Manawaiu Standard (PUBLISHED DAILY.) Suivant la verite. THURSDAY, SEPT. 27, 1883. LEGITIMATE INVESTMENT,

Manawatu Standard, Volume 4, Issue 253, 27 September 1883, Page 2

Manawatu Standard (PUBLISHED DAILY.) Suivant la verite. THURSDAY, SEPT. 27, 1883. LEGITIMATE INVESTMENT,

Several of our contemporaries regard with satisfaction the readiness with which capital is being found for meat freezing and export companies. The Waikato is a district similar m many respects (though with a less fertile soil) to Manawatu, and we find the local Times advocating the promotion of such industries as will tend to enhance the value of landed estate by increasing the

market price of its products, whether live stock or grain and root crops. Our contemporary considers this diversion of capital into new channels as one of the most cheering signs of the times. We quote from its remarks as follows: — • " Heretofore, foreign capitalists sought investment solely m land, relying upon, the difference between the cost of purchase and the lowest market value to recoup their outlay. But if the moneyed men are opening their oyes to the necessity Son fostering the agricultural interests, it is clearly to the advantage of the farmer and grazier to second these efforts." With reference to meat freezing our contemporary thus discourses : — " The experience gained up to the present teaches us that sheep form a much more profitable article of export than cattle. To whatever length the freezing principle may ultimately be carried, it has not yet been applied with perfect success to carcases of beef • and though it may be wisdtm still to continue experimenting, we ought to keep as much on the safe side, as pos-j sible. When the risk attendant upon: the sending of beef to London has been] reduced to a minimum, cattle will of; course be Waikato's strong point ; but; meantime farmers should consider the: advisableness of increasing their flocks." And for some years to come cattle must be Manawatu's "strong point," and therefore the remarks quoted are equally applicable m our case. There is little doubt as shipload after, shipload of frozen meat leaves New Zealand's shores, the value of stock— especially sheep — must considerably increase; and not only that, but the number available for export must proportionately, diminish. The ex-president of the Canterbury Chamber of Commerce, estimates that that provincial district should be able to export about 15,000 carcases of frozen mutton during the year. Otago would probably be able to export at least an equal quantity as the flocks m that district equal m number those m Canterbury. These two districts graze about seven millions of sheep, out of twelve and a half millions m New Zealand, ,1882. If the above estimate is ' fairly 'correct it follows f that fully half a million sheep or more, could be ;proL fitably exported as frozen mutton annually. Pains must be taken m breeding and selection, for if the quality of our shipments deteriorates, the market wil» be affected to our, disadvantage. It is reasonable to suppose that year by year, as the industry developes into greater magnitude larger amounts of capital will find profitable investment : m the various schemes for converting our surplus stock into money m the Home markets. With such a grand stock-raising country as New Zealand is admitted to be, its future must to a large extent depend upon the meat industry, which should eventually make it a wealthy and prosperous country, j