WARNING TO FARMERS.

Taranaki Daily News, 7 September 1920, Page 4

WARNING TO FARMERS.

IIIGII PRICES MAY NOT LAST. DANGER IN LAND SPECULATION. A word of warning in connection With rusli speculation'in land was uttered by Mr. W. D. Powdrell, M.P. for Pfttea, chairman of directors of the Kaupokonul Dairy Company, at the annual meeting of'that company yesterday; Mr. Powdrell said there was no doubt that this was one of the causes why the banks were restricting businefltf.'Ho would say that at. present priced'were exceptionally high, an,d if the pjospeeta continued they were likely to getfrom 2s Dd to 3s per pound lor butVo'-fat. Hut, he added, they should not run away with the idea that prices would continue to rise, because Wjien countries like Siberia and Russia afjpln fjnwd their feet, and New Zealand had to coip< pete with them, it was jn'ore'vthar likely that, price*! wouf4 Coq»e dft)Wn. The banks saw the danger, and sordid the Government and mapy others. Another trouble was that many Were paying exceedingly high prices for only second-class land, and there...might be a rebound. The Loan Company, he hinted, was not going to mate advance} as readily as it had done in the past. He also advised strongly against overstocking, remarking that 75 per cent, of the dairy farmers overstocked, whereai if they carried 8 or 10 cows less they would earn more money.