WOOL PRICES.

Dominion, Volume 1, Issue 94, 14 January 1908, Page 2

WOOL PRICES.

; WILL THEY RISE OR FALL? ■', SAILING SHIPS BUSY. Though speculative people can be found who: will playfully-hazard, an opinion onj.-the.; question of wool prices at _ any time, is generally- agreed that at .the. present moment: tho wool outlook-.for the futureis decidedly uncertain. Consequently, if one may; offer a gentlo reminder-to men-who know-their own business, wo would quote what may bo called a wiso farmer's ■ rule:, ■" When in doubt, sell in: the nearest market at. current values." A sheep farmer dopendi -on tho health of his, flock, a variable .quantity; ho hopes for tho: best, through pestilence .ana. flood, and even fire;, ho ..is, sometimes..in danger—though less so- than the Australians -r-of-loss by drought; dry weather spoils .lus pastures and . his l rape reserves.;- labour, troubles may fall hoavily or lightly-;; wet. weather at shoaring-timo may hamper tho clip and. damage; the.wool;. and at tho best; ho ■ is handling a bulky ; and perishable, article. On , the.whole, with . such, a number of ' risks surrouittlwg mm 1 tho : wiso - farmer, will, " when m doubt, get out,'-- at tho.first, reasonable opportunity. 'lue troublo is-with tho man who really doubts whether he is actually: in doubt at all. • It is ■ truo prices havo bcon low, largely, because of . tho American monoy panic, 1 and that the panic, itself is over. Yet its effects remain,, and tho market will doubtless take a considerable timo to recover its .buoyancy.- The advico to withhold stocks has been given pretty generally for some time past, and hits- boon Fargoly acted on. There is apparently just as much likelihood of, the fall continuing,, from other causes, regardless of tho -recovery of tho money crisis, as there is of a rise; and prudence seems •to counsel parting with stocks at the first good, offer.. So long as a farmer does well, it is not'necessary that ho should at. a big hazard do a httlo better. -To have-got rid of.a ,big-anxiety is worth something. That thero are, however, some big, shrewd, wool men, who rely.on the market.reviving,--, is proved by'tbo fact that Mr. fi. H. Scaless fleet of sailing: ships for wool, carriage , this > year comprises five large vessels, capable-,or. holding a ittjtal of about 8000 balefe of . wool; and that among., the consignors are ; some, men of verj\ long experience. By putting their wool aboard sailing ships they hope: togain in- several directions, , : _ - ', 1.-—Thoy. will" save in , freight.. . Their freight is .seyen : sixteenths ■ of. - a ..'penny- per, pound .'net, as against' tho steamer freight, of nine-sixteenths, plus .10 per cent. ■ . 2.—They will/savo on storago, by, having, their wool for an extra six or Kcycu wccks on tho ocean.'• 3.—Thoy will, reach London for .the. limited May sales-instead of -getting in, with tho^un-v limited sales Of March, and thus give ,the; market additional time to improve; ~ .. . ..i,. ,:

. 4.—They will lose, however, in insurance. Tho rate per; steamer is. about 15s. per.cent. by sailer Detween. 30s. and 505.: Tho.-vessels of the fleet and. approximately , their times of departuro. are as follows %rr. Avon, now' ready ,to sail, from Wellington; Loch -Garni,", to sail next week, from Wellington; Dechmont, February, from Wellington ; Loch Trool, February, from Lyttolton; Concordia, March, from Tiniaru.' .-