MEAT MARKET.

Taranaki Daily News, 10 March 1921, Page 5

MEAT MARKET.

farmers discuss outlook. DISPOSAL OF MEAT URGED THE FINANCIAL ASPECT By Telegraph.—Press Association. Wanganui, Last Night. The serious position that has arisen in consequence of the fall in stock prices was discussed at a meeting of the Farmers’ Union here to-day. Mr. W. J. Polson, provincial president of the Wellington Farmers’ Union, said the position was critical, and it could not go on, otherwise the country would be faced with a catastrophe. It was the duty of the Government to go in for rigid economy. Mr. G. A. Campbell, representing the Wanganui Freezing Company, held that only an extension of the Moratorium could save the position. He knew an instance of a man who paid £20,000 ou a farm, who, on the previous day, had had to walk out without sixpence, and another man, who had paid £5OOO down, was in the same position. The country was on the fringe of depression, and it was difficult to say what the future would be. The foliowipg motion wfts carried: “That the Government be asked to confer with the freezing companies of New Zealand with a view to some arrangement being made to secure that the Imperially held meat be disposed of as soon as possible, in order to provide an untrammelled market for the free mdat coming forward from time to time.” It was also decided to endorse the following resolution carried at the recent meeting of ’the provincial executive: “That in view of the difficulties in the disposal of primary products, the Premier be asked whether some scheme could be Revised to protect farmers from arbitrary calls from financial concerns by an extension of the Moratorium or otherwise.” THE MORATORIUM ' NECESSITY FOR ITS EXTENSION. LEGISLATION PROMISED. Wellington, Last Night. On behalf of “hundreds of farmers and others faced with serious financial difficulty, owing mainly to the sudden collapse in the prices of stock, wool, and other products”, Mr. W. H. Field, M.P. for Otaki, wrote to the Premier stating that the moratorium was needed much 1 more urgently now than during the war period. If on June 30 mortgagors were placed at the absolute mercy of mort„ gagees, who could call on their moneys ■ peremptorily and demand an excessive rate of interest for renewals, there would be widespread bankruptcy, especially among members of the farming community, and he urged that legislation be passed relieving borrowers of money for a further period without inflicting hardship upon the mortgagees. Mr. Massey replied that he had already arranged to deal with the question of the moratorium during the first session, and the necessary legislation was being prepared.