Mr. Guy Answers the Socialists
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AS the result of an attack made on him by some Socialists, Mr. Sydney S. Guy, chaifman of Guy Motors, Ltd., has sent an interim report to the 7,500 shareholders, assuring them that all is well with the company.
A Labour candidate had said that Mr. Guy "was going the right way" to start industrial trouble in the works. Mr. Guy points out that the Socialist Government's policy has cut production and the company has been considering " dispensing with the night shift started under a Tory Government in 1938 and which has been operating continuously in the machine shop for the past 12 years." It was impossible suddenly to introduce other products to maintain employment.
Mr. Guy has published a chart to refute the suggestion that industrialists deliberately reduced production and discharged employees. This shows that when, under a Conservative Government, unemployment dropped in 1923, the Guy company began to show a profit, whereas a loss had been incurred in the three previous years. While the Socialists were in power from 1929-30. unemployment rose to about 2,750,000, and Guy Motors, Ltd., again incurred a heavy loss. With the return to fuller employment that accompanied the accession of a National Government with a Conservative majority, the company's losses were converted into profits.