WELLINGTON WOOL SALE.

Auckland Star, Volume LIV, Issue 47, 24 February 1923, Page 6

WELLINGTON WOOL SALE.

FAIX IN VALUES. VARIOUS CAUSES OPERATE. (By Telegraph.—Press Association.) WELLINGTON, this day. Broadly speaking it may be said that it the Wellington wool sale yesterday, fine wools dropped lid, medium wools, 2d, locks, r i*eee, helfie*, Jd to Jd per pound, as compared with January sal*. At the same time prices were on par with those ruling at Wanganni, and Napier. Buyers seemed to be pickii» their lots, and bought if prices suited them. Various explanations are forthcoming to account for the drop in values. The almost entire absence ol American competition was attributed to the probability that Americane hid filled requirements for the time being. At the January sale Americans set tie pace, and carried wools they required far beyonri London parity, giving an impetus to other wools. American representatives were doing very little yesterday, and the absence of their com: petition had a marked effect on values generally: that was one feature of tie sale. Local mills followed the American example, and bought sparingly. It_« also thought that the French occupation of the Ruhr Valley had some influence on the market, as neither France nor Germany is able to buy much wooL