Embarrassed, But Carrying On
p. 42 · Read in the full issue
A TRUE picture of economic conditions in the Pacific Territories is provided by the half-yearly report of Burns Philp (S.S.) Co., Ltd. Copra is almost unsale able; but most of the Territories are carrying on with alternative industries.
The directors state that, with the British Government holding about a year’s supply of copra and the over supplied Mexican market the only other market available, the value of copra has been below cpst of production for some time. Many plantations and trading stations have either curtailed production or closed down. Several of the company’s inter-island ships have been laid up.
In the sugar and mining districts, mer chandise operations have been satisfac tory and sundry Islands products continue to find a moderate market in Australia, New Zealand and U.S.A.