THE PRICE OF STOCK

Dominion, Volume 12, Issue 90, 10 January 1919, Page 6

THE PRICE OF STOCK

Sir,—l was. amused at the very naive reasons given by the freezing companies for the reduction in their prices - for fat sheep arid" lambs this ;season, and wondered if they thought their customers simple enough to take them all as gospel truth. It would have been inore candid if they had confessed at onco that this was their mode of transferring the companies' war taxes on to the broad backs of the long-suffering producer, who, like the proverbial ox and nss, bears the burden without a murmur, notwithstanding that the fruit of hjs patient labour is taken from him by a patriotic- Government at.about half its. value. /

They never told you when you courteously gave them the opportunity of reply to a previous correspondent that the Imperial Government had given them an additional 25 per cent, on the price of their slipo wool, which should have enabled them to maintain the, old figure, but 4-suppose this half, million odd has been capitalised and added to their reserves,- as it is noticeable that freezing company shares are in demand as investments, in 6ome'cases as high as M for a 20s. share. Ii think they did tell you that pelts had gone down in price, but they have been as 6ileut as the grave about them in the past, and never told their customers thnt they had. risen in value from a few pence each to as' many shillings, nor did they mention that gut .and other parts of the animal, regarded-in the past as re■sidual products, and therefore unpaid for, had acquired considerable value, and had materially helped to enhance tho value of their shares and fill the capacious maw of the gentleman butchers, who, I .am told,, draw princely salaries,out of all proportion'- to the market value of their services,, and far exceeding that of n newspaper editor, or even the Commander-in-Chief of the Forces in France.

The success of these freezing companies is not due to the brain power of the managers, but to the steady aud patient work of the breeder and fattener in pro. ducing an article of food in great'demand at tin? moment. Many of the companies are willing to consign on farmers' account, and. the producers have, therefore, the remedy _ in their own hands by steadfastly refusing, to accept the offer of these buyers and taking the risk of shipment upon their own shoulders. They will hate no reason' to regret it, and the extra price realised will heln in pay the farmers' own war taxes. The freezing companies''can .'pay theirs out of the kidneys and runners and the slipe wool balance of past seasons which we havs been reading about lately.—l am, etc.,. CONSIGNOR.,