THE WOOL SALES.

Dominion, Volume 4, Issue 1179, 14 July 1911, Page 8

THE WOOL SALES.

EEYIEW OF MtOSI'ECTS. In a review of the wool trade a Sydney . p:iper shows that there was an increase in the dip of GO.7M bales, and that the Now South Wales production totalled l;051;000 bales for.tho season. The reviewsays :--"The statistical year, which came to a , close on June 3D, covered a somewhat checkered period in the history of the wool trade. Neither climatic, conditions, nor the course of values, ruled entirely in favour of the. producer. Australia did not give' tho wool trade of its .best, and the market responded with prices which fluctuated most disconcertingly. Sharp as (he variations in the, value of the staple were at times, they did not at any period sink below the remunerative level. In fact, the great bulk of the .clip must have yielded, returns which left a very fair inar?;n of profit. Tho most .satisfactory circunistai'.co is that the paying point is still maintained, notwithstanding the increased cost of production resulting from additional taxation, higher wages, and deterrent pests... With all these drawbacks, ths pastoral industry still remnius the backbone of our prosperity. Whether carried on in the backblocks, or in tho more settled ■districts, tho highest standard of vscollcnce must be. aimed at if the industry is to flourish, nnd Australia to retain its position as the most important source from which the, world can count upon drawing its .supplies, 'i'he.wool-jrrower has shown," ho far, no indention of taking a back seat in respect to the quality of the article ho is pvcducinj; AVhcthcr prices ruld, high, or low, in kkkl seasons, in l)«d f.e:i.-i)ii!i. hn-has. irMtlilj".kept in view; the niin of greater, excellence." "We cannot'resent, to?" strongly-the usu made of alarming reports euuuiatin? from certain Home jonrnals which publish article? from time to time upon matters, concerning wool. Statements' were freely circnlatertVdurin.'j the .early half of the statistical year, that our production iii Australia would show an increa-o of 275.0C0 of ,100,0110 bales. The trade"'at just that period was passing through; rather trying tinies. and no doubt mischief was doneby rejiorts which subsequent events have proved to ,be groi«ly csasgeratcd. THe Outlook.' '."The outlook is by no means,as encourasiiijf as it was earlier in the year. The lon™ siiell of exceptional activity in ,tho HoniD industry has l:cn\ interrupted by strikes in the shipping trndo and kindred branches o{ indust|-y. In Bradford many of the oombiiig mills have b«u brought to a standstill throu.™h strikes. In this direction there appears to l:o a desire on the pni't of tho contestants to ..mpet by makinj,' inutnal conccssiDii's, so that in all likelihonil an agreemoiit will w;on hi. arrived at. It is pretty certain, however, that Yorkshire will have to fall : back : upon if; ov;n trade, as orders for Japan, and America are Jikc-ly to be few and far between. The trouble in connection with shipping is not a favourable, factor, and is likely to hamper thu industry.rather.than help.it. . : ■ ■ "Franco has got over her troubles, and has a fair trade to rely upon. The saiuo may bo said''of Germany, and the Con-, tinsnt seuerally. The dark horse, is undolibtcdly America. Stocks of imported wool are exceptionally low. and it in reported on good authority tint very small stocks of manufactured'gtwfls .nrfi -on tho shelves. There are plenty of cheap cotton .mixtures made, but a. large-proportion of the American population .is alive to /he advantages of. ■vveaTtiij: wcoili-ii ehljies. If the uncertainty Tesptnting the tariff were prompMy removed we should probably k'o America an important operator durin.'r the coming selling season. "There is no occasion for the trade to fear any large production of wool. Wβ have".less sheep, , and if present dry linies coiitimie we shall do very well >.f we maintnin last seoscii's- totals. The ever-i:i-c.roasing need for wool has to into consideration, and whilst we are not. inclined to like on exceptionally optimistic view of the future, there is on the other h-md no rea-on to "assume that.the bottom has gone out of tho market. The trade e.nnnot always be 'working at fever heat, but tho natural wants of tho trade can fthvays be relied upon. Production of manufactured gonds for consumption in Europe lias net boon excessive; in fact, there is a reserve of strength in the position of the industry which may. well be yet against the influences which are for tho moment of the nature of adverse factors."