Purchase Tax Must be Reviewed
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THE opening of the London Metal
• Exchange for free dealing in lead had been one of the biggest things affecting the battery business, said Mr. John Oldham,0.B.E., J.P., chairman and joint managing director of Oldham and Son, Ltd., at its Motor Show dinner last week. .
He added that this well-tried and experienced private trading institution had accomplished much in 30 days, had greatly reduced the price of lead and had restored London as the foremost market in this metal. It had also removed a heavy burden from the British battery industry in competition with Continental manufacturers.
In industry the shape of things to come was becoming clearer every day. The British automobile and aircraft industries were proof that dollars would follow enterprise, creative effort and initiative. Without a suitable home market, however, industry would not be able to absorb all its costs and this brought into prominence the need for reviewing the purchase tax.
Mr. Oldham referred to the great success of the Fibrak battery. separators which had replaced wood. This Oldham development was now being made in America at the rate of millions a week under the name of Darak.
Mr. S. J, Wrigglesworth, director and general manager, presided_