THE PRICE OF WOOL.

Gisborne Times, Volume XXVI, Issue 2089, 15 January 1908, Page 2

THE PRICE OF WOOL.

At. the time that wool "slumped ’ so badly, and Gisborne’s first serious effort- to hold a big wool sale was reduced to a farce, we expressed the opinion that prices would show an improvement before the season had advanced far. As a matter of lact, the improvement lias come sooner than we anticipated. At -the Christchurch sales last week there was a very marked advance on the former sale in that city. Concerning these the Lyttelton Times said -.—“ The disappointing prices realised at- the December sites had produced an uncomfortable feeling, and there were tlie usual pessimists ready to predict

that the market would go back to the low level of a decade age. But before half a dozen lots had been submitted yestorday it was seen that buyorshad recovered their confidence, and though pricos showed only a moderate advance the demand was so much keener that very small proportions of tho catalogues wero withdrawn,” Auckland .appears to have had a bad silo yesterday, but at Nnpim- there was a. marked, improvement, bidding being spirited and prices quite equal, and in kuiiio cases' above, those ruling in December. J ust now full details of tho sales where the deep at Homo was first, recorded are of special interest, and in to-day’s supplement our Loiulo i correspondent deals fully with the November sales in the British metropolis. lie points out that with manufacturers short of supplies there seemed littlo prospect- of wool permanently falling to any great extent, and results appear to have justified his conclusions. At the same time, it is noteworthy that this .authority tells us that in many quarters a penny drop was considered a good thing for the trade, as many had become alarmed at tho exceptional high prices formerly ruling. The contention, of course, is that once wool is for any reason, placed at a price where its additional cost cannot vory well be saddled upon the user, there is a danger of tho trade suffering through a restricted demand, as users would he forced; on to somo cheaper article. The general trend of things just now is to fix prices at something lower than -the vory high rates of last season, and at the same time to leave a margin quite satisfactory to growers.