RECORD WOOL PRICE

Press, Volume LXXXIV, Issue 25679, 16 December 1948, Page 6

RECORD WOOL PRICE

First Christchurch Sale

SPIRITED BIDDING BY MANY BUYERS

North Canterbury sheep farmers yesterday were well rewarded for their work, as the first main wool sale in Christchurch, held in the Civic Theatre, brought a new record price for New Zealand wool. 81d compared with 66d at the last main Dunedin sale, and prices generally for all wools were high and unaffected by the altered exchange rate. Woolbuyers are often believed to be temperamental—and they certainly demand a high standard from the auctioneers—but yesterday if any were over-enthusiastic in their bidding they could not be blamed, for there was rapid-fire bidding throughout the day. With local mills, the Continent, and American representatives all seeking the choice lots, there were some. rapid rises in bidding, and some high-pitched bids to attract the auctioneer. Local mills generally got what they wanted, but they had to pay a high price for it-- , x . There was considerable speculation about the Russian wool expert, Mr S. Tscherbakov, who has refused interviews since he arrived in New Zealand, and who is said not to speak English. He sat among the full bench of buyers throughout the day, but at no time did he bid for anything. However, his knowledge of English did not appear to be as scanty as has been stated by officials in Wellington, as on many occasions he was seep to note down prices in his catalogues. It was reported that wool was being bought for Russia through agents, and brokers thought that Russia might have been a strong competitor for the fine wools sought by local mills. Until shipping orders are received, brokers do not know exactly what country has bought the wool. There was always an interested audience in the theatre. Some were merely spectators who had gone out of curiosity or for amusement, and one considered that it was “better than the movies,” but others were the farmers whose wool was being sold, and they had every reason to be happy with most of the results. Of more than 30,100 bales offered for sale only a fraction was passed.