TIMBER INDUSTRY.
SOUTHERN PRICE-CUTTING. 1 here is a keen price-cutting war among sawmillers on the West Coast and among timber merchants in Christehurcli. It will be a fight to the finish this time, according to a leading Christclmreh mejfln>».t. The cause is said to be dne mainly to the supply of timber being greater than the demand, and to the tightness of money following on the raising of the bank rale of interest on overdrafts. Now that the interest rate lias been reduced some hope is held out for the future. Slackening of the demand from Australia for timber is given as another cause of the over-supply. One merchant states that tliei cutting has been so keen for the last six months that it cannot continue. The war has already had its casualty list, for many mills on the West Coast have been forced to close down. Others may follow if the fight lasts much lonsrer.
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Bibliographic details
Auckland Star, Volume LIX, Issue 172, 23 July 1928, Page 4
Word Count
156TIMBER INDUSTRY. Auckland Star, Volume LIX, Issue 172, 23 July 1928, Page 4
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