RATIONALIZING INDUSTRY.
On more than one occasion I have referred in these columns to the fact that a mere amalgamation of companies does not necessarily in itself represent a rationalizing of industry in the truest sense of the term. I believe, however, that when the negotiations now proceeding for the fusion of certain coal industries in South Wales have come to fruition in the shape of an agreement it will be found that they constitute a good example of rationalization in the best sense of the word. It will be recalled that when presiding at the recent meeting of William Cory and Son, Sir A. C. Cory-Wright said that owing to the changed conditions in the industry he was of opinion that a closer association between the productive and distributive side of the industry was essential in any complete scheme for the reorganization of the industry, and that if that could be brought about on the lines of co- operation, whereby the influence and facilities that the larger distributors possess for the maintenance and develop- ment of both the home and foreian markets could be utilized to the best advantage, he felt certain that it would not only be beneficial to the industry generally, but would prove
advantageous to all consumers. If and when the fusion of certain industries in the South -Wales industry is constun- mated. I should expect to find in them a practical applica- tion of the principles elaborated by Sir A. C. Cory-Wright.
A. W. K.
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