THE PRICE OF WOOL.

Auckland Star, Volume XXXIX, Issue 129, 30 May 1908, Page 4

THE PRICE OF WOOL.

Indications that the flood-tide of prosperity has elibed from, tie hlgtwiter mark maintained. of. late, years .are not wanting in the South; and we far to look for a substantial there should be cause of complaint. Many of ; our. staple products have fallen much more in price than could, reasonably be anticipated. Specially has this been so in the. case of wool; and..to a. decline in the price of this commodity, amounting in some cases to as niuch as one-halfj is- to be attributed the greater part of the taib of an approacliing depression. It is,, tEerefore, grar tifying to note that there has been a marked, advance in wool at recent Bales. Our wool has appreciated as much as 20 per cent in foreign markets, and latest advices to-day .are that 40's are firm at. 10£ dat Bradford. Tile maintenance of the improved tone of the wool market is a very important matter .to the Dominion. Interesting evidence bearing on this point is to be obtained from the cables da the price of cotton received by a leading Auckland soft goods house. As recently as April 16 cotton was quoted at 5 5-16 d., with indications of a further fall; by May, 16' the price had risen to 6d.,. ahd on the l&th to 6 3-Bd. The latest cable gives the price on May 28 as 6Jd, with indications of a further rise. As "jd. may be regarded as a record price, and cotton is occasionally as low as 3jd., it will be seen that the present rate of 6|d. is a very high one. At first sight, it may not appear in what way this bears upon the price of wool. It is a fact, however, that cotton rises and falls witfi wool. The higher the price of the lat.-' ter, the more cotton is used to mix in what are generally sold in. "all wool" materials. The rapid advance and ,high price of cotton to-day may, in the abV sence of any knowledge of one of those rings so common in this particular market, be accepted as gratifying evidence that the advance in wool will be maintained for some time, and that there is quite a possibility of a further accre"lioif ii£ 'price. .