I couldn't find much information about Art & Industry, but I can tell you it was a British commercial art magazine that was in circulation pre-WW2, at least until the 1950s. I own twenty-one issues spanning from 1937 through to 1941. With the onset of war, the magazine shrunk from 8x11.5"(20.3x29.2cm) to a slim 5.5x8" (14x20.3cm), but the publishers displayed exceptional tenacity by not only surviving paper rationing, but the bombing of their offices during The Blitz. In the November 1940 issue, they report:
"We apologise to our subscribers for the late appearance of this issue owing to air raid damage in which we lost much valuable property and suffered great dislocation of our organisation. This is not our first loss from the raid, but it merely adds to our determination."
In the December 1940 issue they show photographs of the total destruction of their building & relocation from Leicester Square to Covent Garden.
Unfortunately there are no colour plates in the wartime issues (although fabulously colourful covers, as you can see). The two images below are from September & August 1937 respectively. On the left we have Hungarian wrapping papers, & right, a selection of book jackets by Barnett Freedman (top), Edward Bawden (centre), Eric Fraser (bottom left) & Rex Whistler (bottom right).