FUTURE PROSPECTS.

Dominion, Volume 7, Issue 1871, 3 October 1913, Page 10

FUTURE PROSPECTS.

• > c GRAIN AND PASTORAL OUTLOOK. { In his address to tho shareholders of ; the Canterbury Farmers' Co-operative \ Association, -Mr. John Talbot (chair- ( man of-directors) had something to say j concerning the future. He said: On j tho whole, the outlook for farmers is ] good. .We have passed through a E phenomenally fine winter. The crops , are looking well, grass is plentiful, and j the land, on account of the absence of ] winter rains, has becomo set. • The ] market prospects for' tho coming year ( for grain growers are not, however, r very good. In the'past year there has j been no export of grain. There is pro- ( bably little or no increase in the area sown in wheat this year, but we have no means of knowing exactly what that area is. We do know, however, that ever so small a surplus has the effect of keeping the price down to export level. * An average yield of about 32 bushels ! an acre over some acres will £ supply our own requirements, and any- e thing over that will unduly depress, 1 prices. Farnjers have no chance «f j counteracting that except they can ar- c rive at some arrangement by which i the surplus may be exported. With ' the surplus out of the way, the prico •of wheat would rise to approximately 1 the import value. This is a matter more , especially for the Farmers' Union to i deal with, but this association might i assist by. arranging freights, etc. No ? doubt the step indicated would be at- : tended with very great difficulties. The 1 success of the movement would depend 1 wholly upon a fairly correct estimate of 1 tho quantity of wheat available for export. The Goverhment at present do not care to. undertake the collecting of accurate returns of areas in crop, and this is a great necessity in the business of grain growing and, marketing. There should not be a greater difficulty in collecting, grain returns than there is in getting in. sheep'returns, and the figures relating to grain are certainly more important to farmers than those concerning sheep. If no definite arrangement is made among farmers to send away their surplus wheat, it is desirable that it should be shipped out of the country. Unless things alter very materially, prices for grain noxt season; cannot be anything great. The prospects for oats are worse than those for wheat. Tho general use of . motors and motor traction seems to have decreased the demand for this cereal. Last season.there was supposed to be a-shortage', but the price has not gone up. If oats go out;of.use, as they .tfeem to be doing, some parts of tho Dominion will be seriously affected. The high hopes entertained in the autumn regarding tho future of the potato .market havo unfortunately not been realised, and growers and speculators who held for a rise have in .consequence suffered a keeii disappointment. Good business was expected from Australia, but no demand set in from that quarter. It is difficult ' to_ know what can be dono . with . the fairly large; surplus that now remains in thei Dominion. The collapse of the market must have been felt severely by those of our smaller shareholders, 'who devote a. good deal of ■ attention to potato-growing. Indications in connection with the pastoral industry are exceedingly bright. Thero is not much doubt that the lambing will be a good one, and "there is no reason to supposo that the good prices for mutton, lamb, and wool will not be maintained during the coining season. The effect of placing wool on the free list in the United States may be somewhat uncertain, but the general impression is that it will do . good. This opinion is borne out by tho favourable cablegrams just to hand, referring to the wool sales now open in I.ondon. It will probably mean that America will now take some of our hoarser, heavier wools. Tho dairying industry is still in a good position, and i 3 rapidly growing in volume and importance,- particularly in tho North Island. Tne exports all round to the end of August show tho country to be in a sound position, they having increased in value by between three and four million pounds. Thero is, however, a. continued stringency in the monoy markot, affecting all our banking and •commercial institutions, and unduly raising the rates of interest. On the other hand, thero seems to bo sufficient money availablo to meet all requirements for mortgage purposes and for investment on good security at tho increased rates demanded. It might be noted in the case of our own association that our lending shareholders are able to provide, for. all the. requirements of the borrowing ones. ' At. the present moment there is ovidence of a'tendency towards easement, and as. there-is still a good' doniand for'capital'it is to be hoped that this tendency will be realised, and the rates again fall to tho normal level. Tho in money matters has acted in the direction of restricting tho amount of land that is changing hands, a circumstance that is not to be regretted, as the price of land is "already.high enough._ Prices have, however, shown 110 dcclinc, but havo 1 been well maintained. 1 Develop the milking propensity and 1 high butter-fat test by using the "Gil- ' ruth" Calf Fcotl. The constitution- ' builder. ■ It is not .only the best, hut also \ the cheapest.—Advt. ! ~ I- The Ginelle Lock on the Seine is so , constructed that one man can open or ■ shut it by simply touching an electric button as. 'he sits in his office.