WELLINGTON NEWS

Hokitika Guardian, 21 May 1925, Page 4

WELLINGTON NEWS

'll IK POLITICAL SIT!'ATI OX

(Special to “Guardi-ai”-)

AYKLLIXGTOX. -May IS

Xnturally tlio death of the Prime Minister has heen a severe blow to the Reform Party, and it has virtually kdt the Government in the position "I a rudderless ship, leaving it very hard to forecast what the result will !»'. It is well known that Sir Francis Bell, who has heen action Prime Minister during Mr Massey’s illness. is anxious to carrv on. hut, although there is a pro-

client for a member of the Legislative 'mined acting as leader in the House - is not at all likely that Parliament s at present constituted would agree

o siidi a course during the ing ses,inn. Indeed it is quite on tile cards hat some members of tile C ahinet night object. It is an open secret that .here are other aspirants for the iead- • i-sliip in the Ministry and this may 'urtlier complicate matters. The latest news of the lion Dowiiie Stewart, who js ironernllv looked upon as the rightl'„f successor to Mr Massey, is lo the

Meet that tile American medical ex,eris to wlnne he siihmitted hillisell mve all'eadt elf eel ed a considerable

improvement in the war disability Horn which he has been suffering, and lie hopes to return to New Zealand before tlin end of dune much benefit ted by the treatment. If his health should prove eqiml to the strain of the short session there can he little doubt that he would In chosen by the party. If this does not prove to lie the ease the choice of a Prime Minister should lie in the selection of either the lion. .1. (■. ( nates or the lion. A. Mel.eod, The former Minister in Charge of Railways and Post and Telegraphs, has shown himself a capable and fearless administrator, and the manner in which he has

lu'iiken through all precedent hears this out. hut his lack of Parliamentary pro-, endure might militate against securing the whole-hearted support of his party The lion Mr McLeod, the junior member of the Ministry, i- a man of great deti'Viniiiat ion. and a real hard-headed Scotchman, lmt he would hardly expect a following until he has had considerable m ire experience ol iniiii.stci - ial raid':. Although there appears like-1 Iv to he opposition to Mr Jack Massey, who is annouiieed as a candidate lor i.lie Franklin seat, so long held by his father, lie should win the eleteion fairly easily. This would leave parties practically as they were during the last session, and would mean that in order t 1 hold olliee the .Ministry would he dependent upon the votes ol the three Independent members, and while they were virtually pledged to support Mr Massey against the extreme Labour Party the position they would take up under the altered circumstances may he a horse of quite a different colour, it is hardly likely Um.L a iio-coiilidoneo million will he moved during the dying session of the present Parliament as members lor their own sake will not wish to precipitate an election. It. will ha interesting to watch events, espeeiallv with the more than possible shrinkage in the value of our primary products such as wool and butler, which must have a far-reaching effect, while linn lice generally will he a very imporlportaiit problem. WOOL STATISTICS. Wellington wool brokers are somewhat amused at the controversy that has arisen in Bradford between Sir \\ . 11. Aykroyd, past president ol the li rad lord Chamber of Commerce and Sir Arthur Goldlim-h. C hairman of the IL A.\\ .I!. A.. and must brokers heartily agree with the former who is prominent in the wool trade of Yorkshire. Sir Arthur did manage to make an accurate forecast in the past three years, hut in his latest venture he has gone wofullv astray, hecaii-" new factors have arisen of which lie lias failed lo take acouiit. It is perhaps quite an easy matter lo obtain fairly reliable statistie- of wool production, but i, i- ;[(•( VUJK V ill IV-IK’Ct lo wool COM* Hilt I>tion even limiting; to consumption »f the mills. However, llie.so incomplete statistics may he passed as providing some fairly reliable data, hut during the past twelve months a new factor has arisen and that is the iiceimmlatioii of stocks of ma mi lad tired and partly mamiliicl tired goods. During t his period (loth mere-limits have found considerable difficulty in selling goods because Ihe high prices had checked consumption by (he masses. Cloth merchants turned to the manufacturers and insisted noon being provided with cheaper goods and substitutes, particularly artificial silk were freely used. In the meanwhile owing In the liilfirlllties ol trade, the prfee of raw material has dropped owing to a restricted demand, which has been emphasised by a lack of i oiilidciice in the whole wool situatioti. Th.v sellers finding prices falling have taken their wool oil' the market and so we come round to the position that the supply of wool is apparently hi ( xeess of the current demand, and supplies arc piling up against a diminishing eeiiiHiid. Ruth sellers and buyers -,eem to he following mistaken policies—the sellers are wanting to sell at 100 high a price and buyers are wauling to buy at too low a price. r l he

trade is now in a transition period, and sooner or later sellers and buyers must adjust (heir dilferences. hut that will not he by round table conferences hut by file normal operations of the laws of supply and demand.