The Guardian (And Evening Star, with which is incorporated the West Coast Times.) MONDAY, JAN. 21st, 1924. THE ECONOMIC CONDITIONS.

Hokitika Guardian, 21 January 1924, Page 2

The Guardian (And Evening Star, with which is incorporated the West Coast Times.) MONDAY, JAN. 21st, 1924. THE ECONOMIC CONDITIONS.

Tut: economic conditions of New Zealand appear on tlw surface to ho extremely good, and when the New Yoai dawned they appeared to he very good indeed, hut now a new appraisement of the situation is necessary, lor some changes have, occurred which are moro or le.-fc of an adverse character. The first matter that- calls for attention i: the very diy weather experienced oven the greater part of New Zealand. Almost throughout the North Island and in Canterbury, and some parts of Otago, the rainfall this summer has been insufficient- for successful farming, ami this insist euiU-HJ enormous loss. In the dairying districts the grass is dry and withered a ltd devoid of nourishment, and the milk yield must inovftably decline, and the output of butter anil cheese- contract. There will he a scarcity of fat stock for freezing for export, and this will be particularly the case with lambs. A very large proportion of the lambs exported this season will ho of inferior quality—second grade and lower—and tTTis must seriously affect the incomes of the farmers. Tile position is so bad in the Hawke's Bay District that, the farmers are sending their stock to more favoured districts on agistment., hut not much can ho done in this respect. Fortunatoly the weather has been particularly favourable for shearing, and the season's wool clip must now be in the shods. Fortunately, too, the bulk of the clip is being marketed in the Dominion, and the wool growers are handling their wool cheques quickly. What this means may ho illustrated l.j the happenings of the past few days. At Wanganui a wool sale was held on January 4th. whan 22,500 hales were offered and approximately 21,500 hales Mild; at Napier on 10th. January, 32,Cor. halos were olfered, and about 30,500 hales sold, while at Wellington on January 15, a. further 32.000 hales were offered and 31,000 bales sold. At these three sales 83.000 hales were sold, and as the wool buyers pay for their purchase 14 days after the sale, the proceeds of the 83.000 bales sold will he distributed to the growers by January 29th. The proceeds of the wind sohl at Wanganui is distributed on Jan. 18th., wool sold at Napier, on January 24tli, and wool sold at Wellington on January 29th. Taking the average price of this wool at £l(s—it is believed to be a .little more—then npTiroxi'matcdy £1,300.000 will he distributed in the Hawke’s Bay, Wellington and Wanganui districts, and the distribution of so largo a sum must have a brightening influence all round, and engender optimism of an extreme character.