The Temuka Leader SATURDAY, SEPTEMBER 25, 1886. THE PRICE OF WOOL.

Temuka Leader, Issue 1561, 25 September 1886, Page 2

The Temuka Leader SATURDAY, SEPTEMBER 25, 1886. THE PRICE OF WOOL.

Ocb. great loadstar—that one- bright spot in our much overclouded commercial firmament—the rise in the price of wool, is made the subject of an article in the Otago Daily Times of Thursday last. The article points out the difficulty people in this country must experience in gauging the prices realised in the English markets from the telegrams which reach us. The article says:—

“ Sometimes the advance of a halfpenny is repeated with an interval of a few days he tween the publication of the hews, with the result that an interested reader concludes that wool has risen one penny, when it is really the same halfpenny repeated.” This certainly hai been the case for some time past. Telegrams have been flashed across the ocean one after the other, stating that a rise of twopence, and so on, has taken place, and people, no doubt, have been comforting themselves riitb the hope that wool has gone up enormously, while it is the same old twopence they all referred to. It is a pity that our system of communication with the markets should be so defective,

bat it is not tbs first lime people hare had reason to complain of it, nor is it likely to be the last. Baiter's agency is magnificently paid, but it appears lo bo very. inefficiently worked, io show tho variations in price of wool, the Times published the following table : 1879 ... 9|d 3880 ... 15|d and ll|d ISBI ... lid, lOjd, and B|d 1882 ... HI. Ud, and 10|d 1833 ... HH IOJd 1884 ... 10$d and 8d 1885 ... 9fd, BJd, and B*d ,1886 ’ ... 9|d and dd. This is said to be the price realised for the last seven years by a station c'ip of greasy wool, and the prices at the last Juue-July sales are given as follow : Greasy halfbred first Combing, Bd. Greasy merino first combing, 10|d, 9d, and lOd. Greasy merino clothing, 9d. Scoured wool at the same sales sold as follows : Seohtyd halfbred first combing, 14d. Scoured merino first combing, 17d and 18d. Scoured merino clothing, 16d and l7d. On the 9th of the present mouth our cablegrams informed us of another advance of 20 per cent in the price of merino, 15 per cent in the price of fine crossbreds, and 10 per cent in the price of coarser wools. On the 16th again we were informed that wool had advanced another halfpenny,, and this means, ,if the information is correct, that wool is higher by than it was in July, The price according to this ought to be now— Greasy halfbred first combing, 9|d. Greasy merino first combing, 12d, 10|d and ll|d. Greasy merino clothing, 10|d. Scoured halfbred first combing, 15Jd. ■Scoured merino first combing, 13|d and md. Scoured merino clothing, 17|d and 18Jd, That, in all probability, is the present state of the wool market, In dealing with this question sortie time ago we stated thit the rise in the price of wool meant that this colony would be the richer for it by half a million of money—that it would be equal to a loan of half a million’ on which we would have to pay no interest, and which we would never have to pay back. The Otago Daily Times has come to the same conclusion. Its says

“Looking back over tho post years and noting the figures, we reckon prices on September 16th to be a little better than in 1882, but only a very little, while they are certainly bettor than in 1884 and 1885 by some 10 per cent. The increase in the wealth of the Colony is easily estimated : the export of wool for the season of 1886 being 90,760,2531 b, an increase therefore of threehalfpence per lb means an increased clear profit to tho Colony of £504,750. We are that much better off if price* are only maintained. The estimated value of the wool export last year was £3,002,731.” To us, who realise the absolute necessity of increasing our exports so as to enable us to pay the foreign creditor, this news is very satisfactory, and no doubt it will be more so to persons more directly interested. Let him who may deride the producers of wool, tbe fact still remains that they are our chief exporters, and that until we put something in their place we cannot do without them. We want money to pay our liabilities to the English money-lender ; we have no means of getting it except through our exports (unless we borrow it), and consequently whatever article we can export profitably is of immense value to us. So far as wool is concerned things are looking brighter; the number of our sheep is increasing yearly, the prices our wool realises ranks it amongst the first class, and altogether tbe industry looks, healthy and promising.