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Hokitika Guardian, 6 December 1924, Page 2

Tun boom in the wool market, where record appears to l>e eclipsed by record at each succeeding sale, will result in a large additional sum of money lieing received into the country. The newspapers in the several centres where the wool sales are held, naturally give hoth prominence and detail to the event, and it is realised that invariably the bench of buyers proves to he quite

the largest on record, promising .it once spirited competition. Apart from the buyers for local woollen works and Australian concerns, English buyers are present almost in dominating force—for they secure a substantial quota of each catalogue—as also buyers from the European Continent, America and Japan. The extraordinary demand for the wool is not being explained. The demand at the price quite took the brokers by surprise, and although several sales have gone bv, the experts are still unable to plumb the market, or to forecast values, for the reason that they are not in a position to gunge the demand. There must of course be some reason for the high range of prices. It seems singular that buyers from all quarters of the globe should lie bent on buying up wool at this juncture at any old price. One commercial man noting tile lliictuations of the lead market the other day. thought that perhaps behind the scenes someone bad disuivered signs of a possible war, and lend became a necessary commodity much in demand. If there lie anything in this surmise, it would be possible to account at once for the demand for wool. A similar reason operating on the mind of nations, would create the boom in wool. John Hull, judging by tlie Bradford buying, is evidently alive to the possible situation, il there is anything in the surmise, and English buyers arc purchasing heavily, notwithstanding the fact that but recently there was a glut of colonial wool at 11 oino. 'With American and Japanese buyers figuring also in the arena there is the conclusion on the possible surlii iso, tlui t those countries are not without interest in the proceedings. Following this line of thought there is the explanation for the extraordinary prices for wool, and the sustained demand at the high rates. The harvest to the Dominion is undoubtedly great.

Tin: decision of the Canterbury Progress League to recommend the Gov01*11 moilt, to bridge all creeks oil the West Coast road will be a] predated on this side of the ranges. It is to lie hoped the influential .support of the parent league will he effective in this matter. The link by road is a very necessary one. as is demonstrated very • ifti*ii in emergency and at the time of railway strikes. It prevents 11nCoast being cut off altogether, and it is in the public interests to see the road effectively maintained. The bridging of small Streams Oil tbe Christ! lunch road has been advocated for some time past, and a measure of attention has been paid to the requests, hut there is still much to be done to meet at all ad*quatcly the requirements of the re: d. Then* was a fairly substantial vote unexpended for the work carried forward from last year’s estimates so that there is the nucleus of a fund for urgent attention to the matter if the authorities feel so disposed. Now that the road is so much in use over the summer months for motor traflie. the request should be pressed to the fullest extent, and the various bodies on this side of the mountains should join in supporting the request from the Canterbury Progress League.