SLUMP IN TRADE

Waikato Times, Volume 93, Issue 14492, 15 October 1920, Page 5

SLUMP IN TRADE

DIFFICULTIES OF MARKETING. FAILURE TO TAKE WARNINGS. CONSUMERS’ TIME COMING. (The Times.) Received October 15, 9.5 a.m, LONDON, October 14. The Times devotes touch space to the break in prices. It says it is suggested that the fall in commodities is making it difficult for holders to market goods at all, but the public are unlikely to waste sympathy upon those speculators who turned a deaf ear to the warning not to hold back but to sell at lower prices. They would have - sustained no loss if they had heeded Hie advice persistently given by bankers in the past two years. The fact is that sellers of goods, especially the speculative element, have, had a remarkably Iona: innings, and Urn consumer is now hoping that Ids turn is beginning to;-a arrive. . :

SERIOUS OUTLOOK IN CUBA. REPUDIATED CONTRACTS. ' (Australian and N.Z. Cable Assn.) Vi Received October 15, 9.20 a-in. NEW YORK, October 14. Messages from Havana state that despite various proposals to remedy the financial situation in Cuba, business remans at a standstill. Many firms ara paying off their men because they fear they cannot meet the pay rolls, and it is feared that no one will be able to pay their employees if the moratorium continues for 50 days. The drop In . sugar is considered only one element inj'j the situation. A large number of repudiated rice contracts and wild speculations in other commodities, notably flour, arc reckoned to be factors in the situation, which is considered most serious. AMERICAN COTTON GROWERS. FACED BY A BIG LOSS. (Australian and N.Z. Cable Assn.) Received October 15, 9.20 ami. WASHINGTON, October 14. Tlie Agricultural Commissioner of Georgia has announced that the South is facing a loss of more than 500,000,- , 000 dollars, as (lie result of Ihe drop cotton prices from 40 cents to less than 20.