SEASONAL QUIET
OVER-BORROWING DOES NOT AFFECT AUSTRALIA WOOLWORTH’S HEAD ARRIVES “Over-borrowing doesn’t really matter. In another five years’ time Australia will be on the crest of another wave of prosperity.” This is the opinion of Mr. H. J*. Christmas, managing director of ’ Woolworths, Ltd., who arrived in Auckland by the Aorangi this morning. He has the greatest faith in the future of the Commonwealth and considers that the present period of depression is really only the usual seasonal quietness. Mr. Christmas says that Australia’s wonderful resources, many of them untouched, will get her out of all difficulties.
The Woolworth organisation is to begin operations in New' Zealand very shortly, Mr. Christmas said. The first of the company’s shops will be opened in Wellington on October 4 and an Auckland shop will be opened on November 1 in Queen Street. Two other stores are to be opened later, but their sites have not yet been decided.
Mr. Christmas said that the. company’s activities in Australia had gone ahead marvellously. In five years nine big stores had been opened. During his stay in New Zealand Mr. Christmas will visit the principal centres of the Dominion.
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Bibliographic details
Sun (Auckland), Volume III, Issue 775, 23 September 1929, Page 10
Word Count
193SEASONAL QUIET Sun (Auckland), Volume III, Issue 775, 23 September 1929, Page 10
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