TRADE SLUMP.
MANY FIRMS CLOSING. BRADFORD HOUSES IN DANGER. Bj Tel»jras>n.—Pros Asm.—CopTtljM; Received Oct. 5, 8.10 p.m. London, Oct. 9. There are further indications of trade depression, and more reports of unemployment increasing. The secretary of the National Union of Manufacturers says reports are coming in daily announcing the cessation of fresh business, chiefly because manufacturers cannot compete with foreigners, especially Americans, Germans, and Japanese, owing to excessive British production costs. , The Daily Telegraph states the slump in wool prices is seriously affecting Bradford. It is hinted some firms are In difficulties, and there are persistent rumors that well-known houses are in danger of collapsing. It is believed a certain amount of price-cutting is proceeding quietly in order to realise on stocks, though this involves a loss on expenditure.:—ius>-N.Z Cable Assn.
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Taranaki Daily News, 6 October 1920, Page 5
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131TRADE SLUMP. Taranaki Daily News, 6 October 1920, Page 5
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