COAL INDUSTRY.

Auckland Star, Volume LXIV, Issue 115, 18 May 1933, Page 23

COAL INDUSTRY.

DEPRESSED CONDITION. PROBLEMS IN WAIKATO. Speaking at the annual meeting of the Taupiri Coal Mines, Ltd., yesterday afternoon, Colonel W. D. Holgate, a director, said that the depression in the coal trade was being felt not only in New Zealand, but all over the world. Among the reasons he gave were overproduction and the extensive use of fuel oils. , Touching on conditions in the Waikato, he said that there were two or three mines too many, and if all were to realise profits the price of coal would have to go up. One difficulty was that people could not be educated up to using high-grade fuel. He said that it was difficult at the moment to suggest a remedy for the present problems, although possible solutions would be a consolidation of interests or the stabilisation of prices at a level within the reach of the consumer. The prices of coal had been forced down through overproduction and keen competition. He said there was over-production in all spheres of industry, and there was no better example .than that of butter in Great Britain to-day. He said that the coal industry had still to contend with strikes. Nine months ago there was a strike over a small matter. The employers won their point, which had been essential, at a very great cost. He also referred to the recent strike, and added that he did not think that there would be any more trouble in the Waikato. Speaking of the Taujjji'i mines, he said that the company had the largest reserves of coal of any mine in New Zealand.