THE COMING SEASON.

New Zealand Herald, Volume LX, Issue 18494, 3 September 1923, Page 10

THE COMING SEASON.

PROSPECTS IN - WAIKATti.-.;-' RESTRAINED OPTIMISM. HEALTHY TONE OF MARKETS [sr lEijaoaApa - .— correspondent.] ■ _ : : - • HAMILTON. Saturday. A spirit of quiet confidence arid optimism has been engendered among the farmers of the Waikato. recently, and from inquiries made it is clear there is every justification for the improved feeling that exists. -. - ■ , . "- ■v '■"■-,,■ , . i The butter market in England is firm, and exporters are confident that the balance of the season's output will be sold at prices that will considerably . exceed the conservative estimates at which the butter was taken into stock at _ the end of the season, and that substantial final payments will be forthcoming. Cheese suppliers are very well satisfied with the season's returns, and look forward to the futuvo with a firm -belief that the manufacture of cheese will continue to return them good profits. ; As showing what has been: done in the Cambridge district, Mr. Edward Allen, of Cambridge, said that one supplier to the Cambridge Co-operative Company, Ltd., had already .received this season £1800 in cash in the form of butter-fat (payments from the company. He had 150 acres, three miles from Cambridge, and his gross receipts were equal to £i<i per acre, and his net receipts .were equal to about £8. ~.*; •-.,.„ •■• Another supplier, said Mr. Allen, occupied 450 acres on which he had 500 cows. Ho had received from the Cambridge Company £4725 for butter-fat, equal to a gross return of £10 10s per acre, or £7 net per acre. In ' both cases final payments had yet to be made. - Better Prices for Sheep.

Mr. Allen said there-seemed to be a far better feeling among farmers generally. Sheep wore scarce, and were selling well, while beef was commanding much,, improved prices. Most of, the Cambridge land, he said, had been .well established, and the territory in this locality had perhaps been the least affected by the boom. The result was that it was, well farmed, end the occupants had not suffered to the same extent from the effects of the slump in land values as the holders of farm land in Other districts. A prominent. Cambridge sheepfarmer said ho • could .not remember a better lambing season than was being experienced this voar. The ewes were in excellent condition. The lambs %re strong and sturdy and the mortality was remarkably low. The. lambing season had 1 not yet concluded, but the farmer said he had every reason to be pleased with the prospects. He added, that good sheep were scarce and that last week a neighbour had received «5 4s for wethers, a. remaskable price. Many people who had land to sparo were buying sheep, while others were giving up dairying in favour of sheep farming.

Beef Values Improve. A dealer who has travelled all over the Waikato recently spoke in the most cheering tone r of- the prospects for sheep farming and beef raising. There was a great scarcity of sheep and beef, and prices were rapidly advancing, he said. >. . Recent expectations of beef to Australia was having a serious effect on New Zealand supplies, with consequent increment to those who had beef to sell. It would bo remembered- that a-year argument was advanced that owing to the competition of Argentine chilled beef, the New Zealand frozen beef trade was doomed. A gratifying .recovery had taken place, with the result, that dealers were having great difficulty in satisfying the increasing domand for New Zealand beef. Ox.-beef that a few months ago was selling at £7 and £8 per head was now realising £15 a head or 30s per cwt. Although this price was well below the. 1921 figures, when prime ox was selling in Waikato yards at £22 per head the recovery was excellent. In this connection .the operations of the New Zealand Loan and Mercantile Agency Coy., Ltd. in exporting, live cattle lias been an important factor. The company has bought 4000 head of fat cattle and shipped them to Melbourne. The fact of this number of fat cattle being sent away had been a big factor in hardening the prices for. beef throughout New Zealand arid has been'reflected in the good values now ruling at. the principal fat stock sales; < Severe Winter for Cows.

Dairy farmers who have been interviewed have, commented on the fact that the ."weather this winter has been very nevere on the cows. The heavy rainfall and cold winds have- checked the growth of .grass, and -have made* the conditions for the working fanner very difficult. It was confidently expected, however, that once the spell of -wintry weather had been broken, the spring -would be mild and pleasant, i Generally speaking, farmers have been in a position to prpvido their stock with ample green feed, turnips, mangels, and hay, and '. with this supplementary fodder, have been able to maintain the conditions of their cows. ... When land values have been :discussed farmers have stated that., if' about 30 per cent, were taken off the .boom-prices, fair estimates of true values "would be arrived at. That Waikato land has a solid value well in excess of the conservative prices placed on it by some financial authorities is the ■ opinion of, all .; who have studied the matter on the spot. Numerous instances can be quoted of men, who by dint of hard work and attention to the business side of farming, have " made good," reduced their mortgages, and are on a fair way to prosperity, in spite of the fact that at the outset 'they paid high prices for the land, and their neighbours anticipated their'failure. Mortgage Adjustment.

A few days ago one settler had-fnade up his mind that he would have to leave his farm. . He wanted his mortgagee to reduce the mortgage and wipj - off the arrears of interest. The mortgagee was willing to meet the farmer, who was a hard worker, but had not much idea of applying business methods to his calling, but he was not prepared to make the sacrifice the farmer wanted him ;to make. A mutual friend, knowing the circumstances, intervened. Balance sheets were prepared, allowances were made, and a most equitable adjustment of the farmer's affairs was arrived at; It was i'ound the farmer could carry more stock on his farmland with .a reduction lihat was allowed in the arrears of interest and) the increased income he could make„ the farmer came to the conclusion he could make the venture a success. All parties were well satisfied with the result of the conference.

Another difficulty. met with by inex.perienced fanners has been due. to purchasing the wrong class of stock, Heavy, .cattle like .Eriesians and Shorthorns will not do well on light country and vice versa..

A land agent said that people looking for a place were very frequently unduly impressed with the value of the buildings. He said _it was much easier to sell a poor farm with a good house than it was to sell a good farm with poor [buildings. Womenfolk often influenced their husbands against; closing on a good proposition, because the buildings not to their liking, Another land agent said there were many properties for. sale at present that were priced lit well below their real value. ~ ~ One result of the trying: times! through which farmers haVe.recently passed S Will be that any money they ,can ! raise for development will .be used to its fall: value. Only money that is actually needed will be asked for, and: the lender need have no fear that it will be misapplied 'in any way. This is the firm conviction of one well-established ' farmer that , was \itap-.. proached. ' , , ] '. , The : consensus 'i of , : opinion generally ; is : that there. are good'j times ahead: for the* farmer and agriculturalist. No sympathy is. held : for the speculator who ,■ to hold' on i requires to pay interest on three or; four mortgages. In. every case ."first' mortgage is good sound security and, with easier methods -/of- • securing- money . for. j development it is believed there; is no reason why Waikato should not \ continue to maid great strides- forward*- - ■<