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] turned out at a factory at Dhariwal in the Gurdaspur district. There were in 1911 fifteen flour mills, ten ironworks, three breweries, and one distillery.

Joint-Stock Companies. — The Panjab has not reached the stage where the joint-stock business successfully takes the place of the family banking or factory business.

Fig. 56. The Potter. (From a picture book said to have been prepared for Maharaja Dalip Singh.)

In 1911 there were 194 joint-stock companies But many of these were provident societies, the working of which has been attended with such abuses that a special act has been passed for their control. A number of banks and insurance companies have also sprung up of late years Of some of these the paid up capital is absurdly small, and the recent collapse of the largest and of two