DIAMOND SLUMP.
COLLAPSE OF THE MARKET. CRISIS IN KIMBERLEY, CAPETOWN, November 22. Owing to the collapse of the diamond market a serious crisis lias arisen at Kimberley. A mass meeting of trades unions was called to consider the announcement of drastic retrenchment. The general manager of Dc Beer's stated that things could not be worse. The diamond market was absolutely stagnant, and America was the only market at present, and all her purchase? came from Russia. There would Tie retrenchment of 050 Europeans and 1500 natives. The meeting, realising that this would mean an unprecedented blow to the town, adopted a resolution requesting the Premier to meet De Beer's and local representatives to consider means of alleviating the position. — (A. and N.Z. Cable.)
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Auckland Star, Volume LII, Issue 280, 24 November 1921, Page 5
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123DIAMOND SLUMP. Auckland Star, Volume LII, Issue 280, 24 November 1921, Page 5
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