THE KAURI GUM INDUSTRY.

New Zealand Herald, Volume XXX, Issue 9341, 26 October 1893, Page 5

THE KAURI GUM INDUSTRY.

For several months pasb a steady decline in the price of all kinds of gum has taken place, which must be producing undesirable results in many country districts. In consequence of the steady decline we have made inquiry at the firms engaged in tho trade as to the prospect of better times. They represent the outlook as very unpromising. They state that the supply, is far in excess of the demand, and that unless there is a reduced production prices must fall lower, and all know how difficult ib is to get prices up again after they have gone down. The suggestion made by several firms was that a number of those engaged in gumdigging should look for other employment during the present season and coming summer, as owing to the disturbance in the silver market in America, and the financial crisis which has resulted, the demand there is practically stopped, and not even the falling prices has had the effect of tempting anyone to purchase for a rise. The merchants here are of opinion that it will bo well into the New Year before the market will have begun to recover, and meanwhile stocks will be accumulating in London, New York, and Auckland, which bespeaks a long dulness in the gum trade.