CANTERBURY PROSPECTS.

Taranaki Daily News, Volume LI, Issue 59, 28 February 1908, Page 3

CANTERBURY PROSPECTS.

DKY WEATHER INTERFERES WITH MARKETS. Per Press Association. Christehurch, Last Night." 'The. continuous dry weather is responsible for a groat falling-oil' in the shipinoiits of lambs,'' stated the president of tile Canterbury Chamber of Coinnierce at the meeting yesterday. He went on to .say Unit the exports from Canterbury were some 300,000 careasonless than at the corresponding date of last year, and this shortage was very likely to be overtaken this season. Rain was never more urgently required, and that at once, so that the grass might have a chance of springing before the frosts set in. On the other hand thegrain crops have harvested in excellent condition, and the yields generally have exceeded the estimates. Opening prices have been excellent, but the serious fall in the London wheat market during the past few days foreshadows lower values ruling. He continued: ''lt has Income quite an axiom that abnormally high prices' in any article largely 'reduce consumption, and this is being demonstrated -by the somewhat Sudden reduction in values that had recently been cabled. A leaflet issued by the' P.ogis-trar-General giving the estimated value of production for 1905-6, with a total of t;41,1/)3,70!l. must tend to give a comfortable assurance that in spite of heavy indebtedness to bond-holders New Zealand is in a healthy and vigorous condition, commercially and financially, and that though setbacks must occasionally assail her. yet her prosperity is founded on a sure foundation, and, therefore, will steadily increase a- the war, roll on."