ABRAHAM AND WILLIAMS, LTD

Hawke's Bay Tribune, Volume I, Issue 288, 24 November 1911, Page 2

ABRAHAM AND WILLIAMS, LTD

Pelrnerston North, Nov. 23. The annual meeting of Abraham and NViiliams. Limited, was held today. Mr. R. S. Abraham, chairman of directors, in reviexving the prospects of the stock markets, said that the probable expansion of the frozen meat ami butter markets to foreign countries, the increased spending power of tlie workers resulting from their efforts to obtain better pay (which must be more or less successful), the reduction in the flocks of the world, and the universal demand of the masses for better conditions generally, must necessarily react in the increased consumption of our products. and therefore better prices. At the same time there seems some danger of an over-san-guine view being taken by investors in land. Prices seemed to be advancing somexvhat abnormally, and another season such as last year would have a most disastrous effect on recent buyers. This danger might be rectified by the large number of properties noxx* being cut up. or that will be so in the near future. Wool appeared to be under a temporary cloud, and a drop of something like 2d per lb at the recent sales was sufficiently serious. NVlnilst this was the result mainly of the drop at Home, no doubt the buyers’ strike had something to do with it. This had been settled on reasonable lines, and there xvas no reason xvhy the business should not be carried on amicably in the future. The colonial wool sales have now assumed such importance, and xvere so xvell attended by buyers from foreign countries, that with few exceptions growers ■of small clips, say of 50 bales or under, could practically obtain London prices here, and thus save the cost of freight, insurance, etc., whilst they had an additional advantage of knowing precisely how they stood, and xvere in no danger of having to pay .reclamations of money which they had already spent and forgotten. The price of store sheep, more particularly of breeding exves, should be good this season, considering the decrease in the flocks of the Dominion, which had been intensified by a light lambing season. The meeting declared a dividend of six per centum, and carried £2983 to the reserve fund, making £BOOO. Tito firm has reduced its liabilities bx- £BO,OOO in three years.