THE STOCK MARKETS.

Taranaki Daily News, Volume LIV, Issue 131, 24 November 1911, Page 5

THE STOCK MARKETS.

REVIEWED BY MR. R. S. ABRAHAM. ABNORMAL LAND PRICES. By Telegraph—Press Association. Palmerston North, Last Night. At Abraham and Williams' annual meeting to-day, Mr. R. S. Abraham (chairman of directors), in reviewing the prospects of the stock markets, said that the probable expansion of the frozen meat and butter markets to foreign countries, the increased spending power of the workers resulting from their efforts to obtain better pay (which must be more or less successful), the reduction in the flocks of the world and the universal demand of the masses for better conditions generally, must necessarily react in increased consumption of our product, and therefrom better prices. At the same time there seemed some danger of an over sanguine view being taken by investors in land. Prices seemed to be advancing abnormally, and another season such as last,year would have a most disastrous effect on recent buyers. This danger might be rectified by the large number of properties -now being put up or that will be so in the near future.

Wool appeared to lie nmler a temporary cloud, and a drop of something like 2d per lb at the recent sales was sullicicntly serious. Whilst this was the result mainly of the drop at Home, no doubt (he liuvers' strike had something to do with it. This had been settled en reasonable lines. an<l there was no reason why the business should not be carried on amicably in future. Colonial woo! sales have now assumed such importance, and were so well attended by buyers from foreign countries, that with few exceptions growers of smaller clips, say of .")<! bales or under, could practically obtain London prices here, and thus save cost of freight, insurance, etc., whilst they had the additional advantage of knowing precisely how they stood, and were in no danger of having to pay reclamations of money which they had already spent and forgotten. The price of store sheep, more particularly breeding ewes, should be good this season, considering the considerable decrease in the flocks of the Dominion which. had been intensified by a very light lambing season. The meeting declared a dividend of 6 per cent., and carried ;C2OS3 to the reserve fund, making it .€BOOO. The firm had reduced its liabilities by £BO,OOO in three vcars.