TRADE OUTLOOK
PENINSULAR. COMPANY. 1 United Press Association—By Electric , Telegraph.—Oopy tight.) (Received this dn? nt 10 30 a,m.) London, dqc. 10. “During my lengthy experience I have never known trade to be as bad as it .has been during the past few •months”’ said Lord Inchapa at annual meeting of the Peninsular 'Company. He said the disturbances, lawlessness and boycott in India, conditions in Australia, and civil war in China, added to the severe fall of the sterling value of the dollar and tael, had seriously affected shipping. The financial situation in Australia causes a grave inconvenience. We have a large sum of money lying there which we cannot get honxe, except at a heavy discount, which we do not like to pay. In the meantime, the money is lodged in the banks and is earning a fair rate of interests. The prospects facing shipping are far from brightdespite efforts to economise. We have now decided to reduce the insurance fund from three millions to one million, and to apply the other two millions for depreciation of the fleet.
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Hokitika Guardian, 11 December 1930, Page 5
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179TRADE OUTLOOK Hokitika Guardian, 11 December 1930, Page 5
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