DEPRESSION IN AUSTRALIA.
Mo»bjj> «'is hardeninflt m Melbourne (write** correspondent of ithe Sydney. Mail), and I understand the banks 1 have •topped all advances to land syndicates.' These have been having a rosy time of it for the last three years, and large fortnnea have been made i by some of those who were "m the swim . " Hitherto we have escaped the < .wave of depression v?hich has swept over. the neighbouring colonies; but na our noaricial institutions are taking m sail, it looks as if the bar draeter is falling. The fall m the price of wool and sugar has been severely felt m this city, where large interests are held m squatting property and m the sugar plantations of Queensland ; and now comes the news of the §ad disaster that baa overtaken the island of Fiji, m which, also, a good deal of Molbourne capital has been embarked. Then, again, speculative buildingoperations are much lets active : than they were ; and the compulsory closing of shops at an early hour, ; by the Factorie» aud Shops Act, is telling moat injuriously upon the retail trade of some of the poorer surburbs, so that T shall not be at all surprised to hear the cry of "hard times 11 raised before we have got into the middle of winter:
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Bibliographic details
Manawatu Standard, Volume XI, Issue 1682, 12 April 1886, Page 2
Word Count
217DEPRESSION IN AUSTRALIA. Manawatu Standard, Volume XI, Issue 1682, 12 April 1886, Page 2
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