A CHANGE IN THE WOOL SALES.

Auckland Star, Volume XXXI, Issue 198, 21 August 1900, Page 2

A CHANGE IN THE WOOL SALES.

The Colonial Wool Importers' Association, the body 'of gentlemen who control the wool sales in London, have taken a step which is meeting- with considerable criticism from merchants and brokers in the trade. In consequence of vthe continued depression in manufacturing centres, and with a view to-giving European markets an opportunity to recover, the C.W.I.A. has resolved that there shall only be five series of sales this year, and that the fifth and final sale shall open on October.9th with a limit of 250,000 bales. Moreover the last week of the present series is to be cut out. The Association ukase does not meet the

views of everybody, but- the wisdom of their move must be judged by results. It is a fact that since the Association's decision was made known the tone in the wool market has been perceptibly firmer. I have my doubts, however, whether the Association can effect any improvement in the price of wool whatever action, they may take. It is a question of supply and demand. Restrict the supply and you can raise the prices for a time. Sooner or later, however, the stocks held back must come on the market, and cause of a depression in values which will more than set off the gains of the first move; that is unless something occurs to greatly limit the production of wool in the chief producing countries.