COMMERCIAL.

South Canterbury Times, Issue 5006, 14 May 1889, Page 2

COMMERCIAL.

Mr Moss Jonas reports as follows Business for the week has again been brisk, particularly in sheep and cattle, both of which are realising good prices. In his last report ho stated that prosperity was again returning,but that it required care and economy. Now that we have made a beginning it will be necessary for the farming community to look back for the cause which has been so disastrous to them and try and avoid it in the future. Having had experience for the last fifteen years in soiling land, which formerly fetched such large prices, ho is in a position to advise purchasers to be more careful in purchasing. It is only necessary to look back to the time when large sales were being held all over the, colony, when both rich and poor were purchasing more than their positions permitted. At that time a man possessing (hard earned money), purchased say =£looo worth of property; the rich man, possessing .£4o*ooo* purchased, say, .£40,000 worth, neve? thinkingof the evil day that was coming, but expecting that immediately the property was bought they would be able to resell it again at a great profit, thus trying to make a fortune in a year or two instead of waiting for a few years and buying less. As a result what has happened ? Those farmers who held good freehold farms clear of debt, and who had their estates enlarged by purchasing on the deferred payment "system, viz., 10 per cent cash, 10 per cent in three months, and so on for a term of years), in most instances were not in a position to keep the payments up, and they not only forfeited their deposits but lost their own freeholds which they had possessed for a number of years. Had they been contented to purchase land in accordance with the ready money that they possessed, the people of New Zealand to-day would bo one of the most prosperous communities in the world, for hundreds of the working classes that have left the shores of this colony would now have their bit of freehold property, and be living in contentment on their small holdings, rising by degrees as the country goes ahead. He is afraid that if farmers still purchase land on the deferred payment system, that the same results will occur again if they are not in a position to pay a good large sum off the purchase If they have only paid small deposits and. areunfortunate in getting one year’s bad barest, the interest comes so heavy upon that they would be better off had they bought, half the quantity, and have kej» weir little savings for a rainy day. Although New Zealand is, ypp.of; the grandest countries in the work), it, has. its little drawbacks as far as graip. production is concerned. Not that wo, cannot produce tha cpmntity, but it is the disposing, of it at a paying price when 'we.get. it.' These are his reasons for warning the', farmers that should the Australian,colonies’ have an abundant harvest, and other, countries fair yields, wo certainly shall bo at a loss to know what to do with our surplus wheat, for if our farmers find it hard* to dispose of at a time when there is almost- ■: a famine in Australia, how much more so willit be when that country has an abundanco-fttr- S its consumption, besides a large surplus- for shipment. In conclusion, his advice to- 1 farmers is to buy at a price that will pay, and' not at prospective.values, for as sure as the; years come round if they buy cp. the deferred! payment without seeing their way clear to pay the calls and interest when, it-, becomes due; I without entirely depending on taking it out of ! the land, then the, same.result-,as already I stated will ooctir again, and his advice to those who are incline! to over-speculate is,.not to buy at,all. ' ' ■■■ '■’ * pleasant, At.this sale there was a very larg'j entry of both sheep, cattle, and pigs. He gold on behalf of Messrs E, Hoaro, Cartwright. E. Acton, McKay, Morrison. Grant, C. R. Shaw, H. Acton, W. B Howell, McCormick. Thornlcy, Jones, Matthews, and others There a gre ’ at compo tifckm in sheep, but oattf' d - gg did not realise their full values, g o]d 08 fat ewes at 7s Bd, 50 * - Gs Id, 200 half-bred owes at 5s 3d, ? D g‘ a owes and’wethers at 9a Id..MObtoodoWes at Gs. 1400 merino owes at datod, 370 .d crossbred owes at 4sdid ,50 tat wethers at 11s 5d 200 2-tooths at 10s Gd, and other small lines at values ; 8 forward steers at ±4 os, (j do at JE4, 5 heifers at ycarhngs and 2-yoar-olds from <£l 7s Gd to ±2. Ho also sold 4fe pigs averaging from 7s up to 28s. At the annual horse fair, held at the South Canterbury saleyards on May 7th his entry . comprised 48 head mares and geldings. Out of this number he placed 23, as follows on account of Wm. Moore, 1 at .£ls 10s and 1 at £l4 los, 2at .£3olos, and lat .±22. The balance were sold on account of Messrs Collett, Oliver, Matthews, Geancy, Blackmore, and Thomas, at from £G up to ±23. Although there was a large number entered the prices did not meet the views of purchasers, consequently there were not so many sold as there should have been, considering the stamp of the horses entered.

WASIIDYKE YARDS. At the Washdyke yards on Thursday, there was not a large entry, owing to the downpour of rain. Several large lines were prevented from coming forward. Ho sold 170 old owes at 3s 9d, 73 fat owes at 8s sd, and 100 Southdown owes and lambs at 8s 7d, all counted. Privately be has sold 10 fat bnllocks at 5s 4 fat cows at ±4- 7a Gd, 450 fat wethers at 12s 3d, 190 2-tooths at 10s, and 980 freezing skins at 4s.