The Chronicle LEVIN. TUESDAY, MARHCH 7, 1916. THE PRICE OF WOOL.

Horowhenua Chronicle, 7 March 1916, Page 2

The Chronicle LEVIN. TUESDAY, MARHCH 7, 1916. THE PRICE OF WOOL.

Crossbred's ivool, now tile utapls product i>l .New Zealand, lias risen in vajue by 27} per cent during IKIS, by comparison with values for the year imiiicdiiately preceding. This, added to the wonderfully good prices ' realised tor butter and cheese, hae placet! Zealand in a, very favourable financial position, and eesures tilia dominion a monetary position more t'han equal to Ui© extraordinairy expenditures necessitated by taking our part in the grfcat war. Australia is even better placed, for an average rise of 50 per cent has-been experienced in respect of merino wool, which is the predominating; export of tihe island continent. Figures given in the trade circular of Qharlee Balm© and Co., the well-known wotJ-brokers (ftfom whom an early copy is to hand at The Ohronioj» office) show -the following risee: Tihe vaiue of merino wool has risen an average of 50 per cent, line crossbrods to per cent, medium 27§ per cent, coarse 30 per cent, South African greasies 40 per cent and scoureds 30 per cent. Prioes hare naturally fluctuated coneiderably, the course of the market to a certain extent being governed by the action of the authorities in prohibiting or allowing the shipment of wools from this country or Anstraliato friendly neutrai. Owing to these restrictions, a very large proportion of the colonial production has been taken by Home buyers; indeed, so great were the commitments of this section of the trade that in July and August a collapse in values, more particularly of the oooriser growths, appeared imminent in spite of the enormous consumption in this country. The removal by the Government of the embargo on the export of crossbred wools and tope in September and October respectively, however. - saved the situation and led' to a freeh and rapid advance in quotations for both mevipos and crosabrede during the latter part of the war. Throughout, there has be«Mi.,an-aetive but capricious demand fffrmll-kmds of wool for shipment to America, as well as a keen enquiry for scoured merinos on Russian account; the French Government nave also been buyers of oroeabred wools, but the market has received no appreciable support from other sourcos. In addition to the enormous output of khaki and hosiery, manufacturers hare produced large quantities of army clothing for the Allied Government, besides whloh business has gradually recovered from the collapse of credit which occurred on the outbreak of war, and much machinery has recent# been employed in the production for foreign account of cloth wfiica was formerly ifiade on the continent; indeed, under present oonditions. the United States, Japan and this country are the only centres where ordiers of I any magnitude can be executed. I 1