AUSTRALIS INDUSTRIAL FUTURE

Hokitika Guardian, 31 May 1930, Page 2

AUSTRALIS INDUSTRIAL FUTURE

NEW GR.AMAPHONE RECORD FACTORY. . ,

EFFECT OF TARIFF PROTECTION

During the past few years there has been rapid expansion of Australia’s secondary industries, and to-day there, is an ever increasing number of factories being established in the Coni') non weal fch for the ’manufacture of a wide range of products, from matches to gramaphone records.

Formerly most of these lines were imported into the country, but now, with the Scullin tariff barrier, overseas concerns dealing with, the .profitable Australian and New Zealand markets have come to realise the- tremendous advantage of operating .their own factories ‘on the spat’ and have consequently opened up branch, factories in the Commonwealth. Some companies have even gone a step further and have decided to operate on Australian and New Zealand capital so that the profits earned by the industry be retained in the two countries. One notable example of this, is the formation of Vocation (Australasia) Ltd., a new company formed for the purpose of ’taking over the- already wvjfl established business of Vocalion (Foreign) Ltd.— a subsidiary of Vocalion Garmaphone Co., Ltd., of London. This parent company still retains a large interest in the Australasian branch.

The shares of this company have been purposely made os • each in order to place them within the reach of the largest number of investors throughout Australasia, and it is interesting to note here, that this is the first time in history that the Now Zealand public have I wen given the opportunity to share ip the tremendous profits that are being made by the gramaphone industry of to-day. Already great interest has Leon aroused amongst business men in this new development of Australian protective tariff and the preliminary announcement of the new company is awaited with some eagerness.