DEPRESSION IN U.S.A.

Hokitika Guardian, 16 August 1930, Page 6

DEPRESSION IN U.S.A.

TRAVELLERS’ IMPRESSIONS

Mr 1). Carter, Auckland manager for the Union Company, returned by the Aorangi after a trip to Honolulu, Canada and the United States. He said on arrival that there was a trade depression in the United States, and many business men were beginning to complain. There was much unemployment. As far as the Hawaiian Islands were concerned, however, there had been a record pineapple and sugar cane crop. Prices for pineapple were good, but those for sugar were down. It was anticipated however, that the huge crop of sugar cane'would more than balance the downward tendency of prices in that commodity.

Mr P. N. Jeffreys, of bead office of the Union Company, in charge of trans-Pacific services, was also a passenger by the Aorangi. He too spoke of much unemployment in the United States, and instanced one big railway company which had to dismiss 1200 of its employees on account of a fall in freights. Stockbrokers in San Francisco bad bad to close down.

“Tilings are depressed over there.” said Mr Jeffreys, “but I think they will right themselves. There is no doubt that New Zealand should be considered to be in a fortunate position because in comparison with other places I visited things are not so bad here after all.” “Although there was a slight depression in Honolulu caused by the drop in sugar prices, people did not seem to be worrying much..” said Mr F. Graham, a well-known Christchurch business man, who arrived after a health trip to Hawaii. “They know how to live there, anyway.” he added, “and they enjoy life to the full.”