The Feilding Star. Oroua & Kiwitea Counties Gazette. Published Daily. FRIDAY, JULY 13, 1894. WOOL AND MONEY.
The fact that the United States of America will afford a new market for wool next month has had an appreciable effect at the auction sales in London, and we were told yesterday by cablegram that competition was keen, and previous prices were maintained. This is a good indication that for the coming season's clips the sheepfarmers in the Australasian Colonies will have better returns by ten or fifteen per cent than they did last year. This means for this colony a sura of half a million at least. According to the statistics of New Zealand for 1593, J now before us, wool was exported in that year as follows : —
Total 109,719.684 £3,774,738 Of course the wool consumed in the j colony by the Woollen Factories is not taken into account in this return. To-day we have to hand the news ] that the Union Bank of Australia and the Bank of Australasia, two of the most powerful and best managed financial institutions in the colony, have ceased to give interest on deposits for less than six months. This shows that with the appreciation of wool there is a distinct depreciation in the value of money, so that we can confidently predict an increase in the earning, and therefore the spending, power of all the industrial classes. Although the difficulties in America have created a demand for frozen meat which has hardened prices for that commodity, we do not consider it will be of a permanent character, because the present troubles in that unhappy country must soon disappear, and business How back into its old channels. In the meantime, however, we are receiving an unexpected benefit from the misfortunes of our neighbour, for j which we slrould be abundantly grateful.
lbs. value Greasy ... 85,194,424 .£2,639,617 Scoured ... 16,803,959 809,740 j Washed ... 8,221,301 325,881
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Bibliographic details
Feilding Star, Volume XVI, Issue 11, 13 July 1894, Page 2
Word Count
317The Feilding Star. Oroua & Kiwitea Counties Gazette. Published Daily. FRIDAY, JULY 13, 1894. WOOL AND MONEY. Feilding Star, Volume XVI, Issue 11, 13 July 1894, Page 2
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