AUSTRALIAN INDUSTRY

Sun (Auckland), Volume II, Issue 444, 28 August 1928, Page 13

AUSTRALIAN INDUSTRY

“A BIT ON THE SLACK SIDE” BUSINESSMAN’S VIEWS “Business in Australian industrial circles is, generally speaking, a bit on the slack side as far as I have been able to judge, ’ said Mr. E. W. Sharp, New Zealand manager for Mauri Bros, and Thomson, Ltd., Sydney, who returned by the Maheno this morning. Mr. Sharp visits Australia each year and is thus in a good position to estimate trade progress and expansion. “This industrial slackness is rather extraordinary in view of the fact that the Commonwealth loan closed las. week with £7,000,000 in advance of what was required, and the Stock Exchange is particularly buoyant at present,” he added. Mr. Sharp observed that one of the most important additions now being made to the Australian industrial community was the huge steel works which were being built at Fort Kembla fc>y several combined firms. The cost was to run into millions of pounds. “I believe there is a certain amount of unemployment in Sydney as the result of the industrial slackness,” he concluded, “but I did not notice that it was much above normal.”