HIGH PRICES FOR WOOL.

Taihape Daily Times, 4 September 1919, Page 5

HIGH PRICES FOR WOOL.

Wool is realising‘ exceptionally high prices in London. As-tall: a figure as _4old gper lb has been paid ,_tcSr l«'01‘V select lines, and ‘-the average may be". stated as from 28d to 306. 'l‘his'does not, however; mean that the Imperial Government, in now releasing eomnlandecred wool, are making eiiorilious pi-0-; fits. It may appear so t,oj"outsi_ders.! Persons who are in the trade, and“ presumably growers also, will understand the true. position, and for thel benefit of those who know only what‘ they read we (Dunedin Star) may in‘ a. few words outline what the true} position is. The New Zealand woolsl now in the auctions are for the most} part those that were shcrn as far! back as 1916 land 1917, and held herel in store because there was no possi-'. bility of shipping them to England’; Charges on these wools have conse—] quently aceumula.ted——storage charges,i insurance, and interest (the latter ai big consideration these days)—and on‘ top of these there were very high! freight charges. With all these Qiled-E up expenses, to say nothing of inci-! dentals thewool would have _to bring; high prices to avoid loss. Then there; is the further factor that the Home: manufacturers have been out of wool,] and, being eager to» start agaimvtlieygr are practically compelled to buy any-‘ii thing at any price. Their would be quite different position if they had! been able to carry on, even at duced pace, during was time. The eir—; cumstanees show that the market is; at present abnormal, and. though pro-2 Dh(‘.~‘}'illg‘iS unwise, the gl'OWC*l',< lllflg’! count themselves very fortunate ifi prices continue on the now existing; level. i