AUSTRALIAN WOOL INDUSTRY. '
I venture to think that there are few readers of the Spectator who are not deeply concerned with everything pertaining to Empire interests and Empire developments. I am glad, therefore, to draw their attention to the admirable speech which was delivered last Tuesday at the annual meeting of the Australian Estates and Mortgage Company by the Chair- man, Mr. Andrew Williamson. The shareholders in that company will, no doubt, be primarily and necessarily inter- ested in the manner in which their financial interests have been wonderfully protected in the face of unprecedented droughts in the areas occupied by the company. Thanks to the conservative financial policy extending over many years, the figures in the Profit and Loss account are wonderfully good. By a much larger class, however, than that represented by shareholders in this company, Mr. Williamson's speech will be read with interest as setting out in clear fashion the importance of the wool industry to Australia and the serious loss occasioned, not merely to industrial companies, but to the country generally by severe droughts.
* * * *
Previous page
