DEPRESSION BAROMETER

Evening Star, Issue 21005, 20 January 1932, Page 14

DEPRESSION BAROMETER

DECLINE OF SHIPPING TRADE [Per United Press Association.] . WELLINGTON, January 19. “ Shipping is a very sensitive barometer of any financial storms that may oe brewing. Along with other companies the Orient Lino for some time ms been feeling the effects of the depression,” said Mr Colin S. Anderson, London director of the .Orient Line, in •m interview. In the shipping world the passenger services had shown a deplorable falling off, and Australian cargo was being carried only one way, owing to the almost complete cessation of imports into, that country. Luckily, Australia this year had produced almost a record export of primary products, which had helped to make the position more cheerful for the exporters. Unfortunately, however, the freights of most shipping companies lay in one direction. ■ ‘‘The falling off in the passenger trade,” Mr Anderson continued, “applies not only to. the Orient Line, but to shipping in general. For instance, the number of wealthy travellers across the Atlantic has dwindled to an alarming extent, and shipping lines are living on what prudence in the past has _ enabled them to put by for an occasion such as this, which is a very good example of the necessity for all commercial concerns to have something in reserve.”' Mr Anderson added that the people in Australia seemed to have gained confidence, and become more optimistic. He hoped that it meant the beginning jf a recovery from the depression.