WELLINGTON NOTES.

Hokitika Guardian, 6 October 1924, Page 4

WELLINGTON NOTES.

LOCAL WOOL SALKS. (Special to “Guardian”.) WELLIXGTOX, October H. 'I be growing popularity of the local wool sales is shown by the suhstaiitial increase in the ([iiantities sold during Ihe past wool season. Aeenrding to I-a Igety and Co's circular the total was V.).'l,,s!ji; hales against I7li,9ii(i hales in the season 1922-L'H, an increase id' h.'lll hales. In the season 19l’1-““ the • Iujin1 1 1y sold was -l(i7,Hs| hales and in the pre-war .season of 191 H-I I the ‘piantity sold was “Cl..‘■‘Ml hales. There Inis been a hie increase in the ten years, and it seems probable that there will continue to he expansion. In till. 1 past season the gain of 2t>,9H ) hales was shared in by till the selling "ontres except Auckland, Dunedin, Oisborne and lilenheini. The latter

two were not regular selling centres last season, although there is a pos■ability that Oisborne may he placed on the roster for the coniine season. Wellington sales showed tin increase of G.7.V) hales, Xanier an increase of I 1.'71' hales, Christchurch an increase if 1.007 hales, Wanganui an increase n 7,77- hales, Tintaru 1,757 hales iind [nvonnigill 11,27 s hales. The de- • Tenses were Dunedin H.IS2 hales, Auckland I,Til'd hales and Gi-.'.orne and Llenheiin combined H.S9H hales. The iueiease aggregated I’d,.Til hides and the decreases N,HOI halt's, leaving the net increase :it “(;,9HII hales. The sheep returns show that as at April .‘1(1 the Hocks in the Dominion increased by (,IM..T.T) head, and this increased number should yield approximately li’.tHHl hales of wool, which at L“H per hide which was t lit' average price realised hist season, should ii'.eau an addition of L'“7ti,(lo() to tin' income of the sheen farmers, and capitalised at d per cent means interest oil {.'1.G011,- (!(;:>. The additional sum simiild help to ease the mortgage burden. The

average price given for the past season was haseil on the pi’iees realised for l lie sales beginning m Xovetnher and ending in .March, during which pcriuil there was a continuous rise in values. Il current Loudon prices rule throughout the season the average wnitld he greater than L'l’.T per hale, because current prices are lip lo the highest |ioinL reached last season. Wool lookers are dubious about prices holding, for they consider values beyond the purchasing pnwrr of the bull; of tile' oeople who use woollen clothing. EXCHANGE I!ATI'N O.XCK .MOKK. The associated hanks in Australia have attain raised their selling rates on London, and the associated hanks in London have also raised their rates and this is the second such advance within the course of a few weeks. I'p to the time of writing there is no such response from the associated hanks in Xew Zealand, hut they will he hound In take action. It was thought that the rates in Xew Zealand would have been raised a lon night apto. when the rate was advanced in Australia. A meeting of hankers was held, hut apparently they were reluctant lo disturb the situation and furthermore they probably though! it expedient to help the Government in every way possible. It is dillicult to see how they can avoid advancing the rates now. They mav not wish to do so. hut the financial and banking connection between Australia and Xew Zealand is 100 intimate to permit the latter taking an independent course without suffering los-. The exchange problem, is the serious linaimml dilliculty of the luomonl and ii is likely to become lemporarily worse by dear money in Loudon. 11 is rcgai tied as prohablo ihat tiie Dank ol England "ill rovori to the field standard and at the same tinethe discount rale will he advanced to attract e.redilsto London. Some of I lie bio joint stock companies in Germany have placed their linances on a gold la is. t! i ; 11, i-, to Sin . tie-, li;m i de II >1 • d

I lie .■ 1 11<• . < I 1 1 1<-1 r mull- it .1 1, i ;iATTACK <>N HANKS. Tile I ••;! < l<-r nf the Opposition, lliu -Mr T. .M. Wilofrd. never (uses :i chance tu Ik; vc a iil.i* at. I In* iianks, an.! during lliu session his attacks lane keen I requen t. Scarcely nil any ucen-Joii lias his eiil iei-m been warranted liy lliu lari s. In t In- linns,- last Uui I iirs. lay lliu (h.vcrnmciil ini reduced tin- D.in -. |inliisl i t Aliinn'.lni(‘iil Hill which M-I-I.s In I'l'.lily certain irregllhi li I i tv; nil lliu hart nf co-operative cnmpnuies anil I liesc inogiiluritics have (-.visual I'nr years. That I liny were irregular was i nly discnvcreil <juit<- rccelilly through ill" judgment nl' l|;e Supreme ( mill, 'this Hill. Air AViUmd saiil, uas evidently aiinlliur bank Hill, wliile lliu inuinliur I'nr Stratford was good enough In sav Unit In- did lint. Ilai ii k tin- hanks c-i in til he I,l.lined if they were k.-liind it, because limy were Imavily involved in ihe dairying industiy. Thu ainunni, ul' linanuial assistanuu yi run hy Ihe hanks In the industry and :dsn tn oilier industries has huun very substantial. Alone.v has huun full ml iin! merely In linancu shipments of dairy |irndlice, hill' also for llm eruulinn nf buildings and the installation nf plants. It is dilfenlt tn .see what rimil nnrpnsu is served by uciilinnally urit iuisiiu-; the liankers in a carping spirit.