The Dominion. TUESDAY, JANUARY 4, 1910. THE WOOL SALES.

Dominion, Volume 3, Issue 706, 4 January 1910, Page 4

The Dominion. TUESDAY, JANUARY 4, 1910. THE WOOL SALES.

The wool sales held in the Concert Chamber of the Town Hall yesterday attracted an unusual ramount of attention. The attendance of bujers was greater than at the November and December sales; Bradford was largely represented, French buyers were in greater number, and local buyers were very prominent. All sections of the trade were well represented. The attendance of the general public, who swarmed in the gallery, was remarkable. Many wool'growers mado a special point of being present, and several travelled long distances to see their wool marketed. The bidding was animated throughout, and some very goc 1 prices were obtained. Coarse wools, such as would make up into tops of 40's, 44's, and 46's, were in strong demand on Bradford account and registered an advance of from ]d. to Id. per lb, compared with the December rates. The catalogue submitted comprised a total of 19,630 bales, made up'as under: Dalgety and Co G6BO bales. Levin and Co 4130 „ NZ. Loan and Her. Co 3220 „ Murray, Roberts and Co. . . 3100 „ Abraham and Williams . ... 2120 „ U.F.C.A. and W.F.C.A. 380 „

13,030 „ This is not a record catalogue; as a matter of fact it is no greater than the offering at the Januaiy salo of last year. The record,catalogue was secured, in January 1<399 or 1900, when 22,000 bales were offered. There is no doubt that more wool was available for yesterday's salo than was actually offered, but unfortunately, owing to ia variety of circumstances, several hundred bales had to bo shut out The chief difficulty just now is the lack of adequate storago accommodation, and it is olvious tha'j I brokers must give this matte,- I prompt attention. The Wellington sales are increasing in importance, and it is no flight of fancy \o_ suggest that noxt season there will bo another substantial increase in the offering, and accommodation must be provided. Storage has to be found not only for the wool intended for the local sales, but also for shipment, consequently there is bound to be congestion as at present, unless considerably moro storage space is provided. Wellington is the market centro for a very extensive wool district. There is the long stretch of country from Taranaki to Akitio and Castlepoint, besides Marlborough, Nelson, and Wcstland. At the sale yesterday, about 800 bales of merino wool from the large growers in Mailborough were catalogued for the first time, and we may be sure that more will come forward next year. Storage accommodation is a pressing need of the hour., I Three sales have already been held in Wellington this season and the records show that approximately 3100 bales more have been offered than during the previous season. The figures compare as under: 1909-10 1908-9 Bales Bales. November _ 2,500 1,400 December 10,000 7,600 January , 19,600 20,000 32,100 29,000 The .February catalogue is expected to show a further increase, so that in tho aggregate the season will exhibit an expansion of close upon 5000 bales, which is highly satisfactory. With respect to prices, all descriptions of crossbreds were firmer'than a month ago, merinos were also in better demand, while halfbreds just about held their position. Comparing the prices realised yesterday with those obtained at the January sales of i last year we get the following :' Jany. 1909. Jany. 1910. Merinos — IOJd. to lid. nalfbreds BJd. to 9}d. lid. to 12Jd. Siipr. Xbreds 9d. to lOid. lid. to 12Jd, Medm.'Xbds. 7d. to BJd. 9}d. to lid. Coarse Xbds Cid. to 7d. Bd. to 9Jd Infer. Xbds. sd. to Gd. l\i. to 83d. Pes. 4, Bols i\d. to Gd Gd to 9d. Locks 2d to 3d. 3d to sd. Super lamb 7d. to BJd. 10(1 to Hid. Mcdm. lamb Gd. to GJd. Bd. to 9Jd Infoi. lamb 4jd. to 5Jd. 7d. to Bd. The difference _m favour of 1910 is indeed gratifying, and the remarkablo feature is that these advances aie lccqrdcd in a season of record production. What is true of the Wellington sales applies with equal forco to the sales held at other centres, and tho gam to tho woolgrowers of New Zealand must amount to a very_ large sum. Bofore tho opening month of 1910 ia half over, woolto the 'value'.of. nearly a million sterling, will be marketed Wo may summarise the position thus: Salo at Bales. Tanuary 3 'Wellington _ 19,600 'anuary 6 Napici . 16,000 January 12 Auckland 8,000 January 13 Chnstehurch ... . 25,000

' 68,600' Tnia wool, if sold, must; be paid for fourteen days after the date of tho

sale, thus January 21 is the extreme date for settlement. Taking the .average value of a bale of wool at current prices at £14, the above catalogues represent approximately £960,000. This sum will be immediately available to the wool-growers who have sold their wool in New Zealand, and this means much to them and to the country generally. There is a saving of interest on overdrafts, if any, and being in possession of.their'wool money they know exactly what they can spend, furthermore they have tho fine weather in front of them, supposing their projected works necessitate favourable climatic conditions. If tho wool were shipped to London it would be in time to be' included in the May sales in which case ir would be about the first week in July before the returns could reach New Zealand Tho local sales afford many advantages which are beginning to be appreciated. The sales yesterday were, no doubt, to some extent helped by the announcement that freights were to be reduced to id. for greasy wool, and to id. for scoured and sliped wool.