RATIONALIZATION.
Having dealt with the terms of the new issue of capital, Lord Melehett made some very interesting remarks with regard to industry in general, including the much discussed question of rationalization. He dwelt upon the need for large liquid resources on the part of industry to-day to meet inter- national competition. So far as their own Company was concerned, Lord Melchett said it was too early to speak definitely of prospects, but as far as they could see the results of the current year promised to be better than the one which
has closed. Not the least interesting part of Lord Melehett's statements with regard to the Company was that it now employed in men and women some 53,000, while the share- holders totalled 150,000, with an 'average holding of taw, This means that a vast number of small savings are invested in an industrial concern, which is all to the good.
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