ENGLISH STEEL INDUSTRY.

Evening Star, Issue 17957, 2 May 1922, Page 8

ENGLISH STEEL INDUSTRY.

SET-BACK BY FOREIGN COMPETITION. • EXCHANGE RATE A FACTOR. . _ Before the war my firm had extensive business relations with most European countries, but in consequence of the adverse stale of tho _ foreign exchange rate at the present time all business has been cut off with most, of these countries. In order, therefore, to keep abreast of the times, it has been found necessary to extend our activities, more especially with tho colonics. . This was a remark passed by Mr John Eollin, a director of tho firm of John Vessey .and Sons, Ltd,, owners of tho famous Brunswick Steel Works at Sheffield (England), in the course of a chat with a ‘ Star ’ representative to-day. Mr Roll in left England in January last on an extensive business tour on behalf of his firm, and reached Dunedin last Thursday by way of Fremantle, Adelaide, _ Melbourne, and Sydney. He is making a tour of New Zealand with the object of developing the linn’s business. Mr Beilin explained that Vessey and Sons is not. au entirely new firm While not well known in Now Zealand, it would no doubt lie of interest, to many to know that tho C/adman .Bengali razor had been manufactured from the firm’s steel, for over forty years, as well as most other leading brands of razors. He stated, too, that the Vcssey’s special Echo high-speed steel had secured for the firm a contract, with tlio Victorian Railway Department for tho year. Referring in labor conditions in England,. Mr Roll in said that these, unfortunately. were in a very unsatisfactory condition at the present time. There was a considerable amount of unemployment,

which was duo in a largo measure to the high rate of exchange with foreign countries preventing the export of manufactures. It was feared that this state of affairs would last for some considerable time. As regards labor itself, there appeared to bo a much 'better feeling between employer and employee, as tho hitter recognised t-lia-fc it was better for botu sides to “pull together.”_ Employees in England were, now submitting to a reasonable reduction in. wages in order to enable manufacturers to compete with such markets as were still open to them. Unemployment was very rife when-Mr Roll in left England, and until the rate of_ exchange 'becomes more normal ho fears that there is not. much prospect of Improvement. Most of those out of work were receiving weekly doles, partly paid from tho rates of tho city. Everyone recognised that the unemployed and their families had' to bo ted, but it was abundantly evident that the distribution of doles tended to encourage idleness. Mr Eollin wont on to say that the unsalisfactwy situation at Homo was somewhat aggravated by tho importation into England of foreign goods. A large quantity of these goods came from Germany, the antagonism to trading with Germany being sweetened by recognition that, unices Germany were permitted to trade with foreign countries she would lie deprived of the means of paying her reparations. IMPRESSIONS OF AUSTRALIA. In referring to Australia, Mr Rnlliu said that, while he found Im.dnesfi very quiet in Adelaide, MelKnirne, and Sydney,,, there seemed to be a better confidence existing in New .South Wales in consequence of the 'election of the new Government in that State. There was a possibility of very large business concerns being dev eh .vied in Australia. Until one Levelled through the Commonwealth no idea could be gained of the great resources at command. He mentioned that many people in England had tho impression that one could cross from Australia to New Zealand hy a railway bridge as well as

by steamer! As an instance of this ignorance bn the part of the Home people concerning tho dominion, ho narrated that an officer on a steamer had been informed that tho officials in England when hooking tho passages of a batch of recent now settlers actually made out their passage tickets as being avriiablo by _ cither steamer or train between Australia and Ni/w Zealand. “There arc groat prospects in Australia for any man corning from England who_ is willing to work,” continued Mr Rollin. “ The manufacturers in'Australia are always complaining of the difficulty experienced in obtaining skilled labor.” Ho also noticed that the wages were temptingly good in Australia and New Zealand, and was immensely struck by tho fact that .so many people owned their own homes. During his visit to Dunedin Mr Rollin has been shown round the city by Mr ,1. Ringland, managing director of the Iron and Steel Company, who are representatives of his firm.