21 APRIL 1933, Page 34


If only by reason of its vast ramifications and the enormous financial interests involved, special importance • attaches

to the annual meetings of Imperial Chemical Industries.•Both interest and importance, however, are quickened by the fact that the chairman, Sir Harry McGowan, usually makes a speech of importance to industry generally. On the occasion of the meeting held recently Sir Harry McGowan had an exceedingly good report to present, and he explained that much of the improvement in revenue was directly traceable to expansion in home trade and some portion of it was attri- buted to the check which had been given to indiscriminate imports. He pointed out that while the volume of imports into the United Kingdom in 1932 showed a fall of approxi- mately 12 per cent. upon the preceding year, the volume of exports had remained practically unchanged. Moreover, he compared that position with the fall which had taken place in German exports of 30 per cent. and (for nine months) of 24 per cent. for France and 21 per cent. for the United States.

▪ * *