EMBARGO ON SCRAP METAL EXPORT

Dominion, Volume 31, Issue 22, 21 October 1937, Page 6

EMBARGO ON SCRAP METAL EXPORT

Opinion That It May Not Last Long Dominion Special Service. Auckland, October 20. The opinion that the embargo placed by the Government on the export of all classes of' scrap metal might prove to be only a temporary measure was expressed at the annual meeting of shareholders of McKendrick Bros., Ltd. For some time the buying and export of scrap metal has been a profitable part of the company’s business and information was sought by a shareholder concerning the effect the prohibition would have upon future operations. The chairman, Mr. O. G. Macindoe, said, the Government was inclined to the opinion tiiiit certain metals were required in New Zealand. If the Government interfered with legitimate business such as the company was conducting then it was only reasonable to assume that the Government would take the company's stocks off its hands. However, he was strongly of the opinion that the restriction on the export business would not last. Similar views were expressed by the manager, Mr. G. A. McKendrick, who said the types of metals the company was exporting definitely could not he used in New Zealand unless a new industry was established. Representations had been made to the Government and a statement should he forthcoming in a week or two.