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COLONIAL WOOL SALES— A TRY ON.

Probably not a few of our readers, as well as ourselves, were amused the other day by the cable message from London, which found its way into all the Colonial papers, warning the Australian and New Zealand wool-grower of the clanger of trusting to the local sales. This wonderful anxiety for the' interests of the Australian flockmaster was a little too transparent, and will have precisely the opposite effect to that which was intended, by showing that it is the London merchants, who are disappointed of pickings in the shape of commission, etc., who are crying out for their own interests, ;and not from thepurephilanthi'opyby which they would have it supposed that they are actuated. It won't do. The whole thing is too thin. Writing on : the subject our Melbourne correspondent thus delivers himself:—."l suppose that most of us know what is meant by ' rigging' the market. If we don't,

J. assume that we have some acquaintance witH , the means occasionally employed to prooure a sudden rise, or a sudden fall, in stocks, Well, I have more than half a guess that some interested people in London have been trying on. that game with the. view to influence the forthcoming^ Melbourne wool sales. All of us 'who; take an interest and feel a pride in the rapidly growing importance of these sales knqw with.what disfavor they are regarded ml London. * It is a good many years since they were initiated by Messrs Goldsb,rough and Co., who,- for a long time continued the struggle single-handed;" then other firms fqlr lowed—thqugh the old hpusp still keeps the Jead—;and as time went on the volume of business grew, and grew, until we are within, measurable distance of the day when nearly all Australians grown wool will find buyers on.Aus^ tralian soil. This isl riot a .pleasing jjrospget to the,Sgreat!FQolbr{)}cers j n I^ondon. Ami, strangely enough, just as the squatters are beginning to thinly ab.out th?eir next clip,, tlje fallowing cable message is quietly dropped into the columns of the " Age " :—'London,; May 13th. It is expected that comparatively few European buyers wil) attend the next wool sales held in Australia. Experience has shown, it is alleged, that the^uyihg can be.done more advantageously in Londgn.' This argument is held to have been markedly illustrated by the result's of the ApriUMay series just closed, as compared with the.prices realised at the sales held in' Melbourne.- It is stated that the buyers at' the latter were; severely bitten, having in frequent instances suffered loss, equivalent to £4"per bale.' Jf this cablegram be intended to alarm wool-growers, and induce them lo consign the next clip to London, I" huvi: hu idea that, it will miss the mark aimed at. Australian wool js f a l-'irgc factor in European consumption, and ti! it i« not sent to London buyers, the buyers must come Pq seek it in Australia. Our wool

sales have Ij.ogo)));,! an institution too firmly established to bo uproQJ.rd by such a shallow device as this cable message tq t!"S' Age.' " As our roaders know, the message referred to w;is not restricted to the Melbourne " Age," b,ut a^is cabled to all the New Zealand papers, but it o\ersliot the niavk both there and Ji.ere, ami the would-be engineers of the discomfiture of colonial wool sales are plainly hoist with their own petard.

The immigration oi Jew* J4IO I'destine is steadily on the increase,' suuT'llie' moneyed men of Europe begin to take an intercut in the migration by buying up land and building up blocks of bouses, founding schools and hospitals. 1L is said of }Ihj Jcnyish population of l'akstine, that they are tolerant toward people of other faiths

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AG18900529.2.5.5

Bibliographic details

COLONIAL WOOL SALES— A TRY ON., Ashburton Guardian, Volume XII, Issue 2437, 29 May 1890

Word Count
618

COLONIAL WOOL SALES— A TRY ON. Ashburton Guardian, Volume XII, Issue 2437, 29 May 1890

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