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Wairarapa Age, Volume XXXI, Issue 9052, 30 March 1908, Page 4

A writer in the London "Times" says he cannot see why the prices of wool Have fallen so considerably, up to 40 per cent, in'fact. There is no wool in manufacturers' 'hands, and merchants have JeSs than usual, for during the high prices ofi last; year both were buying only for their immediate needs. Here we have then the anomaly of a bare market and cheap wool, owing, of course, to the extreme stringency of the money market, caused by the withdrawal of gold to America during the financial crisis. There is little or no wool in America, and al- ' though there are large stocks in hand many mills are, closed. Later on Americans must come into the market for their requirements/and that will raise prices, ; True, even crossbreds have fallen because the fashion has run to merino fabrics. But that does not warrant the slump at last sales. The advice given is that prices are likely, to recover later on. It is to be hoped this will prove true, for the fall which has taken place means, it is calculated, that one million pounds sterling will be docked off the spending power of New Zealand if prices continue as at present.