AUSTRALIAN INDUSTRY

Dominion, Volume 34, Issue 228, 23 June 1941, Page 3

AUSTRALIAN INDUSTRY

Growth During War The view that Australian industry, during the remainder of the war period, ■will be busier than ever before, was expressed by Mr. George Lormer, chairman of National Reliance Investment Company. Limited, at the annual meeting in Melbourne. ' ~ ~ "It does not mean,” said Mr. r,ormei, “that, all businesses will be aS profitable as they have been in the past. Higher taxation, rising costs, dislocation of some businesses, and shortage of manpower will probably more than offset the benefits of increased volume of production. “Since September, 1939, more than iv new industries have been started in Australia. and many already existing have received an important impetus. Some industries have advanced as rapidly m the last two years of war as they would have during a decade or more of peace. •‘At. present, there are about 41,000 persons directly engaged in Government factories on armament work, and in addition 150,000 are indirectly engaged in the manufacture of munitions aud was Supplies. “One of the most important peacetime industries to receive an impetus to expansion is the cotton textile industry, which was only an infant before the outbreak of hostilities. This may possibly be destined to become one of Australia’s major industries. Paper-making is another industry which has received a big fillip as a result of. the difficulty of importing from non-sterling countries.” Swan Brewery Results Consolidated profit of Swan Brewery Company, Limited, of Perth, and its subsidiaries, amounted in the half-year ended March 31 to £120,542, after eliminating outside shareholders’ equity, _ against a comparative profit of £83,698 in the preceding six months, and £98.053 in the halfyear ended March 31, 1940. The parent company shows for the half-year ended March 31 a profit of £92,880, making a total profit for 12 months of £185,299. This compare's with a profit of £120,241 for 1939-40 and £125,321 for 1938-39. During the year under review Swan Brewery Company made a. bonus issue of ordinary shares of one for three (£170,156), and a new issue of one for six for cash (£85,078), at a premium of 100 per cent. (£85,078). Nominal capital was increased from £-565.400 to £835,556 Preference dividend of 6 per cent, and ordinary dividend of 21 2-3 per cent. (last year 25 per cent.), require in all £161,859. The Price Of Tin (By Telegraph.—Press Assn.—Copyright.) LONDON, June 20. The price of tin is quoted as follows:— Spot, buyers, £26'l/10./- a ton, sellers £261/15/-: forward, buyers £263/15/-, rollers £264. Dow Jones Averages (By Telegraph.—Press Assn.—Copyright.) NEW YORK. June 20. Dow Jones averages (1926 equals 100) and turnover on the New York Stock Exchange compare as follows:—

20 Railroads. 30 industrials. Shares sold May .... 30.66 147.76 650 000 June 24 .... 25.71 123.76 470.000 July 31 .... 26.92 126.14 560.000 Sept. 3 .... 28.00 129.74 540 000 Nov. o .... 29.22 134.85 470.000 Jan. 6 .... 2S.4O 132.83 720,000 Feb. 4 .... 2§.p!» 122.63 350.000 Mar. D .... 2 1 .32 120.88 330.000 Apr. 2 .... 28.97 123.47 450.000 May .... 28.51 115.72 400.000 June2 116.18 260,000 June 11 .... 28.26 122.1" 540.000 June 12 .... 28.40 122 9* 560,000 June IS .... 28.29 1251.59 5SO.00O June 19 .... 2-8.07 123.50 460,000 20 .... 27.93 12219 360,60®