THE Wairarapa Age MORNING DAILY. THURSDAY, NOVEMBER 23, 1911. THE WOOL MARKET.

Wairarapa Age, Volume XXXII, Issue 10485, 23 November 1911, Page 4

THE Wairarapa Age MORNING DAILY. THURSDAY, NOVEMBER 23, 1911. THE WOOL MARKET.

Although politics are 'occupying a good deal of pubOic attention in New Zealand) just now,, .there are other matters which are of absorbing interest to the general comammity, and M J hich have a more direct influence ujpon the welfare of the people than nil' tbe fegislatioin that can. be passed iau a decade. Sir Joseph Wiard, in Ms l playful) way, hasi taken to himself some of the credit for the high prices which, hiave ruled .for produce during tihie last few years. If he could.give a<n undertaking (that the prices for wool, emd frozen meat, and dairy produce will' be maintained this year to the standard of tine last five or tern years, he would be deserving of a few more letters behind) Ms already "■alphabeta" name. When it is remembered that a drop of a penny per pound in wool ailone means, a losis of a million pouinds im the spending power of the people, it will be readily seen how important it is that the markets should be maintained. At the present time the outlook for wool isi by 1110 means promising. The opening sales in New Zealand were devoid of animation, and the drop iu prices represented in cases twopence per pound. 'Hie hope isi entertained that the demand from foreign, markets.. and. -tfhc restoration of the indiustrial' equilibrium at Home, will result in a ]!evelling-up of prices and a strengthening of the market. Referring to the opening of the fifth series' of colonial' sales at Bradford, the correspondent of "Dalgety'oa Review" says :—All the trade cam© together looking for lower prices., and before the initial sale, wasi through it was piliiin t<o be seen that the wool was Ibeing disposed of at a cheaper

rate than ia July. The . tibris series .are naturally what miscellaneous air <* a 60nHV but for the "salting aJld flo gl :e by "now c <J <° f f^ <\ 'i,„,i ifi,,, •' f #" wools ii'om Queen fJaud the *; • .... „™. 4tte-n.uos would have been uuy sot . ... tJiK-v iaro in X SW indeed. As it' j.s, • \ * Slo' *° hoa-st about, but • . I 1 series buyers' have to ith m- for final merinos. With • i ibcin,g «'o much, wool now sold . -Anistralia, London at 1 times, is /S:-ir*e\\hat deficient in its offerings!, i 'lout .selling [brokers put "before tho i»roi;in as- a nifea fair selection! which aicver fails- to elicit good competi- ., lion, though (prices' at' times are a 1 little wanting. 'Hie last two September ferae si have ibeen hot times, and many thought' that' we should witness another squeeze. I moist say that X couOd aiever see that, for the simple a v ea«on that European! markets have been callled-. iipon thisi year tb consume the deficient takings of America, and when the absorptive power of machinery is> taxed to it* utmost it is no Jiight task to get 'ijheni to swallow an extra meal amounting to from 80 to.; 100,000 hales. 'Many people forget one important fact, namely, that combs, spindllies, and loom® cannot get through any more than they can, and it should, be borne in mind that spinning frames never work overtime, spindles (being minded by yoxing females;, and our factory laws are- 'emphatic in prohibiting girls.and women; from working any more than ord'iinary time. Man labour cannot he iiised in spinning rooms, at a! except a,s managers' or. ffcirenieai, oonsequesn tly the .oiitput of yam® o<an never he augmented teyen 5 per dent, unfcisst new spinning frame® are installed. . In very xniany oases this has been* done during itlie past year, and it is significant that increasing difficulty is met with in obtaining hand* to imimd the maelian'esi, so much, so that in many cases spinning frames have never ran because foaiklsi cannot he got." Continuing, the correspondlent says:— "No doubt the political [complications of tlie past month, togetlreir with strikes and lock-outs, have a<l played a part in crippling , enterprise and shaking confidence, and until 1 there is a restoration of these important factory both wool and textiles are hound to suffer. Some- talk of overseas markets heing heavily leaded with fabrics., and no doubt the Far East, asi we! as South

America,. are ,a little congested. Canada is a valuable market for Britishmade woollens mid' worsteds', but with t'he faikire of the Laurieo* Government at the 'elections thetre •is ifree talk about duties on Britiahmade textiles being raised, in wJiioh case iit waSl tend ifco limit their sale. Without ibeing realHy optimistic respecting ia booming trade b&iaig don/e during the next tfew mum ths|, I cannot isee 'any reason' for a. slump. AH the) same it Hooks as if a (bigger effort ■wiHi have to Jbe made to 'beep tlie .m&dhitnery maiming, aaid Ido not think there is (tie ll'ea st .siiign of higher. vailiues for the raw material."