THE WOOL SALE.

Press, Volume XLIX, Issue 14563, 14 January 1913, Page 6

THE WOOL SALE.

Tho -wool salo held yesterday must be considered a most successful one. After tho decline in prices' shown at the 'Napier and "Wellington sales it was natural to expect that a similar if not greater reduction in values would bo manifest in Christchurch. It says much, however, for tho quality and useful character of tho Canterbury wools, and the buying strength represented, when prices not only showed no marked declino, but in the cases of the fine woots tho December rates were well maintained, Tho wool was heavier in grease than that offered last month, the later shearing having been carried out during much warmer weather. Tho buyers naturally made some allowance for the greater scouring loss, and if prices seemed easier it was largely through this fact. The American competition, which had cased off at the recent sales in tho North Island, was again not prominent. Tho probability is that the American manufacturers, having secured sufficient wool at the colonial and London sale 3to carry them'on, will now await the promised reduction in tho United States wool duties before again operating to any extent. The Continental buyers, as well as tho local woollen mills and wool-scourers, secured tho bulk of the wool, tho Bradford reI presentatives operating with considerable caution, and only secured any lots that came well within their limits. The proceeds of the salo will amount to nearly half a million, and the result of the sales hold so far in the Dominion indicate that this year's wool clip will exceed last year's in valuo by from one and a half to two million pounds. The benefit this will be to the general community will bo manifest at tho ipresent time, when the money market is somewhat stringent.