STATE INDUSTRIES IN AUSTRALIA
NATIONAL DEPARTMENT PROPOSED
TEN MILLIONS TO BE SPENT
Sydney, Jnne 21. The Melbourne correspondent o£ the "Daily Telegraph" states that the Federal Government is considering the expenditure over a term of years of ten millions on the establishment of certain factories under jbiut Governront and private supervision. A National Industrial Department ivith a group of ex* perts is proposed. If npphcation 16 made for financial assistance the experts vnll advise as to capitalisation, tariff aid, and. organisation. „' It is proposed to have a Government representative 011 the board of directors, and to limit the profits, the proportion to shareholders not to exceed seven per cent veariv. Excess profits mil he paid; fn"o.the.Consolidated Revenue. Promote ers will obtain seventy-fire per cent, ol Hie net proposed capitalisation at to e pi? cent, interest. It is estimated that fmillion will be advanced the wool industry, half a. million OBi neK chemical industries, and a million on iron and steel process works.-Press As-. Eociation.
REPORT DENIED. (Kec. June 21, 9.45 p.m.) Melbourne, Jane 21. Mr Hughes (the Prime Minister) <W aies any inoiriedge of the repotted new
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Dominion, Volume 10, Issue 3117, 22 June 1917, Page 5
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187STATE INDUSTRIES IN AUSTRALIA Dominion, Volume 10, Issue 3117, 22 June 1917, Page 5
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