WORLD SITUATION

Taranaki Daily News, 30 November 1934, Page 7

WORLD SITUATION

CONDITIONS AGAINST BUSINESS.

RETURN TO FORMER PROSPERITY.

By Telegraph—Press Assn. —Copyright. London, Nov. 27.

At a meeting of the Paterson, Laing and Bruce Company Mr. John Laing, who presided, said that until the world situation brought about amelioration of the adverse conditions militating against the operations of the company they could not hope for a return to former prosperity. , . _ The evil effects of external influence had been to some extent countered by the improvement which had taken place in the interval condition of Australia consequent on the drastic manner in which Australia had faced the situation, an improvement which was reflected in the company’s accounts. It was a matter for congratulation that they had now turned the comer, although they had not gone very far. The board had given earnest, consideration to the question of reconstructing the company and had taken financial and legal advice on the subject. There was, however, a consensus of opinion that no schemes were practicable until the profits reached a more substantial figure. Mr. F. E. Bruce Mead expressed confidence that in time they would reach a basis of profit which, with the release of part of their capital, would enable them to formulate a scheme of reconstruction satisfactory to all.