NEW SEASON’S WOOL

Hokitika Guardian, 17 November 1924, Page 4

NEW SEASON’S WOOL

IdlkST KAI.E TO-DAY. i ! WKbI.rXdTOX. Xovi-mlier 11. ! for tin' opening wool sale of the sea son, to lie held here on .Monday. (i-Vo hales are catalogued. 11s compared .vith 12.1-1!.'!; at the Xovemhcr sale last veil.' "hen. however, a consider:!ldo ipia itity ol carry-over wool was offered. I here would have heen a much larger dialogue for .Monday were it not for the adverse weather conditions and the Hoods preventin': the delivery of wool into store. Over ADO hales which Hero expected to reach Wellington early this morning had to he .shut out of the dialogue as the steamer In incite: the Wool was, at the last moment, leiayed 011 the coast. Notwithstanding the small offering. a. pood sale is anticipated. There will he a full hen -h of buyers, and prices are expected to ~0 well up to the Inchest point reached last season

Keen interest is being displayed in Itlie sale 011 account of the likelihood of unusually vigorous competition from America. It is reported on all | sides that America is suffering; a great shortage of wool, and it is understood that some of the Ameiiian buyers have heen instructed to obtain supplies regardless of cost There is a story abroad that America is likely to lilt the duty on wool for

the time heme, ;mi[ if this proves to lie the case the buyers will be able to go higher than lias been their privilege in the past. However, no confirmation of this information could he obtained to-day. A buyer for an American linn, to whom the matter was referred, said he had heard the rumour, hut had had no advice as to its accuracy. He thought that had it heen correct he would have (icon advised. The head of the wool department of a

Wellington firm was dolinitey against the story being correct. Thoie will he nothing like that happening.’’ he said. “President Coolidge is out for high duties, hut what ijie will do is to leave the duty alone for the time being. The position is that no one cares whether it is higher or lower so long as it is left alone and not altered. Then 1 they know w here they stand. I antici- | pate, therefore, that President C’oolidge will leave the duty severely alone. The duty on wool going to America from New Zealand amounts to about , one shilling per pound. America’s shortage of wool is attributed to her attempt to rely on her own production.”