Losses on Exports of Canad Cattle.

Waikato Times, Volume XXIV, Issue 2003, 9 May 1885, Page 2 (Supplement)

Losses on Exports of Canad Cattle.

Although it is estimated that the absence of all restrictions on their importations, affords shippers of Canadian cattle to great Britain an advance of at least $15 per head over their competitors in this country, still the business, during the paa\. year, has been far from profitable to most of them engaged in it. So heavy, indeed, have been the losses of some of the shippers, that they arc either going out of the business altogether or greatly curtailing their operations. Lingham, of Montreal, the most extensive operator, who began the business three years ago with a capital of nearly a million dollars, confesses that he has lost the bulk of his fortune by unfortunate ventures. Johns it Johnston, second on the list of great operators, have found the trade equally unremunerative ; while the lossea of Morgan <% Co. have been extremely heavy, and a number of smaller operators have been forced to abandon the business. Several banks in the Dominion, which made advances to these firms, are, it is reported, likely to suffer oonsiderabls loss, as the collaterals they hold will, when realised, probably fall short of covering the sums advanced. Moreover, the large cattle salesmen in Liverpool, London, and Glasgow, who acted as agents for the exporters and made advances on the shipments, are also largely involved in the disastrous results. It must not be supposed, however, that all shipperß have been losers ; for some •who have acted prudently and conservatively, have saved themselves from loss, even if their gains have been small. The raisers of beef in Canada and the consumers of beef in England, have been the ohief gainers by the lessee of tho exporters, for the former have got high prices for their cattle, and the latter have paid low prices for their meat. With greater caution in buying on this side of tho water, and keener foresight as to the extent of the demand on the other, there is not a particle of doubt that the Canadian cattle trade is capable of large and profitable development.