AN ESTATE COMPANY

Hokitika Guardian, 24 July 1929, Page 5

AN ESTATE COMPANY

AUSTRALIAN AFFAIRS

(United Press Association.—By Electric Teiegrapn.—Copyright.)

(Received this day at 8 a.m.)

LONDON, July 23

Andrew Williamson, addressing the Australian Estates Mortgage Coy., said despite climatic conditions, sheep had increased Iby twenty thousand last year wherein the drought expenditure was £141,000 sterling. There were 174,045 lambs marked, an increase of 57,000. Sufficient breeders were reserved to upbuild tile flocks; when conditions were normal. This was only made possible by a heavy protective drought expenditure. Livestock sales were £94,000 sterling, an increase of £17,000. Their wool stores handled 42,081 /bales, realising £346,729. Sugar operations were satisfactory though over-production lowered prices 22s per ton. The wool selling general agency business gratify i ugly increased.

The future outlook is more satisfactory in Victoria and Queensland than New South Wales. It is hoped the Queensland Government will promptly disclose its intentions on the line of the Advisory Board’s report regarding the expiring/ pastoral leases, security of tenure being vital. The projected uplinking of the east and west railways of Queensland and New South Wales concerned. the prosperity of all Australians, wherefore pastoralists should not bear the cost. Both Queensland and New South Wales gain by uplinking. It was a fallacious thing that these cross-coun-try lines would only be used in drought time, for a continuous stream of ' ctore cattle, ex-northern territory northern Queensland ship and excentral north Queensland would use the line in all seasons. The railway would make the cattle industry in northern Australia profitable, probably adding £2 per head as well as 2s Od to 5s a' head for sheep values. Stores would he saleable at the age of two years instead of only four or five when fit for road travel.