The Chronicle LEVIN. WEDNESDAY, AUGUST 2, 1916. "AUSTRALIA'S GOLDEN FLEECE."

Horowhenua Chronicle, 2 August 1916, Page 2

The Chronicle LEVIN. WEDNESDAY, AUGUST 2, 1916. "AUSTRALIA'S GOLDEN FLEECE."

I We. have receired. from I>algety and Company, Limited, a copy of their annual wool report lor the past season, which gives a complete account of the business <lone in Australian and New Zealand market* lor the past- eweiiv moilths jiust ended. There is also embodied in it lull statistical information u ith regard to the tales of wool in various markets, distribution of purchases, overeoas shipments and sheep returns, and, in a word, everything that lias to do with the handling of tile Australasian clip. The report is of value to every woolgrower, as it puts ail wool matters on permanent record, and enables any particular aspect of the trade to be analysed and studied. It may be mentioned that it lias now rci.ched its eighteenth year of issue. The most important fact in the whole compilation from the woolgrower's point of view is that the total value of tlie Australasian wool clip (for export) in the past season- amountedi to thirty-three millions sterling, of which a little under thirty millions was realized at the local sales. It would, perhaps, be thought tHat this sum would establish a record for Australasia but such is not the case, as owing to the lessened production through the drought of last season, the 1913-14 season. with a bumper production, realized about half a million sterling more than the 1015-16 clip. The average | wool revenue obtained, during the past | three seasons may be regarded as omi- | nentlv Satisfactory, and if similar re- | turns can be secured in the ensuing season, producers will have every reason to be more than "pleased witli the value realized for the clip generally. The matter coming next in order of importance from the wool-grower's standpoint is. perhaps, that of the delii'midi for the wool marketed and the distribution of same. Inking everything into consideration, the demand, generally speaking. was excellent. American buying was wonderful, and had no equal in the history of Australian sales. There was also important, purchasing on account of Japan and Italy, while France and the Aust.alian mills also gave good support. 'Yorkshire was the mainstay cf the market, taking 41 per cent, of the offerings as against 04 per cent in the previous season, the smaller proportion being accounted, for by the much stronger buying in the past season on account of America and Italy. The large requirements of the Allies in the way of clothing for the troops exercised an enormous effect on the raw material market-, and from the present outlook it seems probable that there will be a continuation of this speoi'al demand, at any rate in the near future. The outlook for wool sales is considered by Dalgety and Company, Limited, as particularly bright. At the close of a season which has seen the highest level in modern history, it

may savour of undue optimism to look for a firm continuance of such prices, but there seems to be no valid reason, to anticipate at present anything in the nature of a severe decline. The enormous wastage of war continues, and the backbone of the demand in the coining season may again be the requirements of the imge armies of Britain and her Allies. The wider distribution of the past season's purchases as compared with 191-f-io, removes the clanger of further congestion, and the longer breathing space 'between the selling of the old and the new c»ip strengthens the position. Consumption is heavy, not only in Yorkshire, but also in America, Japan and Italy, and this, together with prospects of increased business from France, slionld result in a keen demand all round, and it will not be surprising on present indications if another year of abnormally high prices is experienced, especially if the latest embargo which now shuts out, America is removed;.