WELLINGTON NOTES.

Hokitika Guardian, 7 January 1925, Page 4

WELLINGTON NOTES.

AFTER TMK HOLIDAYS. (Special to “Guardian".) WELLINGTON. January o. Although tile weather was atrocious just In To ru Christmas that did not interfere very much with retail trade. The people had the money to spend and they .spent it in spite of the adverse weather conditions. Gift-Giving this Christmas was probably on a greater scale than usual, at all events the Post Ollice statistics show that considerably more mail matter was handled during this Christmas than at any previous festive season. The congestion in the mail room for the two or three days before Christmas was terrible. The interval between Christmas and New Year furnished a breathsped I that enabled the officials to catch up the work. Now that the holidays arc. over it will be necessary to settle down to the realities of life, lot 192 Y will be a strenuous year. notwithstanding that the outlook is very pro-

mising. It is probable that great monetary changes will disturb the economic atmosphere, and our duty is lu nucleiially increase production. The high prices ol to-day the world oxer are due to shortage of supplies, and cwervwhcre great efforts will be made to supply the deficiency. New Zealand must necessarily do her share, and the high quality of our products must ever be our watchword. THU WOOL SALKS. The January wool sales have begun and the nrospoets continue promising. The buyers are being called upon to lift a larger quantity of wool than was the case lasi year and as money is the disturbing factor all the wool offered may not be cleared at the prices fixed by vendors. In Australia while the clearances in November ran up to 90 per cent., in December it. was down to Ml per cent., and the experience in New Zealand was pretty much the same. It is noteworthy that in the .second half of last, month there was a sharp decline in the quotations for Bradford tops and there has been no recovery since. However, it is pleasing to note that tne lower grade wool have not been affected to the same extent as the liner wools. A good deal will depend upon American competition. and if this is in evidence values will be linn. It is generally agreed that the Americans are in need of wool for last year they bought very little foreign wool, and not only that but it considerable quantity of their foreign purchases were resold in London and on the Continent. 1 here is just now something in the nature ol a trade boom in the l nitod States owing to the cheapening of money and therefore the Americans may buy wool a little more freely titan was the ease at the December sides. Oi the Continental buyers it is doubtful whether the Krencli will be able to operate to

any great extent. Kranee is suffering severely from limincial troubles, and the discount rate of the Bank of Franco is up to 7 per cent. Belgian finance is closeiv mixed up with the French and the Belgians may also be forced to buy sparingly. Italy is suffering from political disturbances, which may have lar-roaching ellects. However, Italy run only take a limited quantity of wool at the best ol times as her textile industry is not very formidable. Cernmay needs wool and will buy much more lively than any of the other Continental countries, and we may expect to see a good demand lor the better gradings ol crutebiugs, bellies, pieces and locks. Bradford as usual will absorb the greater weight of wool, and Bradford competition will force all others to pay full rates. The wool market will show lluetuations. but that is only to be expected. FALL IN BUTTER. During the past two weeks ol last mouth New /"aland c boieest salted butler dc' lined “Us per out in ll’e London uuukrl ami will probahK ' lower during the current month. Between July and November last there was a great shortage of supplies, and prices necessarily advanced. Ihe high prices in turn checked consumption, which largely turned to margarine, for there was an enormous increase in the import of this n mmodity into the |'oited Kingdom. Now supplies from New Zealand and Australia and Argentine are beginning to arrive in the terminal lmiiket and in im l easing quantities and the prices arc lulling. Production is expanding in all producing countries and because ol the temptingly high prices closer attention is being given to the development of the industry in many countries. High prices effect their own cure bv inducing new competitors to enter the market,. All authorities agree, however that the current season will be a good’ one for New Zealand, and although prices may go lower than they are now the unpayable level will not bo icached. that is'to say, at the lowest quotations this season there will still be a handsome profit for the producers. The maintenance of high <( ualily will more than ever be necesSit TV. ' t