The Gisborne Standard AND COOK COUNTY GAZETTE Published every Tuesday, Thursday, and Saturday Morning. Thursday, May 9, 1889. A BRIGHT LOOK OUT.

Gisborne Standard and Cook County Gazette, Volume II, Issue 296, 9 May 1889, Page 2

The Gisborne Standard AND COOK COUNTY GAZETTE Published every Tuesday, Thursday, and Saturday Morning.

Thursday, May 9, 1889. A BRIGHT LOOK OUT.

Ba just and tear not; Let all , ends thou aim’st at be thy county's, Thy God's, and truth’s.

News by cable a short time ago gave some meagre information as to a bigcompany that was being promoted for the purpose of trading in New Zealand frozen meat. By the mail further par. ticulars are to hand. The name ot the Company is to be the Imperial and Colonial Trading Company. It had

then been practically settled that the Board should consist of the following gentlemen Messrs M’lvor Bros., of the Canard line; Mr Fraser, chairman of the North-Western Bank, and Mr Bowling, a Liverpool merchant of high standing, who will represent the Liverpool shafvhuldcrs, U was also believed

Sir Joseph Lee (a man of immense wealth, chairman of the Manchester Ship Canal Company, and altogether one of the most trusted and substantial men in that part of the kingdom)would have become a member, but he was

precluded from taking an active part, being chairman of other companies without whose consent he could not act, and this consent had been refused. Sir Walter Buller had to withdraw for the same reason. Glasgow shareholders are to be represented by Mr Graham, a merchant and shipbuilder, and a - man of high standing and great wealth in the North of Britain. Mr H. Russell will be the resident director in Wellington. A London correspondent writes in reference to the concern:—

"The capital of the new company, as already stated, will be nominally £1,000,000. The first issue, which will be announced shortly, will amount to half the capital, the shares being £lO each. Shares to the value of £50,000 will be reserved for the colony, and if not taken there will be snapped up on 1 his side. The plans for the new steamers are already prepared, and contracts will be entered into at an early date with Charles Palmer’s firm at Newcastle. . . . It is obvious that, if this company is established and gets into successful working, it must exercise an immense influence on the New Zealand meat trade. The company hope to develop, through their agency alone, a consumption of something like a million carcases a year, which would practically double the amount of frozen meat coming from New Zealand, inasmuch as last year the imports just reached a million carcases. Reflection upon this point has suggested some doubts to people whose opinion is worth nothing as to whether the natural increase in the flocks of New Zealand will justify such a growth in the export trade. This, however, is a point upon which the flockmastera of the colony can speak with more authority than anyone ou this side of the world. Should this company prove the success that is confidently looked for it will do a great deal towards placing the Australasian meat trade far in advance of that of the River Plate, though last year the exports from this source Were only about 100.000 carcases behind those from New Zealand.”

The question as to the capacity 01 New Zealand to supply one million more sheep per annum for freezing is one which at present most people are inclined to answer in the negative, but so long as New Zealand sheepfarmers can partake in the advantages which increased competition in the shipping trade will give, they are not likely to be troubled as to whether they can keep the market fully supplied. The H. B. Herald has an excellent article on the subject, in the course of which it says : —We doubt whether it could be done under present conditions. The existing export trade practically absorbs our surplus fat stock, especially in dry and unfavorable seasons But there is no reason why. in a short time, even the full million additional sheep could not be provided. The opening for the wholesale disposal of wethers afforded by the frozen meat trade has led to a much larger proportion of ewes in our flocks than formerly, and this naturally means a larger proportionate increase. Moreover, with the certainty of fair prices for suitable fat sheep afforded by the guarantee offered to the farmers of the colony through Messrs Nelson Bros, and Co.’s new arrangements, it will pay sheepfarmers to give more attention to their young stock.than formerly. When even the best butchers’ sheep threatened to become a drug in the market, and the boiling-down pot offered the only alternative to over-stocking, comparatively little attention was paid to young stock, and they died by hundreds of thousands from lung-worm and other disease. But remunerative prices will—-in fact already have—altered this slip-shod method of sheepfarming, and every year larger areas are sown in root or green crops for [the benefit of young stock, with a marked effect not only on the percentage which arrive at maturity, but upon the quality of the sheep. At present, however, as we have said, it is very doubtful whether the extra million carcases could be obtained. Failing that, how are the new vessels to be filled ? Already the capacity of the steamers and. sailing vessels trading to the colony is more than sufficient for the stock offering, and has led to repeated lowering of freight, until now, as fairplay recently put it, “there is more fat on the sheep than on the freights.” However, the more competition there is the better for .the producers, though it may be worse for the competitors, and the sheepfarmers of New Zealand have until recently been so “bled through the nose ” by financial firms and companies that they will hail any company which would break up what practically amounts to a monopoly in charges and freights.