HUGE COMMODITY SLUMP

Taranaki Daily News, 7 June 1930, Page 11

HUGE COMMODITY SLUMP

COLOSSAL LOSSES IN BRITAIN

BEDROCK IN SEPTEMBER OPINED.

’CONFERENCE CALLED IN LONDON.

By Telegraph—Press Assn. —Copyright. Rec. 7.15 p.m. London, Juno C. When will the great commodity slump end? This is the question asked everywhere. ’Some are of opinion that bedrock will be reached in September, when the effects of the relaxation of the credit restriction will be felt and the disturbing elements of the international monetary situation removed. The Daily Express says immense fortunes have been lost and even the slump of IQO6-7 pales into, insignificance -compared with the present colossal fall in values. The paper illustrates the -big drop in rubber, silver, zine, foodstuffs, textiles and metals. Those involved will attend a conference at London Guildhall on June 17, when the Prime Minister will preside. GERMAN INDUSTRIALISTS >MOVE.. PLAN TO MEET ECONOMIC CRISIS. Rec. 7.15 p.m. Berlin, June 6. Industrialists and trade union leaders -in order to meet the economic crisis will submit to President Hindenburg personally a joint appeal in which they will indicate their preparedness to make pecuniary sacrifice provided the affluent classes agree to an emergency offering or special levy in order to balance this year’s budget. . It is regarded as probable that President Hindenburg will approve.