THE NEW METAL COMBINE

Dominion, Volume 12, Issue 85, 4 January 1919, Page 7

THE NEW METAL COMBINE

■■■•■'■■ . ' ■ '.'"'''■'''* *" V'"v-j •;'",-',r .■ . ALL-BRITISH,; COMPANYTO BE; ■•■ ■ ; ; '- ■■;•;■■ "'"'[ rLOATED/r ■■'.;.. : ";■ .. ' -The London "ifornirig Post" recently. _,:■', published'; the: following statement:— ■. . , ;"We: understand that, negotiations aie : : for the formation of a - : purely British company,-..with, an-autho. ■ ri9ed;.capital of.five millions sterling/ to carry on , business .of all kinds connected '..-..,with the .winning. of. ores, .their.-treat- ■■- tnent, and:the disposal of the metallic -■-products. We i:gather '.that, the; metals i, ' principally ~concerned will- be-copper, 'itin, lead,, and. antimony, and.-that the .. important .petal output of Australia will. come within the-raiige.of influence: of -. ■ ;the new concern;" A', very, strong board of -directors vis 'contemplated, . and the company should , '"be'in a position, to. assume commanding influence as regards ■metals within the , Empire." ■- • v This (says ■ the '"Daily •'• News")' is the first hint "which the general public, . ;."' has] had of a huge enterprise ■ which, if. , 'itis to -justify-.'.its 'five *itiillioii ? pounds 1 , . ..of projectcd'capital.'must aim, obviously, , . ' at. a monopoly.: The ; "IKSrning. Post's"- :■'.;■■ statement;about ;the: "very , ..strong Hoard , ;■'• of,:directors":" appears', to , rest on' sound. foundation; -Some c'f them ' are gentle- -. . ;inen: whose :standih?.nii(l'infliiencecom- ; , mended them to the Government, when : special advisers "-vera i-eeded, and whose ..;. patriotism, impelled them to take a pro : /: niinent part in' r the promotion of the Non-Ferrous Metals Bill, which soughtto safeguard the.trade of,the.country by' ... 'ranking eveiy 'dealer in,:such'inetals ob,',tain a ljcense-rthereby, of course,.'Bring-.' ing" foreign competition under the .closest . .;,'scrutiny. • ,"v.j:.:,;. -.. '■■' '.'.'■'' ;".- ' .-. i.'The. Bill, was , aimed narticulari.y .". ngninst ,'the'. Metallgesellshaft,' the big ..•German concern for which Messrs. Henry ; E. Jlerton.,and..C6.,.Ltd., were formerly! ./the. British, agents;..and when the Bill ■ •■.'became, an Act ;this"year the Board of ;,.'._■., Trade;iefnsed;.to. grant Messrs.- Merton .".' ,a license—whereupon ; thej'V announced :-.•■' their-.decisioii,to.go. into,voluntary liqui- . ~ dation. : ■'What Itlie)- Government -wanted. 1 ■ to .dp,by the Bill, said: Dr... A'dcfisou: in ■ December, 1317, :was to create soine competition. For , eighteen months, he de-. . clared, the'Ministry;of .Munitions wero trying to escape 'from' the.toils of the. : :'''.German.monopoly. ■ : ■'• ■-■~.■■..■■ The , reference to 1-Australia-:■;'in.:. the . "Morning Post's" statement is'especially . " : interesting.in view-of-,the attacks: \vhich ••;■ . Mr. W. M. Hughes'has -made" upon , '"." i Messrs;' Mertbn.','The'.main objects'and ~ 'functions of-the new concern, to be call- :.: i ed; it is understood,'"The British Metal ; ■ Corporation, Ltd.,":. are' these:— ■/■:■..■'■■.■■'"■ ••;■ ■. : "' -..,.. To regain and.retain. fpr.Britlsh;inter: . ■ ests-.the. predominance.'in',the. non-ferrous --■.- ■ metal, trades of ;the.'Euipiro.usuroed in. . -, "recentyears by Germhy organisations.. ■:■ : ■ To.-.-secure' for.-: British-, manufacturers: ...' the raw .materials irieeded for.'their, .trades. ':'•,'■', To-afford the creditsrequired .by users' •.'.■■ pfimetals and ores, and assisthnco to/p'ro- . i ducers, particularly . : within,..the ; Empire. , . ".■.Tα support , •'and ■'sustain: thb.'.general trade of.the-United ■ Kingdom'in--non- .;,. .ferrous, metals,; and especially. to niiiintain the position occupied byj'the market '■■..,; -in London;/ //;;:,-,-?;-.. -,i; , : ::■ '■ : ,,,y;~ : ■.■." • _:To : complement tHe financial side.of the .business by carrying on research work. : ... '..When: this 'huge , , concern brings" <its . proposals_ "definitely-, before .thb : 'pubiic. ;'perhaps_it will give some indication of .-. the measure of freedom, , in the , purchase . . of'-materials, that l will .remain to those •■.'-.■."■ concerned, in tti'e: metal' industries'.;'. ; .-