The Gisborne Times PUBLISHED EVERY MORNING. FRIDAY, DECEMBER, 6, 1907. THE WOOL SALES.

Gisborne Times, Volume XXV, Issue 2056, 6 December 1907, Page 2

The Gisborne Times PUBLISHED EVERY MORNING. FRIDAY, DECEMBER, 6, 1907. THE WOOL SALES.

The futility of human reckoning was strikingly evidenced in tho wool •sales that were held yesterday in tho Farmers’ Club rooms. With a proper appreciation of tho increasing importance of this district from a pastoral point of View, local ,woolibrokers went to considerable trouble to arrange that this' year Gisborne should be included in "tho list of fixtures which are attended' by the leading English, foreign, and local buyers who compete for the wool offered at the chief centres. The chairman of the local Association, Mr. Bright, made a special journey to Christchurch, and got the'dates allotted and promises that the buyers would attend. Everything was in train for a new epoch in the pastoral progress of the district, yet the net result has been a miserable farce. All calculations in the wool trade have, of course, been completely upset by the financial crisis oil the world’s exchanges. With monetary tightness, -manufacturers either cease working or reduce their operations, and the price of the raw material naturally must fall. America is scarcely buying any wool at present, and a reduced demand lias been unmistakably shown in England and on the Continent. The positioil from a. sellers’ point of view lias been made even worse by the fact that the Australian, clip, owing to favorable weather conditions, has been marketed earlier than usual, so that there is, for the moment, ait any rate, an over-sup-ply. iln such a case, as we pointed out the other day, it is the coarser wools which first feel the pinch in a reduction of prices, and thus "it is that Poverty Bay farmers are being asked to accept from 2d to 3d per lb less for their wool than was the case last year. Naturally, they are disinclined to do this, preferring to hold their wool or send tlieir bales to Loiidon, in tho hone that the market will have again firmed by the time present' cargoes reach their destination. Therefore they withdrew most of the wool they had intended submitting to auction yesterday, and the buyers who were at Napier, when they ascertained that instead of about 5000 bales only 1000 would be" offered, and these with pretty stuff reserves, naturally declined to waste their time by coming here. The whole circumstances are unfortunate, because the holding of a really successful sale here might have meant a good deal to the pastoral industry of the Bays. It would have given our sheep-ifarmers a a opportunity to see precisely what advantages, if any, are to be gained by selling on tho spot as against shipping on consignment to England. Provided the buyers are well represented, we have no hesitation in saying that the result would have been in the highest degree beneficial. It is desirable from every point- of view to have the brokerage portion of the trade- kept in tho country, besides which it is a very great convenience to "small.holders to be able to’ sell promptly and for cash the whole of their clips immediately it comes off the backs of the sheep However, it is idle speculating, or the point just now, and we can -v u express tho hope that more favorable circumstances will be apparent on the next sale date allotted to tins town, namely, February 20, and •that those who have shipped on ilu* present occasion tHU have- their judgment supported by results. Despite the pessimistic expressions or opinion given by a prominent buyer to our representative, we are st.'il hopeful of an early rise in the market at Home. There may not be an actual return to former values, as the present financial troubles will take some time for readjustment, but in view of the present statistical /position of wool oii the world’s marfket we can see no justification for a /permanent lowering of values + o the | /level that they at present occupy

Members of Hie Gisborne Chess Club, are requested to assemble on Saturday evening at 7.30 lor the final match of tins present season.

Dr. Cockayne left for Knpiti Island yesterday with bis collection of Antarctic birds. He has with him Captain Dorrien Smith, who wjis also a member of tho recent expedition. Mr. M. J. Brownlee, architect, has received information that tho tender of Mr. John Somervell (£4085) to build the hotel at Tolaga Bay has been accepted. Messrs Redstone and Sons’ coaclies arc now running twice a week between Gisborne and Wairoa, via the Morero hot springs, leaving both places oil Mondays and Thursdays at 7 a.m.

H.M.S. Pegasus paid a, Hying visit bo tho Bay yesterday afternoon cn route, for Auckland to join tho Australian squadron, which arrives there about tho 9th inst. Tho squadron led by H.M.S. Powerful will cruise in New Zealand waters until early in February.

Anfongst several animals condemned and destroyed during last month by tho ollicors of the Stock Department, showing symptoms of disease, was a pedigree Shorthorn bull. A post mortem examination of . this a)nimal revealed tuberculosis in a most advanced stage. The owners, suspecting disease from the appearance of the animal, wisely communicated with the Department, and on examination by the Stock Inspector the beast was at once condemned. Tho unfortunate part of it is that this animal has been used largely lor stud purposes during the past and present season, and there is no doubt that according to authorities the progeny of & sire in sucli a condition may be more or less affected.