SOUTH AFRICAN GOVT. PLANS STEEL AND IRON INDUSTRY SCHEME.
By Telegraph.—Press Assn.—Copyright Aus. and N.Z. Cable Association. (Received February 23. 12.15 p.m.) - CAPE TOWN, February 22. The Minister of Labour, introducing the Iron and Steel Industry Bill in the Assembly, said that German experts had reported favourably on the prospects of the industry in South Africa. Under the Bill, the Government proposed to acquire the Pretoria Company and authorise share capital of about £4.000,000. to which the Government would subscribe £500,000 and a guarantee of 5£ per cent, or a million and a half, and raise the next million by 7 per cent preference shares, the Government to have a majority on the Board of Directors. lie denied that i f was a Bolshevistic scheme. The sole intention was to develop the resources of the country.
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Star (Christchurch), Issue 18088, 23 February 1927, Page 9
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136SOUTH AFRICAN GOVT. PLANS STEEL AND IRON INDUSTRY SCHEME. Star (Christchurch), Issue 18088, 23 February 1927, Page 9
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