WOOL PRICES

Dominion, Volume 10, Issue 2901, 13 October 1916, Page 8

WOOL PRICES

LONDON AND LOCAL SELLING. "Woolpack" writes as under:—Your Wauganui correspondent "X" states that the cost of sending wool to London for salo will not exceed tlio cost of selling in Wellington by as mucli as Id. per lb. during the coming season. Allowing for loss of interest on tlio valuo of the wool (seven months being a fair average period under present conditions) and a further recent increase in the Port of London' Authority's charges of 7J p.c., I submit that (tboro being no farthing bids in London after lOd. per lb.) wool worth 12<1. per lb. ox sale in Wellington would need to fetch 16Jd. in London for the grower to obtain any boncfit from sliipping. I append figures based on actual sales in both centres by way-of illustration, showing that tho charges on a bale of wool (weighing 4001b. nett realising Is. 6d.|pbr lb.) amount to slightly over 4fd. on London selling, and slightly over fd. Wellington sales realising 14d. COST OF SHIPPING WOOL TO LONDON. One bale 4101b. gross, 4001b. nett. £ s. d. 4001b. at Is. 6d., £30. Marino Insurance, war risk, firo insurance, and aircraft risk, £30, at 3 per cent 0 18 0 Bill of lading, wharfage, ' weighing, and delivery 0 10 Freight 4101b. at 2|d. (i.e., 2§d: plus 10 p.c.) 4 9 8 Sale exponses, warehousing, rent, etc.* 0 7 2 Brokerage and commission, at li p.c. ~ 0 9 0 Interest on £30, 7 months, at, say, G p.c 110 £7 ss. lOd. eq. 1750 pence on 4001b. cq. i(<l. per lb. 7 5 10 1 *1\ p.c. further increase siuco theso figures were taken out. No allowance mado here for the additional charges being mado this season for transhipment wharfage lo Homo liners. : SALE IN WELLINGTON. 4001b. at 14d., £22 13s. 4d. Receiving, weighing, warehousing, insurance, etc £d. ■Average commission 2 p.c. (on a ' 50-balo clip) 108-400ths ...:...,. 2-Bd.