AUSTRALIAN AFFAIRS

New Zealand Herald, Volume LXX, Issue 21469, 18 April 1933, Page 10

AUSTRALIAN AFFAIRS

AN OPTIMISTIC VIEW PROGRESS OF NEWCASTLE Optimistic views of the economic outlook for Australia, and particularly of the future of Newcastle, are entertained by Mr. J. Hogan, woolbroker and stock salesman, of Newcastle. Mr. Hogan, who was born within a few miles of Auckland, but who has lived for tho last 40 years in Australia, arrived yesterday by the Monowai on a trip to recuperate his health. He is largely interested in sport, being president of Tattersalls Club in Newcastle, a member of tho committee of tho Newcastle Jockey Club and of the committee of the Northern Registration Board, the body which governs racing under the Australian Jockey Club's rules. "I think we are over the last hurdle now," said Mr. Hogan, "and it looks as if the future holds something good for us." Generally speaking, Newcastle had gone through one of the most tragic financial periods of any part of Australia. Shipping, however, had become very brisk recently, and large amounts of coal were being sent to the East. Another most important trading factor was the huge quantity of wheat and flour being despatched to Hongkong, Shanghai and Japanese ports. This was no doubt a result of the hostilities between China and Japan that first broke out at Shanghai. It had been a great help to New South Wales whoatgrowers. Regarding the future of Newcastle, the Broken Hill Proprietary Company was establishing large subsidiary works, a hide manufactory and a huge tin plate works at Broken Hill, which were expected to be ready at the end of the present year. The manager of the company had assured him that when these works were established, taking unemployment on its present basis in Newcastle, every one of tho unemployed would bp absorbed. Wool was becoming an important factor in Newcastle.