The Dominion. MONDAY, OCTOBER 4, 1909. THE WOOL SALES,

Dominion, Volume 3, Issue 626, 4 October 1909, Page 6

The Dominion. MONDAY, OCTOBER 4, 1909. THE WOOL SALES,

.' The London wool sales closed on Friday last, and,all cablo advices agree that the prices.realised at the close were from 10 to 15 per cent.'higher than the closing rates of the previous sales. It is satis-, factory to know that all grades of wool ; participated, in the upward movement. Out'of a total of 88,000 bales, 56,000 bales were taken for Home consumption, 32,000 bales for the Continent, COOO bales; for America, and 4000 bales are held over, or. expressed in another way Yorkshire. buyors secured 57 per cent, of the total offering, the Continent, 33 per cent., America 6 per,cent, and 4 per cent, was'carried over./ The market is now practically clear of wool'and is ready for the new clip which promises to bo a big one..-'.-At the December sales a'considerable quantity of Australian wool will in all probability 'be catalogued, and it. remains tp be. .seen whether tho merino grades' will maintain their values. From mail advices .'it is 'believed, that manufacturers hid : . b.ver-Bold and in consequence were; forced 'into the.; market I which may account for thehigh prices paid' for merino, wool. Crossbreds, although they have had' a substantial. advanco ;at tho sales r are still' very cheap; as compared'.with.'the' prices, ruling; in 1906 and, 1907, and they have therefore a promising future. -. : will; now attach' to: the now, clip. . Shearing : in Australia is practice ally, complete, and ■in Now Zealand it swing in tho cdurso'of a week or so provided tho'wcathei is favourable. The' desire of wool-growers |'will,' : no.:doubt, be' to secure -the current prices, get their wool, on to the kot as soon , as: possible, so as..to. escapo' the reaction' in values that some expect will follow. 'Under such circumstances it is reasonable, .to., suppose that. the local will ..this .season deceive very;.generous support. Australian growers have Warned;.to''/.appreciatei their local, sales and_ at Sydney to-morrow, - when the deiorrod opaning .salo -will''begin;', it ! .is 'estimated'that tho'Value'of 'a" mil-. , lion:|)ter , ling n wjir 7 bo .Submitted!to": tion..: There; is a, : belief'that, the New'Zoa-. land <Bales ywill. bo more h'6'irtily BUpported/'and.the,. Wellington,..woolbrokers : are expecting to handle.larger catalogues-■thah-in'ariy :prcv'ip.us. season.;'"; The'Syd-ndy-sales, will give', an idea as to what may ; : bfl.;anticipated at' the'- local sales—, if'-the- Sydnoy.priccs are good,, and we think they will be, theri.it would probably h'o ; wis3 : .of .'growo'rß. to get the 'high localpneo3.'rather .than 'run the risks of,'the later sales : in London. '-, ■ ... ,'' ' '".

:.Wopl v io 'this year a remarkably good aE ??K'^^.■!* : -M' the principal, asset- of Australasia;', In :i7BB Australia possessed' np;.sheep. "In 1834- the total exports of w.ool; from the, Commonwealth' had only reached a.total.of 34,000 bales! - The clip of .the present season will amount to not less 'than, ; 2,006,000; bales, tho'.valu6 of: w^hioh : will :ccrtainly ; : exceed £30,000,000. Great.:■. differences-, of opinion -.obtain among experts as ,to how much further the -prosperity of • the .-Australian sheep' and wool industry can be carried' : In 1892 ,when'.the'number of Eheep depastured had for the first time Then to more than 100.00b.000, one official statistician expressed ,tho ; opinion that.' 170,000,000 could be carried, but twb years later the great drought commenced,; and by the time .it ended moro than 60,000,000 sheep had been destroyed.: It.now scemsprobablo ■: when the sheep census is taken at.the. end, of the year, the number of sheep depastured in the Commonwealth will once more exceed 100,000,000; and I the .breed of ihe sheep hasten so much i improved einco. this number,W-first reached m 1892 that the exports of wool 7-nwff thoS ° of:that year by about 400,000-bales. Smce' the year • 1861 the wool exported; from Australia.' has. been worth.£7oo 000,000,. and hasexcecdedthov value of; gold,; silver, copper aS tin oxported during that period