THE WOOL CLIP

Hawke's Bay Tribune, Volume XVII, 22 November 1927, Page 4

THE WOOL CLIP

WHAT IT MEANS TO HAWKE'S

INTERESTING FIGURES

At last night’s meeting of the Hastings Chamber of Commerce the president (Mr. J. S. McLeod) in a conversational discussion on the wool prices obtaining this season, certainly confirmed the predictions made by him in his presidential address at the close of the Chamber’s year, when he said that times were going to be better and that wool would go up. Mr. McLeod informed the meeting that, taking last year’s wool sales in Napier, totalling 91,372 bales, at £lB a bale, making a total of £1,644.696, as a basis. last Friday’s sale at Napier brought £5 a bale more (£23) over the , average value of last year’s sale, or an increase of £456,860. provided the prices ar» maintained as no doubt they would be. On the basis Stated, calculated at £23 a bale, the Napier sales would result In a return

Of £2,104,556. This' said Mr. McLeod, did not include the returns from Dannevirke and the more southern districts in the Province, because, though they were in Hawke’s Bay their wool did not go to the Napier salese but went through to Wellington. Then a certain proportion was sent direct overseas, the total running approximately from 8,000 to 10,000 bales, but as no exact figures were available as far as the wool sent to Wellington and overseas was concerned, they must be omitted from the calculation.

Hawke’s Bay was the second woo) port in New Zealand, Wellington, with 108,572 bales, a lead of 17,200 bales, being first. Of the wool sold by. auction, with the sole exception of the year 192425, the figures realised at last Friday’s sale were the highest of any previous season. All this would go to show w-hat wool mealt to the prosperity of Hawke’s Bay.