3 JANUARY 1931, Page 34

SULPHIDE CORPORATION.

Thanks to the conservative policy adopted for some years by the Sulphide Corporation, the directors are now able to produce a sound balance-sheet, albeit the net profit for the year, of course, showed a heavy decrease owing to the situation in Australia and the fall in the price of metals. In his address at the meeting of shareholders, the Hon. Vicary Gibbs gave a very interesting review of what he described as " the extra- ordinary collapse " in the price of metals, remarking that there were indications that a more effective regulation of outputs, and more effective rationalization, was being developed by the various lead, zinc mines and other industries, which together with an improved outlook should cause a rise in the price of these metals. He further stated that in con- junction with other companies at Broken Hill the directors were endeavouring to arrange a new agreement with the Unions, the old agreement having expired some months ago. In the meantime, whilst metals continued at the present low prices he considered that the proper course was to pursue a temporary suspension of work, which, with the assistance of the employees in a revision of labour conditions, the directors hoped would be of brief duration. Mr. Gibbs then referred generally to conditions in Australia, and spoke hopefully with regard to the future, always, however, basing the optimism on the belief that the authorities would face courageously the economic questions which pressed for