WOOLLEN INDUSTRY.

Auckland Star, Volume LX, Issue 293, 11 December 1929, Page 4

WOOLLEN INDUSTRY.

NAPIER SALES TO-DAY.

TREND OF PRICES. WELLINGTON RATES RULE. (By Telegraph.—Press Association.) NAPIER, this day. The wool sale opened this morning before a full bench of buyers. The first catalogue opened quietly, Bradford and France being the chief operators, the former on fleece wools and the latter on pieces, necks and bellies. Passings were frequent at the commencement, but bidding became a little brisker as the sale advanced. At the conclusion of the first catalogue it appeared that prices for both fleece wools and pieces were on a virtual' par with those ruling at last week's sale in Wellington, which were down from Id to l%d on the last Napier sale. ADVICE TO GROWERS. MUST FACE NEW POSITION. DAYS OF HIGH PRICES GONE. In their latest wool circular, Winch/combe, Carson and Co., of Sydney, after referring to the recent improvement m values at Australian sales, review the position of the wool trade in the following terms:— "High retum3 would no doubt be welcome to Australia and other wool-growing countries, but the fact cannot be ignored that excessive prices for wool would give further stimulus to the use of artificial fibres. ,The high prices ruling for woo from 1923 onwards undoubtedly gave artificial eilk its great opportunity with feminine wear, and the manufacturers of it embraced their chance to capture trade. "Indications point to the production of artificial fibres having overtaken demand, and moderate wool prices will tend to check the consumption of them. They are now manufactured in almost every country 'under the sun.' Unlike wool they can be successfully produced anywhere. It is estimated that production in 1929 will reach 397,000,0001b, which is equal to at least twice that weight of greasy wool and consequently almost equals the quantity of wool grown in Australia annually. We do not wish to cause undue alarm regarding the use of the artificial product. It is not only competing with wool, but is also a serious rival for cotton. Plenty of scope for the use of wool still exists. But we must get down to 'tin tacks' and realise that the sheep's staple has a competitor. And that competitor has the advantage of being a factory product, the price of which does not vary much, while wool has »>f late years fluctuated tremendously. The clean cost of average Merino fleece wools is. now 60 per cent less than in November, 1924, and 35 per cent less than in 1927. More risk has, therefore, attached to the purchase of wool than of artificial fibre. If. the use of wool is to be encouraged its cost must keep moderate. We should realise that position, and jettison the idea that wool is an indispensable article which will be used extensively irrespective of what its price may be. "Room for some improvement in prices still exists without causing any hindrance to trade. We feel reasonably sure that sales will continue to be readily effected and hope to see values slightly appreciating as the season proceeds. But we consider that a return to extreme figures would in the long run prove the worst enemy of the sheepowner."

DOMINION SALES. OFFERED AND SOLD. Messrß| Dalgety and Co', report for the five months ended November 30 the quantities of wool offered and sold in New Zealand as follows:— Five months, Five months, 1929. 1928. Bales. Bales. Town. Offered. Soldi Offered. Sold. Dunedin .... 1,914 1,491 2,601 2,436 Timaru 576 474 738 434 Christchurch . 1,937 1,760 2,548 2,184 Blenheim ... 36 23 100 60 "Wellington ..10,164 9,287 10,275 9,740 Wanganul ...10,302 8,995 12,012 10,950 Napier 10,499 9,652 13,159 12,751 Auckland 18,377 16,488 23,266 23,071 Gisborne .... 14 14 702 509 53,819 48,184 65,401 62,135 Sales in November, 1929, were 39,378 bales out of a total offering of 43,466 bales. Exports of wool for the five months was 68,055 for this year, and 58,403 for the corresponding period of 1928. For last month exports totalled 20,235 bales. WORLD'S WOOL STOCKS. , According to the Bureau of Agricultural Economics (U.S.A.), production of wool in eight countries which have about seventenths of the world clip outside of Russia and ~-' China is now estimated at 2,317,000,0001b for the 1929-30 season, compared with the record clip of 2,326,000,0001b last season, and 2,208,000,0001b the season before last. Decreases have been reported from Australia, Argentina, the United Kingdom, France and Germany, and increases for New Zealand, the Union of South Africa and the United States. Stocks of wool at primary markets at the _ beginning of the season are not significant in comparison with production, but they appear to have been slightly larger this year than last. Production and stocks in primary markets appear, therefore, to give about the same supply situation for combing and clothing wools as existed last year. AMERICAN TARIFF CHANGES. (Received 1 p.m.) WASHINGTON, December 10. The Senate increased the duty on carbonised wool noils to 30 cents a lb. The present rate is 24 cents. The House reduced to 21 cents the duty on uncarbonised wool noils, fixed at 23 cents per lb.