Pre-war Days Recalled At Wellington

Chronicle (Levin), 19 September 1946, Page 6

Pre-war Days Recalled At Wellington

->Press Association

By Telegraph-

WELLINGTON, «ept. 18. Higli pricos for siipes and cieau scoured xvools were generally tlio ordei of the day at the first free market wobl offering of the New Zealand auction system whieh was resumed after soven years with the sale in tlie Wellington Town Hall today. Crutchings sold in many instances at substantial advauces on last season's appraisal values, thdugh some lines failed to reaeh the reserve minimum prices fixed by the Wool Disposal Commission. Thirt}'-three pence was paid by tlie representative of an English firm for one top qualitv offering of siipes and 32id for another. Clean scoured wools went at prices up to 3.1 to the sarne buyer, It was evident tliat Gontinental buyers were seeking best quality wools. This was the first timo siipes had been offered under the hammer in New Zealand. The catalogue of 10,334 bales consisred of (5734 crutchings and 3400 of stocK wools comprising greasy, scoured anu siipes. Though prices on the whole were gratifviug, they are not aecepted as giving any signifieant lead on this season's values, the real trend of wlnen will be determined when the main elip is offered in November. Not niuch atlention was paid to fleeces, buyers preferring to wait for tlie November saie. Bellies and pieces were neglected. Dead wool was not sought ut all. Prices tor scoured wools, on the otlier hnnd, were well abovo reserve whieh had been fixed in some eases. Operating as direct purchasers at tlie eale wero four French buyers, and one Belgian while a Swiss representative was present as agent for a number oj Contiuental firms, Tlie French buyers who liave already taken 17U.000 bales of New Zealand wool on allocation between Januarv uud June 30 last, said their iimits were governed by the credits avaiiable to them but the reluctance of New Zealand to take French experts had not assisted their financial arrangcinents. All the excitement characteristie ot prewar auctions \yas evident.