WELLINGTON WOOL SALE.

Press, Volume LXIII, Issue 18896, 11 January 1927, Page 10

WELLINGTON WOOL SALE.

CROSSBREDS OFFERING. [THE PRESS Special Service] WELLINGTON. January W). The third of the series of "Wellington wool sales will begin in the Town flali at 7.30 p.m. Wednesday, and will be concluded on Thursday. The order ot the sale and offerings are :- Bales. Abraham and "Williams and Wright. Stephenson' and Co. 3036 Dalgcly iind Co. .. 4510 .Murray Roberts and Co., and Johnston and Co. ... ... 3970 Levin and Co. ... ... 6995 X.Z. Loan and Mercantile ... 2?72 X.Z. Distributing Co. ... ... 3160 AYair.iiv.pa Farmers ... .... 2558 Toiai 27,131 The caiaio<j,ues provide a very fine selection of wool and therefore keen competition is anticipated with advances for certain classes of wool. The sale at Christcliurch last week was a very successful one, but the bulk of the Canterbury offering consisted of halfbred wool, while in Wellington the bulk of the offering is crossbred, for which the demand is not quite so keen. Nevertheless, the cheapness of crossbred is proving attractive to Continental operators, snd we may expect to see them buying freely.

TRADE RETURNS. IMPORTS LEADING. [THE PBESS Special Service.] WELLINGTON, January 10. The trade returns of New Zealand for the twelve months ended November 30th, 1926, show that the exports were valued at £46,257,365, as compared with £56,560,233, a decrease of £10,302,868. The imports for the twelve months totalled £50,143,248, against £52,324,472, a decrease of £2,181,254.

The balance of trade is as under:— 1926 1925 £ £ Exports .. 46,257,365 56,560,233 Imports .. 50,143,218 52,324,472 In 1926 the imports exceeded the exports by £3,885,853, while in 1925 the exports exceeded the imports by £4,235,7452, so that on the twelve months the Dominion went to leeward by £8,121,614. Tho_ contraction of spending power within the Dominion is the probable cause of unemployment. The imports are shrinking, but the shrinkage must be very much greater before the balance of trade is in our favour. * CHAMBER OF COMMERCE. ARTICLES ALTERED. . A special meeting of the Canterbury Chamber of Commerce , was held yesterday afternoon. Mr W. H. Price presided over an attendance of seventeen members.. The following resolution was confirmed on ihe motion of the chairman,"seconded by Mr,W. J. Jenkin: — '"That the Memorandum of Association as printed (and subject. to the approval of the Supreme Court), and that the Articles of Association; subject to the following words being added to clause 28, viz.: 'Where it is proposed to pass a special resolution, the two meetings may be convened by one and the same notice, and it is to be no objection to such notice, that it only convenes 'the second meeting contingently on the resolution • being passed by the requisite.majority at the first meeting.' ' "Th'at tliis'be adopted as the Memorandum and ' Articles of Association respectively the Chamber .in .lieu of the existing Memorandum and Articles of Association:',' WATER POWER. : 1 FOR TARANAKI AREA, (PRISS ASSOCIATION TBLEGEAU.) ' ELTIIAM, January 10. With the completion of the Taranaki Power Board's scheme, turbines are now generating ■ current in Motukawa and are supplying electricity over the wliole area for trie first time. The official opening of the supply takes place next month. v . DAIRY CONTROL: INTERESTS OF CONSUMER. LAW OP SUPPLY AND DEMAND. (FROM OUR OWN CORRESPONDENT.) . LONDON, November 2^. "Tha Grocer" mentions that at a-recent meeting of the trade, Mr • P. J. •' Baldock moved the accompanying Resolution : "That the members'of the "Metropolitan Grocers' and 'iSovision Dealers' Association recogiiise the right pf the New Zealand Control Board 1 to make their own: arrangements as to supplies l of • their. butter.' and ..' cheese. They, however," very, greatly regret-the action : taken in !setting up , a system-of ..control of their products in -this country whereby priceß l are. to be arbitrarily., filed, 'by,, the Control Board instead of'by free market conditions; moreover, the free movement of produce between merchapts ia ,tc>- bo hindered by. restrictions on. .the 'usual' trade 'channels .of distribution, and so regulated as to hold ■up supplies when the market: figure does not meet with satisfaction. * Such a scheme is .not-in the interests of the consumer, and certainly , must >,tend Jto, prejudice. the handling of such goods by distributors, who have always to regulate their prices according to the well-organised law 'of supply and demand." Mr F. W. Essex, in seconding the motion, said he was afraid, that t)ie ( I)ominions did not properly appreciate the free and open market'.of-this country, which was the finest market'in the world. It was not right that they should attempt to dicate to the' trade here the -prices at which' they should sell their goods. ;They ought to be quite Satisfied to have an open market for their produce, so that the law of supply and demand might freely operate. Mr A. Keene, speaking in support of the resolution, remarked that the effect of arbitrarily fixing the priceo of New Zealand butter was that the trade hsd to pay more for other butters also, which was a very undesirable state of things. Councillor Hubert Williams said there was another point which they ought not to overlook. At the moment it might appear that this control was rather favourable to the consumer and the trader, but it might be that as soon as the New Zealand people got the control completely in their hands they could dictate to the trader as to what he wa a going to sell, how h* was going to sell, and what profit be *« going to get out of .the transaction. If New Zealand buttor was put on the market in lib and Jib packets, the grocer would b« like the tobacconist, simply handing ot«r package* to their customers. Expert knowledge in the trade would not be required. He thought they must do all they cou'.tl to prevent the introduction, of such a system into the trade. The resolution was carried.