WELLINGTON NOTES.

Hokitika Guardian, 30 June 1924, Page 4

WELLINGTON NOTES.

TIIE WOOL -MARKET,

(Special to “Guardian",)

WELLINGTON", June 27

I here Me «- t uito :i number of people? in l*n-iiiic-ss in Wellington who do not I eel ipiile .satisfied with the wool market. The statistical position is admitted to he very strong, that is to say that the - supply of wool is not equal to the normal demand, nibi therefore prices should reiunin linn; hut they contetid thal there are several other factors that must lie taken into account, because of their hearing and inllttence on the market. First among these is the revolt of consumers; this elucidated means that the prices of woollen clothing and woollen fabrics have been forced tip through the high cost hi raw material to a point where con-unn’rs are forced Into economy, and this revolt is world wide. It began .■oini-time ago when merino fabrics i became expensive and “high-class” tailors found it necessary to charge 12 gtiitieus to II guineas for a suit. The merchants found they could not move the ehiilis from their shelves ;.i a normal rate and they in turn demanded cheaper fabrics front the manufac-ttil-ers. Something they could sell. 11 was then that a demand sprang up for crossbred wools. Manufacturers of woollen go in I* maintain that they eanimt gid prices for their manufactures bouimeitsurale with the cost ol raw material. A second inllucncc that is having a detrimeatal effect oil the wool market is the debased currency, and the difficulty “f the exchange-. At lie- Jkiv wool >alcs in liindon this diUically helped to depress the market and as will he remembered the -ale rlo-ed with the values lower by Id to ltd per lh. Since the London sales closed sales have been held in llnshane. Melbourne, Geelong and Sydney and at all centres prices uore lower. The financial difficulty is not insuperable, and its solution is merely a matter of time. There is a third factor an.l one that is not always taken into account when considering the wool position, and that is the supply ol adulterated fabric?. Colton comes to the aid of the woollen manufacturer when it is desired to reduce costs, that i-. when it. i- h a.soiiaoly cheap. lhtt cotton itself has been scarce and litis sold as high i- l c d ami l!td per lh. tin •May HI the Liverpool (imitation Tor American middling upland cotton, that i- a standard quality of tiotUin, was 17.970 per lh. amt on June 21, lhat is three weeks later, the price was 19.70 per lb, or a drop of 1.270 per hi or Lid. This is a sharp decline and there is tv reason for i'. F.ei-ent reports from the American cotton fields indicate very favourable growing conditions in the majority of districts, v> ith a probable planted acreage of about .‘19.01i0.000. This represents the largest area ever planted in cotton, and given favourable climatic enmiiiioiis might produce the largest crop on record. 'I lie fall in the price slated above indicates a Invoure.ble outlook, and il cot toil lulls to Ud or I .’hi per lh. it could be lively u.-ed in connection with wool. It will la- seen that it is not exclusively a question of supply and demand, although that is at tlio base, hut the other factors must l.e considered in conned ion with the matter. The Bradford woollen trade* i- sullering from a mild depression at the moment and the workers are demanding an increase in wages, and such conditions do not make lor an advance in values. However, the Loudon wool >e.!cs begin on Tuesday, July I, and these should indicate the position. It would not

t.trpri'-e the writer to hear of a slight fall in values, in which crossbreds are lihelv to suffer to some extent.

DD-T'ilKDi i A!!!.!•: DISPLAY. Krs'ii! :• il accuua.ls leacliinu the Dominion il is uovimts that the <lis|*l:iy liiudo liy New Zealand lit the Wcmhley Kxliihil it'll i- not l;y any irn •:! ns. ereilrnhl". !. appears to <;o iarhinu i.i ;i!l 1 lit.* <• - -i-Mt i.ii --III :i !v 1 fur ;i yon, l di'|i!;iv and ;i pood ndvcniscmcni. and is evidently iii-• work el t-ir.»i istieul tn;i----11• ni'-. ii would 1,.- linril in -ay who is direil ly 11 —jji.n• i l lli for l In' pom - exliiuitiun. Inn inn'i.ihU lliiU useless i M't'i , -: , i ii’f :! 111 •-»M ill.*.* depart lili-Mls, t!i.* hoard ni Tr.nl.•, i>. larin-li Lu hlame. il v. .is staled -. 11111 • I mil' ai>n licit this department was lo In* ciillslmeted nr rliiiiiiiiiU’il. hut jiiijci foil l!y not liitii' Inis keen linin'. With :i Dopin'triit-nt nf I ni]ti I rii's and Commerce, and a Stalil -t-itl Dopin'lneeit niio i amini under si ill id tin 1 lined I'nr til.? Hoard ni' Trade. I’iviT silieo ii Wll:. sot lip with -MeDull(ild i;i the head ii has linen mure nr aid at i!ie I lend Ii lie- lieeii more nr

pil l'll tile e,HU ml in siiitar and the raiininup ui other eomaindiiins and even iiuv. H is euinrulliup the wheat and pollard and Ilnur supplies nf t!ie (nullify. While licenses ean he obtained Lu import pollard the I'epartnirnt itself due.; the wheat impartial;. Yi'hv? Iluwever, if tiie Weiahley disi.lav is not a pond advertisement i".“ Vev. Zealand WO ean inu-ule oWr.'idres v, it !i the fact ilia I 're are .'ending 11,, iii.. a liisl-elass advenisenienl in the "All lilaeka. - ’ The Jtlll'i All Hacks prc.e! ail exceptionally pun, l sidver-

ti ein.-nl i ir New Zealand for the l\nplisli new s|>;i;ioi's had siinjily in cm Ini tiie X(U Zealanders and make a fuss nf lI: !■ ill . Till' peiiple nf I’lilllill WC'l'C thus forced lu learn somethin*; ahout. New Zealand.