THE WOOL SALES.

Dominion, Volume 6, Issue 1643, 9 January 1913, Page 6

THE WOOL SALES.

The wool sales hold at the Town Hall, Wellington, # yesterday created a-great deal of interest not alona amongst those specially concerncd, but among the general public also. The quantity : catalogued, 25,855 bales, was a record ; for Wellington, and was 8355 bales more than was offered at the corresponding sales last year. The catalogue would have been lalger, but for tho. fact that towards the end of last month the spell of fine weather enabled farmors to complete'thfcir shearing and .tho clips were\ rushed down to Wellington by rail and steamer in such large quantities that the receiving sheds bpcame congested and it was I difficult to, obtain delivery by thfi ■ date fixed for the closing of the catalogues.v Dalgety Ato Co.. offered 7671 bales, which is' about the largest individual catalogue for tho Do l minion. : The attendance of buyers was.'large as usual at these sales, and all sections of the trade were: represented. The scene in the Town Hall was animatd, for the, buyers exhibited a keen desire for, business. Acoording to tho opinion of experts the bulk of the wool wits.heavier in condition than- that' offered at the December sales. A considerable quantity . was seedy, whilst medium and coarse ■ crossbrcds were cottcd and shabby. There were very few light, bright Itomiicy, clips available, and very little wool for the Americans to buy. Prices were easier, even allowing for tho heavier condition of the. staple, as compared with December rates. Coarse and medium wools were Jd. to Ad. per lb. lower, and fine crossbrcds ia. to ld; per lb. lower. It is "impossible, to account for; jthp, decline, for dear, money, and the war' in. the Balkans were features at the December sale quite as much as they; litre' riow,' and the •explanation must bo looked for in . the natural caution of,.buyers. An expert writing to the: Financial Times (tondon) immediately after the opening of the Noh vembcr sales, said: : "To start a new season .with Gl's top 9 at • 29(1.. looks on the surface tf thiijgs to bo. veiy dangerous, for in October, 1907, when they touched the same-figure, they did not stay there more thftn ; hvo or three weeks. No doubt tho American financial crisis was the prime "factor-in-bringing 1 about that slump, but , to-day tliero is no. proiipcct of a repetition- for such'an experience;so far as (he, United States is- concetiied." Many seem to think tliat to-day's prices are very' ilaii(;erous and' largely" tho outcome of exhausted, supplies." . • \ ; ' \. The above was written towirds-the end of November and how far the development has been \n the direction, of confirming the those : who advised caution, it is difficult to say. Although prices were lower than at the December sale they aro considerably higher than at the' corrpaponding sale of last year, and the woolgrowers will'realise a good remunerative price'for their clips. A pleasing feature of the sale, . and one. worthy of note is .'the excellent support that the local sale is obtaining from the. farmers of the surrounding districts. There are numerous advantages that can be urged in favour of testing the local market, not the- least of which . are prompt realisation and. the avoidance of advances. A fortnight hcnce those who sold their, clips yesterday will be drawing*their cheques, and it must be' an advantage to tho growers to bo put in possession of their profits so promptly.