AUSTRALIA AND THE WAR
STATE TO ASSIST NEW INDUSTRIES.
United Press Association —Ooovrieht. MELBOURNE, June 21. , A correspondent of the Daily Telegraph states that the Federal Government is considering expenditure over a term of years of ten millions in the establishment of certain factories tinder joint Government and private supervision. * A national industrial department with a group of experts is proposed. If application is made for financial assistance experts will advise as to capitalisation, tariff aid. and organisation. ■ It is proposed to have a Government representativeon the Board ox Directors and to limit the profits in proportion to the- shareholders, not to exceed 7 per cent., the excess being paid into a consolidated! revenue. The promoters will obtain 75 per cent, of the- net proposed capitalisation at 5 per cent. It it estimated that one million pounds will’ be advanced in developing the wool industries, half a million for ni3W chemical industries, and a million for iron and steel process works.
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Bibliographic details
Gisborne Times, Volume XLVIII, Issue 4592, 22 June 1917, Page 5
Word Count
161AUSTRALIA AND THE WAR Gisborne Times, Volume XLVIII, Issue 4592, 22 June 1917, Page 5
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