The Gisborne Times PUBLISHED EVERY MORNING, GISBORNE, JULY 12, 1906. THE WOOL SALES.

Gisborne Times, Volume XXIII, Issue 1806, 12 July 1906, Page 2

The Gisborne Times PUBLISHED EVERY MORNING, GISBORNE, JULY 12, 1906. THE WOOL SALES.

Theke was naturally a good deal of curiosity as to the prices that would obtain on the opening of the London wool sales on Tuesday, and when the first news was received that there had been an average fall of 5 per cent., the general impression was that there was to bo a slight swiDg back in the matter of values. But our later cablegrams tersoly explain matters, so that it looks very much as if our woolgrowers are again to be congratulated on a top yield from the golden fleece. The drop in price is attributed to the poor selection of wool offered, including the inferior Argentine article and some of the New Zealand wool dam aged by fire and water. Merino also, which concerns us little, shows a downward tendency. The damping of the damaged wool on the market on the first day of the sale is a most unsatisfactory procedure from the sellers’ point of yiew, but perhaps that is the very reason why it found its way to tie front on the opening day. The buyers in London are keen on all the'lhtle wrinkles of tho trado, and know that a reduced

prico for an inferior selection might j help to boat down the prico for the bottor quality. There is of courso a good margin for tho growor to work on; a substantial decroaso in prico might still ioavo a small protit; but I tho hopo of ovoryono, whether a pastoralist or not, is that tho prico will bo kopt up, for tho galu of tho grower is also in indirect ways tho gain of tho I d'strict and of tho colony. Tho progress of tho series will bo watchod with koon intorost.