COMMERCIAL

Gisborne Times, Volume LXX, Issue 11175, 7 April 1930, Page 2

COMMERCIAL

FAR MING OUTLOOK. PERIOD OP UNCERTAINTY. LONDON. Feb. 27. “It is important.’’ said Viscount Hampden, chairman of the National Mortgage and Agency Company, “that New Zealand farmers should realise that at the present time a great deal of uncertainty and lack of confidence exists m all trades in this country. For this reason, careful economy and reduction were- possible of expenditure on the pan o. New Zealand producers must be a necessary and wise precaution to take.” He was addressing shareholders of the company at their annua! meeting. With regard to the prospects for the current year, the latest information received from the general manager in New Zealand stated that the season had been, on the whole, satisfactory as to the weather conditions; that the harvest promised well, and there would be increased production of wool and lambs. There was ample feed and dairy tanners would have a good year. “We have, however, to face the fact that wool and stock prices are considerably lower than last year. Wool, of course, has suffered a severe fall in values, but it is to be hoped the cheapness of the raw commodity will stimulate the manufacturing side of the trade, and that consequently a recovery in prices may result. “Prices for lambs arc lower than they were last year, but in view of the conditions in the London market last year’s prices were not justified, and it is obvious that it cannot he to the advantage of the various interests engaged- in the frozen meat industry for the freezing companies to continue to make losses. “It will, therefore, he realised that the pastoral industry of New Zealand, like many other industries all over the world has'its-difficulties to face, and, while the anticipations ol a year ago have not been entirely fulfilled, there lfa.s been progress and expansion in the exports of practically- all products.