U.S. SLUMP.
PRICE CUTTING CONTINUES. WIDESPREAD UNEMPLOYMENT. By Telegraph.—Press Assn.—Copyright. Received Nov. 15, 8.30 p.m. New York, Nov. 14. The wave of price-cutting and unemployment continues. Coal, which has been selling at from eight to twenty dollars a ton, has been gradually reduced between 25 and 50 per cent. Production has increased, and the fear of a coal famine during the coming winter has been dispelled. Several important Colorado mines producing copper and zinc have paid off their workers. Four mines which produced ten million tons of zinc monthly will reduce reduction by half, due to the fact that there has been no demand for zinc. Woollen mills continue to close for various periods, some operating for only three days per week. Railroads throughout the country have paid off 100,000 men, and automobile factories in one or two centres have discharged twenty-five per cent, of their personnel.—Aus.-N.Z." Cable ffsafi.
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Bibliographic details
Taranaki Daily News, 16 November 1920, Page 5
Word Count
149U.S. SLUMP. Taranaki Daily News, 16 November 1920, Page 5
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