LANG EXPULSION

Hokitika Guardian, 22 June 1932, Page 3

LANG EXPULSION

GIVES IMPETUS TO BUSINESS

REVIVAL IN INDUSTRY

SYDNEY, June 20.

While the combatants on both sides in the -State elections have been throwins themselves into the .struggle, th p city and the have been ra ponding in marvellous fashion to the impetus generated by the expulsion of Mr Lang: It is confidently asserted that builjilig to the amount- of about £3,000,000 will be started in and about .Sydney. A £300,000 hotel, a £500,000 insurance office, a £400,000 shipping arcade, : 'in George Street, a £350,G1)0 block of offices in Wynyard Square, a new nib<i’-' cal research school -at th e University for (£IOO,OOO, are among the chief items in this construction forecast. The Federal Government has asked the Loan Council' to agree to the raising of a £2,000,000 loan on 'behalf of New South Wales to .assist in relieving the

industrial situation. Thousands of workers are no longer on dole, having received work and wages through 'he £4O J 000 grant already - made l-.* :t> ’

Fedcial Government. The standard Portland Cement Company has informed Mr Stevens that it proposes to reopen its works, giving employment to 300 bands.

On May 31, th e “Sydney Morning Herald” pointed out. that three days after Mr Lang’s dismissal, the transfer of capital from Sydney to other State.* which had been going on continuous-

ly for weeks, suddenly eenml. Sihc e VP" f nag's d. ism is- al, Go vernment shock." have risen from £4 10s to £l3 15 the London niarket. In real estate, for three weeks .prior to Mr bang’s down- . fall the average return I week for tlh-e whole metropolitan area . | but for the last two weeks, th e average turnover has been nearly £45,000. Firms dealing in radio and electrical equipment, report a great- increase in Sales ; tb e bookings at picture theatres have increased within the'past fortnight by 15 to 20 per cent. ; garage proprietors and retail traders report very large increases in daily business; and the iState Treasurer reports 'that revenue received (excluding income tax) for the past two weeks has exceeded bv 35 pel- cent, tbs revenue received during the last fortnight of the bang regime. Though during the eighteen month," for which Mr bang hold office, 664 factories in this State were closed down, as soon as the Stevens ..Government took office a company that ha ( J proposed to transfer its -factory and organisation to ’Melbourne"- at an expense ot £IOO,OCO announced that, it would stay here. As further sign* of revived public confidence and optimism, it should be mentioned that several cheques ranging from £SO to “£250 and £SOO have been forwarded to the Treasury an loans.. t f,i;ee of interest, to assist the- new Government in its efforts to grapple with tlbe financial depression. There can be. no doubt that the victory of the U.A.P-.—C.P. allianceat the polls confirm and accentuate these -signs el renewed confidence andreturning prosperity.