WELLINGTON NOTES.

Hokitika Guardian, 1 April 1925, Page 4

WELLINGTON NOTES.

WOOL SEASON ENDED

(Special to ‘‘Guardiwi”.) WELLINGTON, .March 30,

The wool season of 1921-2-3, so fur as the North Island is concerned, terminated on Friday with the sale held at Wellington. At Napier, Wanganui and AiicMaml where sales were held during the month, prices declined as compared with February sales, and it was anti-

cipated there would he a fall in Wellington. Prices did decline, but not to the extent expected, and as a matter of tact the sale exceeded anticipations, there was good reason for the depreciation recorded in the other North Island selling centres, and the reason

was focussed in the single word “ finance.'’ On .March .3 the Hank of England discount rate was raised from -I to o per cent and this automatically added I per cent to all hold; overdraits in the I'nited Kingdom and affected

Continental finance also, lieing thus suddenly called upon to nay I per cent more for hank accommodation the buyers had naturally to make adjustments. As one broker recently observed, 10,Odd hales at C 2-3 nor hale menus a quarter of a million of money, and an additional 1 per cent interest on this amount means C 2-309 or the value of 100 hales

of wool. There was reason enough in this for buyers to curtail their purchases and to endeavour to buy more cheaply. The effect of dear money was felt In Nanier and the other centres, hut judging bv the salt* in Wellington the effect of dear money is wearing off. Messrs Kevin and Co., who had the largest catalogue in the sale, and who offered a number of good crossbred clips, equal to the .standard o! January and February clips, say in their report : ' 1 Ihe sale.* showed a firmer an:! hardening tendency. We found bidding brisk and keen lor good crossbreds. America was taking any suitable lots. lirad ford was a good buyer of all grades ol wool. The Continent was also operating lor rough and dingy crossbreds, hut on a restricted basis. Lambs of good quality sold much better than was anticipated, France be-

ing a good buyer. Altogether the sale was (pule a satisfactory one and better

than was anticipated, taking into consideration recent reports from all wool centres. The sale has created a most hopeful feeling and many are wondering whether the downward trend of the market has been arrested. There is no question a to the statistical position of wool, which is a very strong one- and if current prices nice maintained growers should he well satisfied. ’ HUS V. Tit AIM. r lhe transport problem is a very serious one in Wellington, and we have yet to find some one capable ol dealing with this problem in a .-atislarfory manner. Living in any suburb in Wellington means residing on the hills, consequently the suburbanite w ants to he transported to and from his home. Wellington’s tramway service is very passable, all things considered, hut the convenience of the suburbanite still requires study. Owing to the hilly character of the suburbs and the roughness of the roads, private motor buses have not ventured to provide a service. There is a motor bus service between Wellington and the Wairarapa, and between Wellington and .Manawatu, and also an observation motor bus for the convenience of visitors to the city who desire to see the hays nearby, hut there is no “licit thing as competition with the tramway as i.- ‘he ease hi Mime other centres. Wellington’s trark- !(.,, ,-ar pas proved a great sun ess oil the Ilut.t Load, and it seems as ill there is scope for further development | in this connection, it adequate transport iiittid be provided at. a reiisooaliLrate, the city would extend in many directions. *i he city is p.rowiug, the population is steadily increasing and the r.ro-.le are willing to venture into the suburbs, lint the absence of i ran.-oorl debar' them. T hove who | 1::,..' Proved t dillieulty and have; made their homes in the .suburb.-, find that apart from the daily expense, the iiublirhan storekeeper, green grocer, butcher, and linker (barge little more i ban town prices to cover the cost of transport from, the city. The transport problem is a dilhcidt one. nevertheless so far as Wellington is conreriied, a good deal depends upon it-; correct sola’ l inn. som!■: rumours. For the moment the agitation in res- , pact to absolute control of the dairy industry has eased oil', those opposed to it being satisfied that the matter will lie discussed in Pniliainoni during the approaching session. In the meanwhile there is a rumour current that the Dairy Control Hoard, or some of ti:e members of the "Hoard are anxious to indulge in a little publicity in the* form of a monthly or weekly paper to give publicity to the propaganda of lb • Hoard. .Humour goes so far as to indicate that .Mr A. d. ilcigliway, who has just resigned the nosition of publicity manager to .Mr GonillVllow'* daily

organisation is to he appointed editor It is difficult to snv how much foitnda turn in fact there is for those rumours