AUSTRALIA’S FUTURE

Sun (Auckland), Volume IV, Issue 986, 31 May 1930, Page 11

AUSTRALIA’S FUTURE

EFFECT OF PROTECTION NEW GRAMOPHONE FACTORY During the past few years there ha» been rapid expansion of Australia’s manufacturing industries, and today there is an ever-increasing number of factories being established in tho Commonwealth for the manufacture of a wide range of products, from matches to gramophone records. Formerly most of these lines were imported into the country, but now, with the Seullen tariff barrier, overseas concerns dealing with the profitable Australian and New Zealand markets have come to realise the tremendous advantage of operating their own factories *'on the spot.” and have consequently opened up branch factories in the Commonwealth. Some companies have even gone a step further and have decided to operate on Australian and New Zealand capital so that the profits earned by the industry be retained in the two countries. One notable example of this is the formation of Vocalion (Australasia Ltd., a new company formed for the purpose of talcing over the already well-established business of Vocalion (Foreign), Ltd.—a subsidiary of Vocalion Gromophone Company, Ltd., of London. This parent company still retains a large interest in the Australasian branch. The shares of this company have been purposely made 5s each in order to place them within the reach of the largest number of investors throughout Australasia, and it is interesting to note here that this is the first time in history that the New Zealand public has been given the opportunity to share in the tremendous profits that are being made by the gramophone industry of today. Already interest has been aroused among business men of this City in this new development of Australian protective tariff.