REDUCTION OF UNEMPLOYMENT.

Te Aroha News, Volume XLI, Issue 6599, 14 May 1925, Page 7

REDUCTION OF UNEMPLOYMENT.

ACTIVITIES OF THE STANTON IRONWORKS

The Stanton Ironworks Company, Limited, has recently raised a debenture of £1,000,000 41 per cent, interest at 961; the issue having been made by the Bank of England and a guarantee as to principal and interest by the Treasury. The money is required for the development of this Company’s new Billsthorpe Colliery and it is specified by the Treasury that the full, amount must be spent on British labour and British materials; further, that to alleviate unemployment the work is to be proceeded with without further delay.

The above is one of the practical indications of the steps being taken by the present Government to reduce unemployment. The Stanton Company, it will be remembered, is the largest manufacturer of cast steel pipes in the world, has an extensive blast furnace plant and several collieries in Derbyshire and Nottinghamshire.