Burns, Philp And Co.

Business Rigidly Controlled.

“WE' have a splendid organisation and a good business, and, short of a political debacle or a world-wide collapse of trade, we see no reason why we should not continue to prosper,” said Mr. James Burns, chairman of Burns, Philp & Co., Ltd., in moving the adop tion of the report and balance-sheet at the 50th annual meeting of shareholders in Sydney on May 16. “If we have any faith in Australia,” he continued, “it stands to reason there must be chances in the future as there have been in the past, and we hope we will not neglect to seize them as they come along.”

It had to be realised, added Mr.

Burns, that the extremely low prices of most primary products were affecting the buying power of the people, and that general reduction of trade was causing keener and wider competition. At the present the price of copra in the Islands was poetically at a record low level.

The company had been helped by cer tain gold activities in the Mandated Territory, but had never had such severe competition in the Pacific from other nationalities as at present.

Dealing with the company’s branches, the chairman mentioned that a block of buildings at Bowen had been completed during the year, and that the business in Queensland was expanding. In Western Australia, conditions were more difficult and competition was keener.

The Java branches were having a lean time, as kapok, coffee, and other lines the company handled were at low record levels. The company was interested in Burns-Philp Co., of San Francisco, but had moved along extremely conserva tive lines in both Java and America, because these places were so far away that it was difficult to control any speculative business in the uncertain times when prices and exchanges altered so rapidly. On the whole, the business had been rigidly controlled.

The company had expected its new motor vessel, now building on the Clyde, to be launched about the end of July, continued Mr. Burns, but it was not likely to be completed before the end of September. It was intended to replace the “Mataram” in the Solo mon Islands trade, and would be the first vessel the company had ordered with two-cycle Diesel engines.

Although he did not intend to speak economically or politically, Mr. Burns said that he would like to say that, after travelling through Canada and parts of America, Europe and the United Kingdom, he thought that Aus tralia was in a better position all round than any country he had seen. Now that the referendum in favour of a re formed Upper House had been passed, things in this State should improve, as there would be more continuity of a definite policy. —'“Sydney Morning Herald.”

Mr. Charles G. Howell, Attorney- General in Fiji, accompanied by Mrs.

Howell, arrived in Sydney on June 19 by the “Mariposa”. They are on their way to the Malay States, where Mr. Howell will take up the position of legal ad viser to the F.M.S.