WHY WOOL WENT DOWN.

Dominion, Volume 4, Issue 1059, 23 February 1911, Page 8

WHY WOOL WENT DOWN.

DID BIUDFORD "DEAR" TOE , ' MARKETS? ; — • v It-may always bo'expected that a rise , : or ; a-fall m the. pried 'of wool will;be clossly followed by a batch of theories - of the'reason, as to the cause; Tho present; wool sale .season lias not had moro ' than tho -usual number- of "reasons"— t." perhaps not as many as usual—but thero havo been a fair number. - The raost"'in- : terestinp .i? the latest.' It comes- from Australia and includes an assortion that Bradford "beared"- tho market. Tho mat-•;-s: ■ tor wns .referred to .. Wellington . woolbrohers and; their views will follow. . -'-Tho-.Australian .writer referred. to. says i, that jbeforo the season opened estimates ; werti spread broadcast giving the impresthat there-was going to bo a tremendous incrcaso in tho production of . wool', in-Australia this season. .It was reckoned that last year's production would bo exceeded' by about 225,000 bales. As a matter of fact-less-than half that, quantity was the true amount. Tho growers helped to spoil- tho markets, for them- ■ eclves by .rushing.in wool as fast as.they could possibly ao'so, instead of holding , a quantity in'reserve early in tho.season m as to. apread their total over a'scries of files. : Great . quantities were thrust on to the. market at early sales, and' that : had;> bad' effect on values from. tho.'sellers'. point, of view!, But thero'is another factrir. Bradford is credited with having -'-.worked on the rumours'of heavy production; created, the rumours into facts, and [• "beared", tho - market. Bradford;' it is asserted, tried to do it in the previous sea- - son,';and when on"the. point of accomk-. ■ plishing'the aim, circumstances interven- [ cd, aild the moro had to bo postponed l a y«ar. • . (!'..■ One local authority was referred to and '>.• questioned asto . whether this affected ' l\eff Zealand o"r not.* "I'don't-think it nff fects us niuch," ho said. "The local buy- !■ eriihe're protect us. • They have their | limits/and if they seo wool going cheap t . 1 thev;wi!l be after it. Perhaps,'however, it does affect us a little, but I would not - >like!;to say.positively that.it does.---!' rath-sr think-a good deal could happon over! thero 'without' disturbing us much." 'Another,buyer blamed', what he' called i "thdi false'reports." "Peoplo should not circulate them," ho. said; ."If they were ;• not 'cent-about- troublo would not be - etirred up. ' Jf-buyers hear, theso exag- ; . gerated reports they.will naturally drop • . : their figures. Tho producers' cannot •do themselves any good by all this kind of talki of big figures. The peoplo who circulate.the reports are to blamed" • i Somewhat- similar views wcro expressed other authorities. * '