WELLINGTON NOTES

Hokitika Guardian, 6 April 1925, Page 4

WELLINGTON NOTES

THE WOOL SEASON.

(Special to “Quardi-Ji”.)

i WELLINGTON, April 3

Wellington is the premier wool selling centre of Now Zealand, and a review of the season which has just closed nvay he 'almost applicable to anj other centre. The season will be mcm--01 able from the extreme disappointment it gave to growers and brokers and even to buyers. The season provided a striking contrast to that of the previous season, for while in the season 1923-24 prices gradually advanced. from the opening sale in Nov. 1023, to the closing sale in March 1924, but in the season just closed there was a sharp and ■sensational advance or as compared with March 1021, and a steady decline at each succeeding sale until values at the close were ladov thus ruling at the closing sale in the season 1023-24. The quantity otiered at the first sale in November la>t was small and comprised about 72->5 bales. The quality, however, was exceptionally good, the bulk of the wool being of splendid colour, sound, well ■Towqi and verv light in condition and un.si.sted largely of what the brokers

call “American style" wool, that is wool eminently suited for the Ameii,an market. And the American buyers were let loose at this sale. They had no hampering price limits. They were told to buy and they bought regardless of cost. Their determination to sc- < tire lots at w hatever cost proved an incentive Lo Bradford buyers to force the competition in which the Continental representatives joined, and so the Americans were forced into p-uing extreme rates. It was. as events have proved, an unfortunate beginning for the wool was not worth the price paid for it by Americans. Wool was forced U]t to a dangerously high level, and a reaction was inevitable. The reaction lollowed, ami was continuous, for at each of the .succeeding sales values have dropped, and the values at the close were lower than the values at the closing sale of the previous season. Thus we find that line eross-hreds which at March -ale last year realised 18.1(1 to 21.U1 dropped to 17d to 19Jcl at March sale this year. Medium crossbreds lCjd to 20d this year to Kiel to lS:jd, coarse ciossbreds 16Jd to 17 ;d last year, dropped this year to lid to 17Jd and low crossbreds from 15]d to I'd fell 4° to Kid. It is a question now wlicthci the pendulum has not swung too far in the opposite direction. Admitting that the November prices were untenable, and that finance helped to doiprests values, at the same time it is believed that the statistical position of wool was strong enough to prevent values going below those ruling last year. Of the immediate future it, is’difficult to speak with any degree of certainty, ft does not seem likely that values will go lower; at the same time there is not the least probability of values going much higher lor the world’s money markets have been greatly disturbed recently and linn nee will he a continuous menace to rising prices. I’. AND T. association. The Post and Telegraph Association has held a lively meeting and politics figured largely as the hone of contention. This is shown by the resolution which was passed: "that this section is of opinion that the Association should lie entirely diVssooiated. either directly or iiulire: t!y, from any political party, and that the Service Journal should nat le used in any manner for the purposes of political i ropagand.i. The. Secretary of the Association is Mr 11. E. ( onibs, v,!:o has been selected as the Labour candidate lor Wellington North. It was alleged that political views we:e allowed to run riot, and eon tended that Mr Combs had become SO obsessed by polite s that whatever meeting he attended lie addressed it in the interc L ■ ti the party lie ivpieAt Ibe out-ct Mr Comb , l ife re I to withdraw Imm the Scct'clary-

ship on three months notice if that was desired by the Awoeiation. The question of affiliation with the Alliance (I Labour, which was really the piincipnl liu.-iiiiess of the meeting.. was j.olv hriclly dismissed. hut will bo further eonsidedeJ at a subsequent meeting. One speaker described too Alliance u< a awll body of political ]'ropagamiisfs who wish to bring all workers into one tremendous union t“ dit l-ale terms Co end lovers and Government generally, and to set themselves up as dictators to the rest of the community. Ihe columns of the “Jvatipo”, ho contended, were used for socialistic and radical attacks, oxtraoi clinary efforts to imbue the Association with a feeling of class consciousness and class hatred. The Alliance « f Labour was a- power at one time, but it is now a ‘‘diui’’ without any toiec cr punch. The I’. and I . Association, however., will be unable to get tree ol politics, for its eliorts to obtain liettei conditions must force it into the political arena. Eoliths uaw permeate every phase of life of the community; that practically every organisation or association is political to some extent. Th o . ssiiig of K'solutions will not eliminate the political element, because it is only by political 1 rcs.sure that, any go-jd ef.n he accomi lished. _ However, to come hack to Mr Combs, his ■■’nances of election- for Welling. North are extremely good, and it will .surprise, many if he, does not win tho seat.