MINING INDUSTRY
SLUMP IN ENGLAND SYDNEY, December 17. In England the mining industry is in a bad way, according to Professor James Park, of the University College of Otago, New Zealand, . who arrived in Sydney on Saturday. Metal mining was having a very lean period, he said, while coal mining was passing through a period of extreme depression. Potential output, he explained, was much greater than the demand, and a great many collieries were closing down from time to time, as there was no market for their production. This state of affairs was in a great measure due to the competition from Belgian and French coal. France, by the Treaty of Versailles, had control of the mines of Alsace and Lorraine, and besides this, Germany had to pay her immense quantities of coal yearly from the Ruhr Valley. This coal, which she obtained, so to speak, for nothing, she was able to market very cheaply, with the result- that she was cutting in on markets formerly controlled by England to an extent that was ruining the British industry. The reduction in the number of engineering contracts secured by English firms, resulting in a restricted local use of coal, was accentuating the depression.
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Poverty Bay Herald, Volume LIV, Issue 16839, 31 December 1928, Page 12
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202MINING INDUSTRY Poverty Bay Herald, Volume LIV, Issue 16839, 31 December 1928, Page 12
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