Items of Interest June 30, 1917 Issue

Items of Interest

A statement relating to the Federal Government supervision in Australia of company promotion and the increase of capital by existing companies was issued by the Prime Minister's Department on April 20. It shows that 86 per cent of the applications for the raising of capital required was granted, while 8 per cent was not proceeded with by the applicants. The statement adds that many companies would have been floated but for the restrictions, the promoters preferring not to face the Government criticism. The intention of the regulations was mainly to provide against the speculative element in the formation of new companies, and to insure, as far as practicable, that capital raised should be for the extension of manufacturing and producing concerns in the Commonwealth. Company promotion, except for bona fide objects, has been restricted. Particular attention has also been given to the nationality of all shareholders of all companies requiring extension of capital.

It is claimed by a person in Melbourne, Australia, that by a newly discovered process, even with the present crude equipment, sole leather can be tanned in seven days, sheepskins in one hour, ordinary hides in from one to six hours (according to weight), calfskins in six hours, and fur skins, such as rabbit and the like, in three days. The process plumps the leather as little or as much as is desired until the maximum is reached, and increases the strength as much as 500 per cent over normal. The durability of the leather is also said to be increased, and leather ropes and buckets in use in Australian mines for the past sixty years, the leather of which was tanned by practically the same method, are offered as proof of the claim. The New York district office of the Bureau of Foreign and Domestic Commerce is in receipt of samples of this leather, which will be on exhibition later–at various district offices.

It is estimated that there are 3000 hand looms in Changsha, China, all engaged in the manufacture of cotton piece-goods, fancy and plain, known to the trade as nankeens. These looms are small wooden onse with little or no iron about them, manufactured for the most part locally, although some are imported from Shanghai or Japan. They are scattered in small groups about the city, sometimes singly, sometimes in groups of as many as fifty.

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