The Dominion. WEDNESDAY, FEBRUARY, 23, 1910. WOOL, SALES AND WOOL STORES.

Dominion, Volume 3, Issue 749, 23 February 1910, Page 4

The Dominion. WEDNESDAY, FEBRUARY, 23, 1910. WOOL, SALES AND WOOL STORES.

The increased quantity of • - wool marketed at the Wellington wool sales in- the season .1908-9 and again this season has forced upon-the local woolbrokers tho desirableness, if not the necessity, of providing more accommodation. The present season .has been got through with practically no, trouble, sufficient' accommo-; dation has been provided by making use of the P shed of the Harbour Board and the King's Wharf store. It is obvious, however, that if ' the I sales; expand . further ■ storage will i be needed, and it: is this matter that .. woolbrokers haveto: face, iho matter, however, is'not,quite J such a > simple affair' as.; it /might' seem. The /woolbrokers must view it as. a- business proposition, and '■• so far as Wellington is: concerned there are peculiar difficulties - that must bo grappled with. Any additional' storage . that may be provided; will be required for wool alone, 1 and that means that only for about, two months of the year , will the additional space be required. There is enough storage to meet the' presentdemands, arid;to erect buildings to the anticipated requirements of the will in the'aggregate cost a Jaigo sum of ; mcney. .' The interest oh this increased 1 expenditure' : must be earned-in .the two or'three months that the buildings are used, and: they will not be -used unless' moro wool is marketed- locally. ' Wo ; have! no grain trade .to help out thobrokers \ everything depends on wool.- -Thol matter, .therefore, becomes more or less of a .'speculation ; part ,of the' woolbrokers. .. . t iThe situation,is -to a.-very .large' extent dependent upon. "the.' ■ wool-growers.';-They' can,: by. ''supporting the local sales and by increasing the' size of the catalogues, eliminate the; speculative element. ■ Tho question is: Will growers do this? There is much to. be- said in favour' of the local.sales.. The trend throughout. Australasians . to- sell -locally, and that this is. being recognised by manufacturers is evidenced by tho , number of-representatives' of English, -Continental;, and/Ameri.can houses who .have attended the • Wellington wool sales.. . In the past the support accorded, the local : sales has been .erratic, as tho following .figures, furnished us; by: the . New Zealand Loan and Mercantile 'Agency, will show. . The catalogues ;for , the past eighteen seasons were as under:—

Season.-.Bales. Season. ■': . - Bales. 3 > 72 ® 1s»01-2 5,101 2,311-190 M ............ 8.638 2'rf • ISO3 - i —-——.10,734 ■JS® >725 1904-5 19,487 13,932 ,1905-6 „ 23 713 —11,S8i .1904-7 20,101 Jonn'n 'MM''i 1907-8 20 075 1899-0 ............ 18,182 1908-9 4f;ilS 1900-1 , 6,989 ,1909-10 59,017, The figures .for ,1903-10 are- estimated, as the 1 March sale has still to be held.- There has been a remarkable growth this season' and ■last season, and, all things' considered, the brokers ;have responded' handsomely to the* demands made upon them. ■ They are cncouraged in the. belief. that next season, will see. a further expansion in the quanof . wool offered here, and acting on that belief j ; several firms have in contemplation the provision of ■ more accommodation, some: of wh'ich will be ready "next season. The ' many advantages of selling locally have been repeatedly, urged upon growers, and it is interesting 'to note that in the season 1908-9 no fewer, than 228,856 bales were offered at the wool sales held in - various parts of New. Zealand. When the currents season .ends wo anticipate that the aggregate will approximate to 260,000 bales, which, at an average : of £13 per ■■ bale,'. means £3,380,000, and if we include the private sales, the total, income wilKbe. not less ■ than £3,500,000. ■ There is no, waiting for this money'; it is ready cash, and;, becomes available ' for expenditure on farm improvements at a time when weather conditions: are favourable.' The buyers who visit New . Zealand , and spend this large sum in the purchase of wool are entitled to some consideration, and in this respect the question- of reserve prices calls for attention. ■ Some growers very wisely i .allow the selling brokers to value, I and it is doing, the brokers the barest justice to say'that the valuing is done fairly, and conscientiously, and "with full respect to the'seller's interest. ■' ■ Many '' growers, however, fix reserve prices which in sonje cases are absurdly high. If the, reserve is not reached at the sale then, they are disposed to accept the price at which the wool was passed in. Experience shows that passed-in wool, even large clips, seldom, if ever', realises the passed-in price. The buyer has time to reflect j whereas at tho sale he has been influenced by the excitement of the 'moment, and perhaps offered something more than ' he intended. Growers, who ship wool on advances have little hope of •fbcipg reserves, and there, is really little excuse for doing so*. Another point is that the number of, sales' in the Dominion niust be reduced! This is a matter entirely for the buyers. If they choose to race from one end of the country to the other, they will be given every encouragement to do so, but in the interest of the grow-

ers, fewer selling centres are desirable. The more time the buyers have for examining and valuing the wool the better the chances of sale. We need not refer to the advantage of careful wool-classing,-for it must be obvious to all growers that wellclassed wool makes better money than the other sort. ■