling compared the company's current prices per ton with those of Britain, disclosing that Australian pig iron, merchant bars, structural steel and plates were approximately half the cost of similar British products.

In urging State control of the company. Mr. Forde argued that it would help to provide raw materials for th« war at the minimum price. He and his colleagues believed that action of this kind would allay a growing feeling of suspicion that certain huge monopolistic key industries were beroming affluent at a time when the soldiers and the masses of the people were making great sacrifices. Mr. Fordo pointed out that both the British and United States Governments had found It necessary to take over and control, for the duration of the war. large key Industries, with considerable advantage to Industrial peace. Increased output and the war effort generally.