GIPE-PUNE-OIIOI2 - DSpace@GIPE

R~TIONALIZATION IN INDiAN BUSINESS ENTERPRISE' 231
It is to be remarked that iIi regard to the capital ex:"
penditure 6f some Rs. 30,OO,OOQ-·involved in this seven·
year programme--the directors have decided neither to
increase'the capital nor to borrow of the market. They
have been meeting· the 'expansion expenses from out of
the depreciation reserves. 'This, be it observed, is good
rationalization in industrial finance.
The spirit of cultivating uptodateness in techniq~e
~nd industrial organization,-no matter whether it be in
the enlargement of size or employment of labour.saving
applianceS or installation 'of improved tools and imple.
ments or, the removal, of obsolete methods and
machineries-is nothing new with the works at Jamshed.
pur. All this, is older than the seven·year programme of
1927 and the "Creater Extensions" of· 1924.
Experimenting, revlsmg and changing, iri 'one
word, ".industrial research" has been going on all
.the time smce its very inception in 1911 ;.. 12 .
.In July 1911 ;"':""'two or three months before even the
first coke ovens were fired and naturally long before the
nrst piece of ingriot steel was rolled on the blooming mills,
-'-the uptodateness of the installation excited the admira;"
tion of technical experts. The members 6f the l~dian
Miriing and 'Geological Institute who visited the works
,along witli their president Sir R. P. Ashton made the
following observations -about the labour.saving devices:
•'The coal is carried mechanically into the 'Crushers~" they
wrote, .. and having, been so pulverized that the proiior;'
tion' which: will equal the size ofa pea will b~ less than
Indian Tariff Board regarding the' continuance 0/ 'Protecti~ri to the Steel
Indusry (Calcutta. 1927). pp. 7, 17, 107.111; 'Tariff Board Enquiry'
(Associated Pres., 22 Dec. 1930).