THE FARMERS' EXPERIENCES AND PROSPECTS.

Star (Christchurch), Issue 9736, 31 December 1909, Page 8

THE FARMERS' EXPERIENCES AND PROSPECTS.

The manager of a . business concern which deals largely with farmers when asked to give his impressions as to the* success or . otherwise of the farming community for the* past year and its prospects for the year that is coming, said that he had- always felt that a business such as that he was engaged in was the very best and most reliable barometer to indicate the fluctuations of the, agricultural markets. The shareholders of the business, some 7000 or 8000 in number, were almost all engaged in agricultural pursuits, and it was possible to .gauge from their transactions the degree of prosperity which was being experienced by the province, while advices from kindred organisations in various parts of the dominion kept the management posted as to the condition of affairs throughout the country. The financial stringency which had marked the earlier months of the past year had, in his opinion, been greatly exaggerated in many quarters, and an immense amount of harm had thus been done. During the whole of the stringency there had not been even a suspicion of a desire on the part of shareholders to withdraw their deposits, and the withdrawals that had been made had .been not at all put of proportion to those of previous years, and Tiadfbeen made always for somfi specific reason unconnected with the tightness of the money market. The deposit account of the business had really been increased by about; £2o,ooo during the year. The distress occasioned by the stringency seemed to have been confined to the artisan section of the community, who had been affected by the slackness in various trades. The splendid revival of the wool market experienced last year had had a wonderful effect upon the condition of the farmers. It meant all the difference between success and partial failure, and the revival had put them in good heart, and given them confidence for the future and. the necessary funds to carry on their year's work. In cereals, although the yield had been by no means a good one, the prices had been particularly satisfactory, and farmers had benefited. It was noteworthy that at the end of July a very slack season in «the farmer's year, the firm had had. only what was equal to about six weeks' volume of business, in the way of outstanding accounts. . Even if it was possible to get the accounts out sharply at the end of the month, and have them paid the following day, there would always be month-old accounts outstanding, so that meant that the whole of the debtors of • the firm had been only a fortnight behind at the slackest part of the year, a very remarkable record.

Soi far as the immediate prospects were\ concemedi he added, nothing could be more promising. The wool season, which was now jhalfway through,, had been remarkably satisfactory, and could not have been better, and', advices from Home and information available locally went to indicate that the remainder of the season would be equally satisfactory. In regard to the crops, one method of judging< x the probable yield was by watching the orders for binder twme, and this year there promised to be a larger consumption or twine than for many years past. His business alone" would handle something like 500 tons. Notwithstanding that the supply of sacks this year was over the average three consignments having arrived from Calcutta, there were already evidences that there would be a shortage. Though in a few isolated cases considerable loss might be

occasioned by rust attacking wheat, it was safe to assume that the general yield would be a very large one. There was every indication that prices would be good, both for wheat and bafts. Dairy produce prices were at a high level, and the only- fly in the ointment was the meat market. He thought, however, that the condition of the meat market would improve with an improvement of the trade conditions at Home, and was genuine evidence of such a revival at present. The man would need to be of a very pessimistic turn of mind indeed who would prophesy anything but a wonderfully prosperous year. Retail 6ales had kept up very well throughout the year, and there were signs of a steady improvement. Customers were getting over the feeling of insecurity induced by the earlier stringency, and the money market was 'much easier in tone than it had been a few •' months before. He had recently been all over the province, and he had never seen the country looking better, while . advices from Otago and the North Island showed that this condition of affairs was by no means confined to Canterbury.