London, Jan, 10.
An important announcement con cerning steps to cope with une employment through the reorganization of industry and the re. equipment of factories was made by Mr. J. H. Thomas, the Lord Privy Seal and Minister dealing with unemployment, at a luncheon given by the Manchester Chamber of Commerce to-day.
The Lord Privy Seal said that he was ina position officially to that, "in considering the ste which might be taken to produce Detter employment. position by ime proving the organization and equipent of British industries, I found that a feeling exists."that manu factorers are handicapped in bring ing about the necessary reorgani tion and re equipment by the fact that the long continued trade pression has" pushed to the limits the credit they can reasonably expect. to obtain' from their bankers Gr which bankers can reasonably be expected to provide.
"As a result of the consultations Thave had, 1 am now in a position to state that the City of London is deeply intgresteq in placing industry upon a broad and sound basis and cly to support any plans that, in its opinion, will lead to this end.
"Those in the City who have been studying this matter are con-vineed that a number of our ime portant industries must be fundamentally reorganized and moder.
ized in onder to be able to produce it prices which will enable them to compete with the world.
"Any industry which proposes schemes that, in the opinion of those advising the City, conform this requirement, will receive the very sympathetic consideration and ce-operation of the City in working out plans and finding the necessary finance, ""In the case of individual undertakings, the City will be similarly ready to help, provided the scheme under discussion fits in as a part of the general plans for the industry in question as a whole and gives Yeasonable promise that the changes will enable the undertaking to become an effective unit in combination and ce-operation with other similar undertakings "That is the authorized statement made with the authority and knowledge of the City. It is made deliberately to the business community as a whole, What, after all, does it mean? It is, for the first time, on behalf of the City, fan open invitation to business and industry to come forward with real schemes for organization,"—Reuter, Dutvtm, Jan, 10:—The Army's "Arctic Patrol" of 18 fighting phues, flying from Int. Clements, Michigan, to Spokane, Washington, to conduct a test of-performance of men and machines under adverse conditions, has Ianded: on the ice om Superior Bay—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.