GROWING POWER

Gisborne Herald, Volume LXXIII, Issue 22197, 6 December 1946, Page 4

GROWING POWER

WOMEN IN BUSINESS U.S.—AUSTRALIAN TREND In Australia and America women are becoming more important in their country’s business life. They sway the volume of purchasing power not only for women’s goods but for men’s as well. In the U.S.A., according to a survey conducted by the Life Insurance Companies of America, women spend 85 per cent of the family budget, and dictate their choice of shirts, socks and cars to their husbands. Commenting on this, an executive member of the staff of a large Sydney men’s store said: "Although this store deals only in men’s wear, at least 75 per cent of our customers are women. “On Saturday mornings some women come in with their husbands or boyfriends, otherwise they shop alone for all kinds of men’s clothing.” In America rather more than in. Australia, women have executive positions in big businesses. Mrs. Charles Knox, of New York, for instance, inherited her husband’s nearly bankrupt business seme years ago. Business Heads She was made president of the company and became one of the first successful women industrialists by saving the business and building it into a highly profitable concern. There are many other American women, who by adroit use of feminine psychology, have developed flourishing businesses in the face of determined male opposition. So far there are few women executives in Australia. The majority of Australian women prefer to be the "power behind the throne,” according to the Feminist Club president, Mrs. P. Worboys. “Women, ostensibly secretaries or junior executives, are the virtual managers of many concerns,” she said, “but when credit for initiative or achievement is due, it, goes to the man at the top.” Even on the Stock Exchange women are becoming a power. Big- Investors

' In America and Australia, Stock Exchange officials explain this partly by quoting the number of men who buy stock and real estate in their wives’ names, thus minimising their own income tax.

“But more women these days are investing for themselves in ‘safe’ companies,” said an Australian Stock Exchange official. Also, an average woman’s life cycle is approximately two years longer than a man’s and 70 per cent of men’s estates are left to women. Statistics show that 64 per cent of women leave their estates to other women. And in America at present there are more women than men. In Australia it is estimated that in five years the female population will be greater than the male. So it appears that very shortly, in every sphere of life, the female will no longer be the “weaker” sex.