A LEAN YEAR
CONDITIONS IN AUSTRALIA PROSPECTS NOT BRIGHT (Received Dee. 31, 11 a.m.) SYDNEY, Dec. 31. According to the Sydney Herald the year just closing has been a lean one in Australia. This condition has been brought about by a combination of adverse circumstances, notably the lower prices for primary products, droughts, intense industrial disturbances, and a reduction of overseas capital used for investment in Australia, The profits of companies also have been generally lower, and in some cases heavy losses have been reported. The newspaper predicts another lean year owing to the fact that deflation has simply been postponed by the high price of wool and by the great amount of money borrowed in the markets of the world.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17146, 31 December 1929, Page 7
Word Count
121A LEAN YEAR Poverty Bay Herald, Volume LV, Issue 17146, 31 December 1929, Page 7
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