WELLINGTON NOTES.

Hokitika Guardian, 18 March 1925, Page 4

WELLINGTON NOTES.

WOOL PRICES AND PROSPECTS

(Special to “Guardi-Ji”.)

WELLINGTON. .March 10,

The continued drop ill the prices of wool is rather disturbing those interested in the trade, it is generally agreed that wool values so lar as the N.Z. r!ip are concerned were at the peak in November but the steady fall since is concerting. It is anticipated that at all the sales to he held this month values will drop 2d or more, which will considerably reduce the average price per hale for the season. It has been a noticeable feature of the recent sales that the withdrawals have been heavy ; they amounted to 10 per cent at 1 imam sale, and if this is to be tollowed at the subsequent sales there will he a considerable quantity of wool on hand which must either he carried over to the next season or he shipped to London for sale. It was estimated reeentlv that about 105,000 bales were availaide for the .March sales in X.Z., and if -If) per cent remains unsold there will l:o over 40,(XX) hales. To carry this quantity over till November, when the sales will lie resumed, would involve the holders in considerable expense and there, is no cert a ini tv that this extra cost will be recovered when the wool is sold. To consign the wool lor sale m London would not he helpful, lor London prices are no better, and ill inspect to several grades of wool, not as good as those realised in New Zealand. A comparison of prices ruling at the current London sales and those obtained at Wellington last month show that for hallbreds. s<)’s to AO’s quality. London price was 26d to 2!>d and the \\elliui'ton price 20d to 2(>.Ul; 48 s to 50 London 23d to 2Gd. Wellington 19(1 to 24>d; 40’x to 48’s London 22d to 2od, Wellington l.Sd to 24d : 44’s to 40’s London 21d to 2-Id, Wellington 101 c to oo>d - 4()’s to 44’s London 20d to 23d. Wellington IGJd to 20(1; 30’s to -Ill’s London lOd to 22d, Wellington toid to IR.UI. Fioin the London quotation* *>d p-er lb must be deducted for pent charges intones!. exchange commission, crokorage, etc. It will he seen that there is really no advantage in consigning to London. Mot brokers think that growers would he well advised to accept the market conditions, basing their opo mn on the fact that those who held over their wool from previous sales had eveiituallv to accept lower prices. Apparently another menace confronts tne wool trade, for according to a •-■c-nt caldc message, “ Graphic prophesies of an early panic in the wool trade ce made owing to success in expci t ("• •' in making svntlietie wool out ol wa-te paper.” Although this is vague. ; L is very piolmhle that artificial wool may sooner or later lie placed on the market; artificial silk is already weakening the wool market, as it is ysed as a substiLulo. It wo can have artificial silk it does not seem impossible to have artilicial wool. ABSOLUTE CONTROL. It is rumoured here that the Oruer-iii-Couucil for which the Dairy Control Board has made application, will not lie granted at all. I his indicates that the question oi absolute control ol the daii\ industry may la- discussed Parliament in I lie coming session. The Control Board has unwitttingly done a

great service by drawing attention to the defects of the Control Act. Sir John Findlay and .Mr M. Myers have given a considered opinion on the Dairy Control Act, and point out that the Act is silent regarding how payments to producers by the Board are to he adjusted, and point out that is of such importance that it may have to ho referred to the Court or even to the Privy Council. These eminent lawyers further say that, the Heard s power of disposing of its -principal's goods without, re fore nee to the principal or even in defiance of the principal’s wishes, is a startling invasion on the principles of our law. The eompulsorv control ol proportv belonging to a third party is the tioviet system, and this is what business men are alraid of. The precedent it sets no is a dangerous one, ami as one business man rental bed. that with such a precedent tic- Extreme Labour Party, it it should e*ci control the Government of this country, will he aide to make use of this precedent for the development oMts own vicious economic principles. This feature was referred to in the circular' i-xiic-d bv I lie Canterbury Chamber cl Common o. Mr A. D. .M< I cod. Ministei for hands, who is an adept at bind, remarked to a deputation of farmers at Christchurch that the < ■nvernnient was not going to he intimidated by any such circulars, which it persisted in would bring about Bolshevism and Socialism quicker than anything else. 'I he fact is that the Government lias had a rude awakening by the volume of on-

position tn absolute cnntnil and ilic opinions c.f Mr -Myers mut Sir John Findlay luivo greatly f,l rs-n<j;l hened Hie lii ilk Is of opponents. Tin- Government dun- nor issue tlit- Unlor-in-C'nimcil. WELLINGTON MAYORALTY.

There arc- three candidates announced for the Mayoralty. hut tin- l abour noni-inc-c; is. such a political dud I hat 1)0 nay 1.,- left out of the count. Colonel Mitcliell and Mr T. Forsyth will he Iho ]jrinci|)al c-oinhatanls. Colonel Mitchell is saitl to lie the choice of the Civic League. one of the many anti-political busybody organisations that infests the c-itv. These organisations are run by little cliques with axes to grind and salaries to draw, and do not really count lor much. However, the Civic I .eng no has insisted that its minioi itshall not seek I’arliamenlary '.oiionrs.

which will please the Labour ivieinoer tor "Wellington South, tor Colonel Mit- ( hell was a possinlo candidate. <U course, if Air Mitclu-ll is not elected Mayor he will lie privileged to slam! for Parliament. II is diffieult to say whether Mitchell or Forsyth will win. Rotn are popular to a eortain extent and have the following, and if would lie a good thing if Mr Forsyth nl-n agre d not to stand for Parliament if elected Mayor.