The Chronicle. PUBLISHED DAILY

Horowhenua Chronicle, 17 February 1913, Page 2

The Chronicle. PUBLISHED DAILY

LEVIN.

MONDAY, FEBRUARY 17. 1013

PRICE OF \\ r OOL

AuSTIIAIiASIAN -Wool Oil till) Loiulo'l market—its prices ,and fluctuation* — always is a subject of importance to dwellers in these islands. It i.s no mere figure of speech to say that tlio enhanced prices that prevailed this year came «o opportunely that they virtually stood between woolgrowers and the recurrence of buid times. The financial position w*is well illustrated in tin , experiences of one Levin farmer, who assured us that although his'clip this year was down to less than a dozen hales it notte<l him as much as he received last year for two dozen bales. Some interesting details of the London wool market variations and the causes behind them nre contained in a circular to hand this month from Messrs Charles Ba-lme and Co., dated Ist .January. It begins with a statement that trade has been exceptionally active- during the year which has just come Io a close, although ; l has been ham pored to ia certain extent by recurrent labour troubles in England, .and on the Continent by political anxieties arising from tlio war in the Balkans.. Throughout the period under review however the requirements of machinery have been so pressing and the margin between the supply and demand so narrow that prices for raw material were not impaired by these dfsturbing factors; indeed,, the- gradually increasing size of the estimates of tho shortfall in tho Australian clip this season, consequent on the recent drought, led to a sharp upward movement in tho valuo of all classes of wool during the latter part of the year. The rise was accentuated hy the recollection of the case with which the trade had absorbed the record wool production of 1910-11 during the previous year. a- fact which made consumers apprehensive of the possible effect of a shortage such as that indicated in Australian advices (the figure mentioned varying from 250.000 to 300.000 hales), as it was evident tlTnt. even allowing for somo contraction in European trade as tlio result of tlio war between Turkey find the Balkan States, so largo a. reduction ators should come into the market embarrassment to manufacturers later on, especially if American operators should come into thhe market as free purchasers of either raw wool or goods. Owing to the general strike of coal miners in this country during March, which disorganised all means of transport and caused many mills to close down temporarily, it was deemed expedient by both importers and brokers to abandon the March series, as they realised that it would be most prejudicial to the interests of colonial shipers and all connected with the irade to hold sales while business was in such a chaotic condition—a decision which was fully justified by the subsequent course of the market. The July auctions wore also interfered with by labour troubles in this port; thanks, h'ovrer, to tbo bold policy 'adopted by tho Port, of London Authority, it was not necessary ifp postpone them, although to faoili-

tate the work at the warehouses much smaller quantities thau usual were brought forward in the daily catalogues. With larger .supplies available in Jamury. the market was hardly .so linn as at the finnl sales of the previous year; the fluctuation, however. w.;\s not very pro-

nounced nnd did not exceed ~> per cent. Merinos were quoted par to 5 per cent, cheaper, the depreciation being greatest on medium and inferior sorts, while the position of superior grades was practically unchanged. Greasy crossbveds sold at December quotations during the earlier days of the auctions, but prices weakened later on to the extent of o per cent, except for the medium to fine qualities suitable for tho American trade, wliioli continued to sell rr-ndily .at opening rates: the .small quantity of sconreds and slipo.available met with a. somewhat irregular demand, at a dpcl'me of n poi" cent. South African combing grensies were 21 to 5 per cent, cheaper, but clothing lots maiiitaiaed previous values: super snowwhites; and scoureds worn about 5 per cent, lower.