STATE ENTERPRISES.

Hawke's Bay Tribune, Volume XIII, Issue 19, 5 January 1923, Page 7

STATE ENTERPRISES.

FAILURE Ilif NEW SOUtfft WALES. If the same hesitation that has been manifested in closing down the trawling industry had marked its establishment, New South Wales would be a littlo richer than it is to-day (writes a Sydney correspondent). But now the indecision has given place to definite announcement that the State trawlers, plant, and equipment are to be sold as soon as possible., The accumulated loss on the industry, since its establishment four or five year" ago. amounts to neariy £200,000. It has had trial after trial to make good; indeed, the procession of managers w ho have been given an opportunity lo make the enterprise pay borders on the unique. The one and inevitable result has been the continual narration of losses year by year. The climax came when the Public Service Board reported after exhaustive enquiry that it was quite impossible for the industry to yield a profit on the amount of capital invested, and that even’if the capital were written down to the present value of the productive assets, the prospects of making any substantial profit were too problematical to justify the risk of loss. The State timber yards are also to go. They have been an even greater drain upon the taxpayer, the accumulated loss, amounting to £226,917. It hasjieen that if they had been awal'.for, nothing a few years ago‘thie> State, to-day would have been ' vlf. tlrguWajie Government is going to ' , (wHiere Rolicy of getting rid pt: ' all non-paydn’g State enterprises it has ktfll some to go.