THE WOOL SALES

Hokitika Guardian, 28 November 1930, Page 3

THE WOOL SALES

WHAT SEDDON WOULD HAVE DONE. AUCKLAND, November 25. Writing to the Herald Regarding the wool sale, an 5 correspondent says:—“l believe that if Richard John Seddon had been of this country'he would \voitld haver-put a buyer, in the wool sale to-day and ordered him to buy all the Ueece wool .at a figure, possibly Bd. Then we would have seen whether Bradford and the Continent were done at 4d or sd. 11 they were, the Government would have got the clip, and many farmers -would been assured of a little from the wreck. Then the Government would have been iitrthe- position of; some dealing finirt; which-.bought' largely on the expectation of fi rising market. But there is not a- Richard John Seddon —the man who put the country’s credit behind a. bank on a less serious national occasion, and saved thousands from financial catastrophe.”

“COMING BACK TO NORMAL.”

It .is estimated that the average price realised for all wool sold to-day was 4£d. Only three seasons ago, at the corresponding soles, and from the same platform, the lot offered found a group of buyers on their feet, frantically yelling bids of “Seventeen, seventeen, seventeen.’’ A lot of water- lias passed under 'the . bridge since that record season for the Auckland woolgrowefs, when their total cheque at the end o!' the ♦season was over £l,o6o,ooo—one million useful pounds to he circulated among the shops and stores of Auckland city.

To the inquiry of a reporter the man-. ager of a leading pastoral firm smiled, though somewhat grimly, as pue who was “digging into a tough patch, and said: “Well, T’vp seen it worse than this, before —away *hack in 1901. We’ll get over this as we’ve got over other, troubles. We have been living in a. fool’s paradise with inflated values and false ideas. Now we are coining hack to normal. Land values are steadily being readjusted, and you will see that tilings will right themselves much quicker than many people expect.

The next Auckland sale will he held on January 17. when a limit of 25.000 bales as been imposed, and the third sale, without restriction, will be held on March 27. - Most of the buyers left to-nght for Wanganui w.here a sale will he held on Friday. The prompt date 'for the wool sold to-day will he December 9.