AT A WOOL SALE.

Dominion, Volume 1, Issue 45, 16 November 1907, Page 3

AT A WOOL SALE.

.■.V A SKETCH. The air of tho concert hall does not ring ■with the laughter of a soprano song—not by !a. jugful I ' it is- daylight—bright,, middaylight outside, but inside there is something between a half and throe-quarter light caused by the mingled pungency of pipes, cigarettes, and cigars, puffed by three rows of perspiring men, ranged on enlarged school desks, one row abovo tho other, facing a man on a high rostrum —a man full of talk, with an eagle"eye.." ' ■ ' This man is selling wool, or trying to, and the men behind the desks are buying wool— or trying to* • The auctioneer is as laconic as,the buyers, and the ..talk keeps on like a brook run-, ning over stones, which serve as a metaphor for bids. . . . ; "Lot 5!" announces the auctioneer. "Six!" "Huff!" "Three!" "Seven!" "Huff!" shriek the buyers, in varying tones and ways.. ."Seven and a half!" says the auctioneer, and, without hesitation, " I'assod. Myers!" ' This sounds a strango gibberish to the uninitiated—indeed, it is a mild sort of circus to the onlooker, which is why the gallery is always crowded with just the last type of person in tho world one would imagine would be interested in the price of wool. Lot 5, as above,, may be two or six bales of wool, .which'''the buyers have inspected, and of which they havo all : particulars. One buyer bids 6d. per 1b.,. and the gentleman who grunts "miff," means a half, or 6Jd. ." Three" means jd., or 6-} d., and so on until the wool is sold or passed in, according to tho auctioneer's instructions. Off they go again, a good lino this time: — ■ !'.Lot 11!" "Eight," "Half!" "Three!" "iimepenco," says a voice with a Yorkshire accent, with great decision. "Oncl" (OJd.), "Hiiff!" "Half, half?" questions the auctioneer', but there is no further advance, "passed. Hill! , ; Old Mr. Hill sighs dis- ' tressfiilly—he is the whitehcaded man in the centre who says " Huff," not unlike a wild, boar tusking out a dcep-giwn root. The lot has been passed in ns being below the' reserve,.but Mr. Hill has the first call if the owner chooses to sell at the price.

:,Y.osterday's sale was a slump—in large letters. The sale was the deadest and

laziest' known for some years. There were many buyers, but few sales, and the reason: ....;. ■', "By Cablo. ■•• "London advises wool every pros- ... pect decline about 10 per cent. Re;A commend caution. Prospects look

■/decidedly unfavourable." This cablegram was received by a firm of Wellington wool-brokers yesterday. Apparently the other buyers had received similar advice. The cause of the slackening in demand is nt-trilnitcd to the stringency of the money market at Home, consequent on America's thirst for gold. . - .