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Thursday, 14 May 1936

Senator BADMAN (SOUTH AUSTRALIA) - The claims of the Australian Glass Manufacturers Company Limited and other industries making excessive profits are supported by him. The honorable senator said that he would quote the profits of this company, but he refrained from doing so, because he know that they could not be justified. According to figures published in 1933, the Australian Glass Manufacturers Company Limited, over a period of nine years, paid a dividend of 10 per cent. on its ordinary shares and 9 per cent. on its preference shares. It also placed £500,000 to reserve, and purchased £500,000 worth of Australian securities. In ten years it has placed to reserve and expended in purchase. of bonds, an amount equal to its capital.

Senator Guthrie - What is the value of its £1 shares?

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