THE Wairarapa Age MORNING DALLY. TUESDAY, DECEMBER 29, 1908. THE PRICE OF WOOL.

Wairarapa Age, Volume XXXI, Issue 3080, 29 December 1908, Page 4

THE Wairarapa Age MORNING DALLY. TUESDAY, DECEMBER 29, 1908. THE PRICE OF WOOL.

The price of wool is a matter of absorbing interest to the Dominion generally, for it is not going too far to say that upon that price hangs either prosperity depression for New Zealand. Witn the general growth of the country we shall, to 3ome extent, get beyond a position of dspendency upon the wool market for our prosperity, but as matters are at present the .state of the wool market is one of intense interest to all classes in the community. The general feeling appears to be that prices are going to substantially improve upon those which have been realised recently, and among those who voice such an opinion may be mentioned Mr Henry Vavasour, the well-known sheepbreeder of Marlborough. Mr Vavasour has just returned from a trip to England, and he declares "the wool market in going to recover —there is oo doubt about it," According to Mr

Vavasour the fall was the result at a i very strong attempt to "bear" the market on the part of the waoUen trade in England It was helped considerably by the fact that &one of the manufacturers, owing to the financial crisis in the States, offered «ny -competition ~&t the sales, ■whilst simultaneously there was a paucity of Continental buyers, owing to financial stringency in Europe also. The English woollen trade had everything in its favour to carry out "bearing''' tactic? successfully, but in spite of such an adverse combination, the market kept up to a fair value. Now that the Presidential election in America is over, and the feeling of insecurity has gone, wool buyers have confidence, and will speedily make their influence felt. The same applies with equal force to the Conti • nent. He anticipates, therefore, that the price of wool will reach this season to practically the same level as it dii in 1907. The statements about there being large stocks on hand secured during the lull in prices, are wo thout foundation. A'll the wool that has been bought during this last twelve months has gone straight into consumption.