TARIFF PROTECTION

Southland Times, Issue 21097, 31 May 1930, Page 12

TARIFF PROTECTION

AUSTRALIA’S INDUSTRIAL FUTURE

NEW GRAMOPHONE RECORD FACTORY.

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 Commonwealth for the manufacture of a wide range of products, from matches to gramophone records. Formerly, most of these lines were imported into the'eountry, but now, with the Scullen tariff barrier, overseas concerns dealing with the profitable Australian and New Zealand markets have come to realize the tremendous advantage of operating their own factories “on the spot” 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 Vocalion (Australasia) Ltd., a new company formed for the purpose of taking over the already well established business of Vocalion (Foreign) Ltd—a subsidiary of Vocalion Gramophone 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 5/- 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 New Zealand public have been given the opportunity to share in the tremendous profits that are being made by the gramophone industry of to-day. Already great interest has been aroused, amongst business men of this city in this new development of Australian protective tariff and the preliminary announcement of the new company is awaited with some eagerness.