WELLINGTON NEWS

Hokitika Guardian, 24 February 1928, Page 4

WELLINGTON NEWS

THE WOOL POSITION. (Special to “ Guardian WELLINGTON, Feb. 21. The increased demand for wool, as evidenced by the recent sales held in Wellington and Auckland followed by iniilar conditions in Sydney must be a source of gratification to growers generally and there is every appearance of prices remaining firm for the rest of the season. 'l'he fact that at Wellington alone some 27.000 bales acre offered, nearly the whole of which was cleared at a solid advance, will mean that something like threo-quai-ler-s of a million of money will find its way into the pockets of the producers in the Wellington district during the next fortnight. The sale was notable for the fact that there was an extremely large hench of hovers all eager to secure any suitable lines offering. These included representatives from England. Scotland. Belgium, Franco, Germany. Italy, United States. Russia. Japan and Australia. While New Zealand manufacturers were well represented and took their full share of the offerings. The Chairman of the Wellington Woolbrokers’ Association .Mr Anderson) averred without hesitation that it was the dearest, so far as his ■experience went, that had ever taken place in the Dominion. It was not the usual thing of some two or three buyers making the sale go. hut every section of the trade seemed anxious to secure any lots suitable to their requirements. At the Auckland sale, which finished to-day, over 20.000 hales were offered and a most satisfactory clearance was made, prices being well on a par with those ruling at Wellington. An important feature at both these sales was the fact that a considerable amount of lambs’ wool was offered, as is usual at this period of the rota, the hulk realising extreme values. On Thursday the Wanganui sale will follow with over 20,01)0 hales and Napier will have a catalogue of about 25,000 bales at the end of the month. During March there will he seven sales, three of which will he held in the -South Island. This means that the pnsloralixts will have reaped their harvest, by the end of March as the season officially closes on the 20th. It is now quite certain that they will lie able tn look back upon tlie season of 1027-2 S with more satisfaction than they have for many years. The great imnmvement in the demand for this textile should he an incentive to many of them to use every endeavour to still further improve their (locks and cater for the increasing demand for the hotter classes of wool. It is satisfactory to note that this increased demand is not likely to he spasmodic as new uses for wool are being found every day and foreign countries are now becoming good customers. Sydney cables announce that the sale hold there yesterday was an extremely good one. the price ot merinos being well sustained, while comebacks and crossbreds sold freely at extreme rates and greasy merino touched olid. A SATISFACTORY POSITION. . The monthly figures prepared by the Customs Department shows that there was a marvellous recovery in the value of the exports from the Dominion for January, they being more than double the amount of the imports. Ihe exports for that month were valued at C7OS."i. which forms a record for any previous single month, and the enhaineil value of wool as compared with last vea.r is responsible lor over a million sterling of the increase lor January. while the enhanced value ol the shipments of daily produce and frozen meat have also allected the position. |.asi mouth’s exports were valued at 22. ;(!5.215 over those of the same mouth of I!)2, and exceeded those ot I, v 22.553,-101. On the other band ii b satisfactory to note that the imparl s showed a decrease. being 2172. 1, H lower than last December. £211.010 less than for the preceding January and 2 W !)0.72!> less than in January 1021. I lie excess ol exports last month was C 3,830,005. or C 00,3-15 more than the total value of the imports. It is satisfactory to note that this position has been brought about ton great extent by the enhanced value of our exported products which wore both more extensive and of higher value. This should he an indication ol bettor times both for the pastoralist and the farmer generally.