COMMERCIAL

Nelson Evening Mail, Volume LXIII, 24 July 1929, Page 10

COMMERCIAL

QUEENSLAND PASTORAL INDUSTRY A SUCCESSFUL YEAR {United Prosa Association—Uy Eleotrio Telegraph—Copyright) (Australian Press Association.—United Hcrvico) LONDON', 23rd July. Mr Andrew Williamson, addressing the Australian Estates Mortgage Company, said that despite climatic conditions sheep increased 20,000 last year when drought expenditure w.as £141,000. Lambs numbering 174,045 were marked an increase of 57,000. Sufficient breeders were preserved to build up Hocks when conditions were -normal.- This was only made possible by heavy protective drought expenditure. Livestock sales realised £94.000. an increase of £17,000. The wool stores handled 42.061 bales. 14.312. realising £346,729. Sugar operations were satisfactory though over production lowered the price 22/- a ton. The wool selling and general agency business had gratifying!}' increased. The future outlook was more satisfactory in Victoria and Queensland than in. New South Wales, lie hoped the Queensland Government would promptly disclose its intentions on the lines of the advisory board's report regarding the expiring of pastoral leases, security of tenure being vital. The projected linking up of the east and west railways of Queensland and New South Wales concerned the prosperity of all Australians, for which reason pastoral is ts should not bear the cost. Both Queensland and New South Wales would gain by linking up. It was fallacious to think _these cross-country lines would only bo used in drought time, for" a continuous stream of store cattle from the Northern Territory and Northern Queensland, and sheep from Central and North Queensland would use the lino in all seasons. The railway would make the cattle industry in Northern Australia profitable, probably adding £•? a head, as well as 2/6 to 5/a head to sheep values. CHICAGO WHEAT MARKET (Received 24th Jiilvj 9.20 a.m.) NEW YORK. 23rd July. Chicago wheat—July 1381 cents; September 1423; December 150£.