WELLINGTON NEWS

Hokitika Guardian, 2 October 1925, Page 4

WELLINGTON NEWS

THE LETTER MARKET

{Special to “Cuardim”.)

W KI.I.IXGTON. September .‘SO. Tl;c fill-rent London quotations for . v Xeitlant] siilted butter is 21 Xs to v.!:j, Ii makes the middle price 21-ts and ill.il was llie quotation at the enrre -pondm_; date last year. w llieh to ..inie extent proves that the strike of !!, ilisli seamen, which now shows every indication of li'.t-tlinp out. ha~ so lai dad very little to do in foreinp up the value. The fact is that at this time el the year the Kuropean make til btltier contracts. and there is very little available from the Soul born Hemisphere. The present hk-dt price appears to lie due more to speculative 'aiivilie than to any aeuiai scarcity. Apparently the retail prices at Home have not yet been advanced and accordin'; to the " Grocer,” ilm only pos--iMc solution is to nilvaiu c retail prices and s () (dioeli consumption. In point of ,act it siiuplv means rationing the community. The dancer of tins is that ; |,/. j;• rh retail jifiee.s ma\ be niaintain,.d loin; alter they have served their purpose and thus lead to an aeeilin.illation. liritain’s weekly consumption is estimated at n.OOO toils, but. this <ju:uil it v will not be available durinti the next two or throe months. consequently the butter market must lie a jii-m (me. It the strike ends shortly Iheiv will lie heavy shipments Irom Australia and Now /calami for holders ~f the produce "ill no doubt be anxious Pi secure the peak prices, l'orccasfs of the future of the hntt.er market must he accepted with a "rcat deal of reserve for there are ton many lectors pi he taken into consideration, and one of the possibilities of the inmiedi- .([.. iiiinre is a ha ideiiiii:; of the money markei. .lusi now i h.e point ol inter- ( -L tor New /calami is the termination of the strike. UKLIAIiI.K WOOL STATISTICS. The pre.ssine need for reliable stations respectin'.; wool have lolly; been r‘*eopnisei!. Ifeeoutlv oHioial someos in the TTiited States suyyested that the statistics should lie compiled hv the ternational linreait of A yrieiilt tire. hut i here are nianv objections to this. I lie Wool Textile Delepalion lias considered lhe matter and its views are embodied ill a report published in its monthly nublicaiioii. Its says: "'I lie heavy fall in wool prices duriny; the last six months has yiven removed vigour to Ihe discussion ol the problem of eliminatin'.; larye lluet nil i ions in the price of wool. There can lie no doubt about the costliness of these chanpos to i lie industry a,s a whole, and the occasional wood fortune of a speculator is no compensation for the dislocation ot trade which follows in their train. Xatuiallv i lie IhoupliL of the market turns towards stability and control. I hero is almost an unanimous opinion in favour of stability, hut il is quite evident t'mt any orpamsed control is' not viewed hv the coiisiiinine; centres as a stcji towards stability. Ifeeent dismissions :i|! point in one d irect 101 l —-1 he need hi: fuller statistics of production and eon sumption ot Wool as a means ol inioitemp operators in the world markets of the course of trade in wool. An adequate service of this kind involves international co-operation. and it is a moot point whether any scheme could he carried throupli on an in tenia i iona I basis without some form of compulsory return in tie .dillereiit countries. Stocks of wool on hand, for example are an important item o! iiilormat ini’ lor dealers and prneessinp lirtef, hut it is dike nil jo behove lliai a purely voluntary rei urn under this head would ;rive to the market at. pre-ent any adef.uate informal ion.” In a matter ol this character a lead from some one eomiiry is generally billowed by others. I I would he an excellent thin;; il Xew /oaland could take the initial step. Il should not he a difficult matter for the Government Statistician to secure the desired in forma Lion. II would hi- uveossarv to lix n dale upon which H'c returns st-.oulil lie complet'd, say lor Xew /cal.md. .Inly .‘ll. Tile quantity of yrra-v and scouted wool in brokers’ stores, wool in 1 1 ie possession ol fellmonpers, scourers. freer,inp companies, farmers and woollen companies, and il may he desirable also obtain the quantity of piece poods in the hands of wholesalers and retailers and tailors. It is l 1,. - piece ponds end of the trade that has i-au-ed the picnics! ilisturhance. However, when all the factors are taken into consideration it is linaiiee that was responsihlc for the drop In wool values. The aseendinp prices of the raw material forced up those ol

the 1 1 iti•-! n-<l | >r<>• 1 1 il l<. earning ihoj p! i. c- to !i liovoiti! tin- imnha-ing I tow or of tlio masse-. and it. G tin' j Li-iti!«■ ill tlio iiiii sses u hit'll keeps tho j industry actiye mill not tin- purchases j ol the lich minority. The most effec-

tive wtiy of stiiniihil lilt; t he trade is by r :*i Imi li-t; prices so f lint it 11 increased mint he i' of people may l.ernnie customers.