BAD DAYS IN SYDNEY

Hokitika Guardian, 2 March 1931, Page 8

BAD DAYS IN SYDNEY

RICHES TO POVERTY. POSITION OF RETAILERS. SYDNEY, February 19. The question which class mis siukted most during the current- depression i.s often discussed. Accumulated evidence points to the fact that the sacrifice has been fairly general. There are many who plump for motor salesmen and garage proprietor and it must be admitted that an extraordinary proportion of the unemployed made good incomes out of cars one way or another when times were prosperous. Others award the grim prize to the Sydney publicans. They have suffered immense loss mainly owing to the fact that their leases were arranged in boom times. Tine licensee of the York Hotel, who previously boasted one of the biggest bar trades in the City, recently had occasion to make a certain application to the Court under the Moratorium Act. Outlining his position he said that “owing to the prevailing economic depression he was in debt to the extent of £4,500.” Yet fifteen months ago “his business was so strong that he was offered £75,000 for it.” Bookmakers are running well in the bard hick race. It is said that wagering has dropped 75 per cent., due first to the depression and then to the betting tax. And now it would seem that some of the clubs are going to strike the booknpikers while they are down. One small club has already held a meeting at which bookmakers were prohibited from operating, and because of the' increased amount of money put through the totalisator the club showed a substantial profit—the first profit lor some months. Bookmakers fear that other clubs will follow suit. They also fear the result of the Hand wick experiment- of a straight-out machine.

FACING RUIN. Now, what of Sydney and,suburban shopkeepers? Scores and scores of them are facing absolute ruin. In recent months hundreds of men and women who have lost their jobs have become shopkeepers, hut the purchasing powers of the community have been so reduced that their ventures have failed and they have lost all their savings. A suburban hairdresser reported the other day that his turnover last week was Is. Home haircutting has robbed him of all his trade./ In another suburb the proprietor of a small drapery establishment! said that last week his takings amounted to 5s 9d, and his rent to 255. A tobacconist who in 1929 showed a clear profit of £lO a week cannot now pay his rent and his book debts have amounted to £3OO. Small bakery establishments have been badly hit, and one concern has £5,000 on its books. These figures reflect the state of business in the suburbs only. In the city proper it is probably worse. There are empty shops everywhere, despite the fact that rents have been reduced. It is quite common to see the notice, “Depression rent.” Amid all the gloom of unemployment and shortage of cash the lawyers stand out as exceptions. There are more litigants now than ever before, and when the Law Term opened on Monday a record number of cases awaited the attention of all the jurisdictions.