COLONIAL WOOL SALES.
Among the commercial news telegraphed j out a few days sgo was a warningamusing in it s mock solemnity—ad (dressed to all and singular, the wool growers of the cronies, as to the impol'cyof selling their clips anywhere except in London. But we fancy that it will take a good many snch warnings to effect what those who tender such gratuitous advice desire, the colonial woolgrowers being perfectly well aware that the anxiety of his would-be friends is very much more on their own than on his behalf, they like a certain Demetrius, of a couple of thousand years ago, raising the cry of " Great is Diana," simply because their craft is in danger. The fact is that the colonial wool sales have been a great success, and there is every indication that the great bulk of the clip of Australasia will be sold on this side of the ocean. Some very interesting facts in connection with this subject are brought' together in the Annual Keview of the wool trade for the 'season 1889 90 just issued by Messrs Goldsborough, Mort, and Co., Limited. After referring, with satisfaction, to the improvement in values wh rca the year haa witnessed, the writers turn with equal gratification to the statistics embodying the business of the colouial wool markets. They say :—" Of the marvellous strides made in recent years, and the swift progress of our looal markets toward the foremost position, the following figures afford evidence that should convinco the most incredulous, and bear incontrovertible witness cf the rapidy widening circle of appreciation for colonial sales. We append the figures of lOyears ago and the last three seasons: —
Quantities Sold in Colonies. 18801, 197,000 bales. 1887-8, 372,948 bales. 1888-9, 456,961 bales. 1889-90, 568,170 bales.
" Thus the large percentage of increase displayed in 1888 was fally maintained in 1889, and the total now exceeds one-half the gross production of United Australia.
" This rapidity of progression is re markable, even in a country abounding in parallel illustrations, and is probably only surpassed by the history of, Australian wool production itself. Nor are the reasons far to seek. The advantages which would accrue to the Ausfralain community in general, and woolgrowers in particular, by the passage of the whole clip through their own markets arc incontestable, and as the conditions that originally necessitated shipping are replaced by facilities for local sale fully'as appreciable, there is no .reason why this position should not be readily attained. In the early years of production, and the absence of local means, shipment to an existing market was imperative ; but this necessity disr appeared with the establishment of our own markets, whioh have .always attracted influential buyers, and which now possess every requisite condition for the conduct of the whole trade, and with the establishm nt of swift ocean transit, winch enables purchases for as short a , future as in the periodical London sales.
"To a large majority of buyers the advantages are equally palpable. Obviously, to Continental and American manufacturers tho saving in direct transit is considerable, and creates & valuable preftrence for colonial markets, in the ability (o give higher relative prices, which must prove mutually beneficial. The large yearly increase of Continental competition, and the recent secessions of influential buyers from tho London market, which have formed, the subject of press comments, mark this appreciation, and statistics prove that whereas in 1889 colonial purchases on Continental account were in excess of those for 1888 by 71,000 bales, purchases in London during this period decreased 33.000 bales. From the home trade competition is equally vigorous, and as regularly progressive, each year witnessi sing a wider availment of colon'al supply. To the subordinate position already filled by the London market during the season of the year from October to March must be ascribed the vexatious fluctuations which the November and Jouuary sales constantly experienca. during this period a far greater volume of wool passes through colonial than London sales, which suffer from tho varying and insufficient competition of a market practically Bupplied from another source. The growth of the trade amply demonstrates the general satisfaction afforded by colonial sales, and the whole result may be recognieed as the invariable coqjse of progressive industries, the Interests of which appear ever best fostered by the maintenance of markets for raw material at the source of production," To this we may add that the troth of these remarks is amply borne out by our local experience, t^e prices obtained b v growers at the Ashburton sales being fully equal to, if not better than, would have been" the nett result of selling in London, Melbourne, Sydney, pr even so near home as Christcburch.
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COLONIAL WOOL SALES., Ashburton Guardian, Volume XII, Issue 2393, 5 April 1890
COLONIAL WOOL SALES. Ashburton Guardian, Volume XII, Issue 2393, 5 April 1890
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