HAWAII HIT

Wanganui Chronicle, Volume 75, Issue 118, 21 May 1932, Page 9

HAWAII HIT

PINEAPPLE TRADE. : I BIG SLUMP IN MARKET. ( I DUNEDIN, May .19. ' ’ As Mr. A. Moritzson, of Dunedin, ' resided for a considerable time in Honolulu and has since kept in touch 1 with business there, a reporter asked 1 him about tho cable from Los Angeles, I printed on Tuesday, as to the statu of I affairs in that, outpost of the United | .States. Mr. Moritzson buys that there has I a general fall in prices owing to tho world depression, but. the only serious slump was in the pineapple industry r caused by over-production. The Hawaii Pineapple Company produced 6,700,1)00 cases of canned pineapples (tw< dozen cans in each case in the season before last, but had to reduce to 4,863,110 cases last season owing to the slack demand brought about by the tightness of the money in the United States and the utter collapse of the market. The company ’3 shares, which eighteen months ago were noted at 61 and 62 dollars, now stand at nine do I lars, the company having had to do without a dividend for the first time in its existence. Small quantities of the company’s canned pines are usually sent to England. Canada, Australia, and New Zealand, but the great bulk of the product is markeiod in the United State*. j