BROKEN HILL MINE

Dominion, Volume 20, Issue 296, 13 September 1927, Page 9

BROKEN HILL MINE

TO CLOSE DOWN THIS MONTH THROWING MANY MEN OUT OF WORK BY TELEGEAPH.—PRESS ASSOCIATION. CoPYRIGHi. Sydney, September 12. The directors of the Broken Hill Proprietary Mine announce the closing down of the mine on or about September 24. This step, they state, is being taken owing to the low price of lead, and there being no indication of a substantial recovery. Over a thousand men will be rendered idle. It is understood that Block 14 mine will close at the same time, rendering idle a large number of men. The announcement lias' caused a heavy slump in the prices of all Broken Hill shares. The directors regret the shutting down of the mine, and the unemplpyment of the mine workers; but in view of the extent of the losses already made, and the present outlook of the lead market, thev consider a continuance of the operations at the present time is not justified. LONDON PAPER’S COMMENT WAGE-FIXING REGARDLESS OF CONDITIONS. (Rec. September 12, 5.5 p.m.) London, September 12. Commenting on Broken Hill, the ‘.‘Morning Post’s” city editor says that the impossibility of extracting from an industry more than the employees’ productive effort is worth is most clearly revealed in Australia, where the fixing of hours aud wages, regardless of economic conditions, is inevitably resulting in the failure of certain industries to pay any wages at all.