THE WOOL SALE

Ashburton Guardian, Volume 54, Issue 92, 29 January 1934, Page 7

THE WOOL SALE

VALUE OF FRIDAY’S AUCTION. ESTIMATE OF OVER £550,000. (Special to the “Guardian.”) CHRISTCHURCH, This Day. The exact value of Friday’s wool sale will bo available when each firm has calculated the price per lb of each individual lot it sold—the weight having already been ascertained—and then the aggregate value of all the lots. With varying weights of bales and prices per lb, and the number of lots concerned, this is a matter requiring time. The various firms then supply the secretary of the Woolbrokers’ Association with their individual results, and he in turn calculates the gross value and the average values per lb and a bale of the whole of the wool sold at the sale. The staffs of the firms are now busy with these calculations, and it- will probably bo some clays before they will be completed ancl handed on to the secretary of the Woolbrokers’ Association to enable him to release a definite statement.

In the meantime it is pleasant to anticipate what these figures are likely to be, even if they are no better than a guess. Possibly some of the brokers have advanced their Calculations far enough to Enable them to give an approximate value. In one case the calculations have advanced sufficiently far to indicate that some shillings over £2O will be returned. Based on the official average of the first sale in Christchurch of 13.61 d per lb, and £lB 4s 10.995 d a bale, the advance in prices should give at least another £2 a bale, or £2O 4s lid. Every penny per lb represents on an average bale of 3301 b, about 27s 6d, but the wool is li<dTter this season. A,n all-round advance of lid per lb would represent £2 Is 3d a bale, bringing the average bale return to £2O 6s. It is the general opinion of brokers that this estimate will not be wide of the mark. At the first sale, as shown by the fieures published earlier in the month, 24 002 bales sold at the first sale realised £437,392, or 13.61 per lb. Approimately 26,700 bales were disposed of on' Friday, the passings including the cheaper priced coarse wools, so that , the increased price and the 2700 bales extra s°W should bun,, the gross value of near £oSO,OUD.