TWELVE MONTHS' WOOL

Evening Post, Volume CVI, Issue 14, 17 July 1923, Page 6

TWELVE MONTHS' WOOL

In a report of the New Zealand wool trade for the twelve months ended 30th June, it is shown that there were 509,880 bales of wool offered for sale in the Dominion, and of these 457,547 were sold, the average price realised being 10.40 d per pound. At £16 10s lOd per bale this gives a return to growers of £7,568,589 19s -2d, less charges. It is evident, too, from the fact that there were 52,333 bales withdrawn from sale because the price offered was not in accordance with growers' ideas of value, that there was no selling under-severe pressure. ; The average of 10.40 d per pound is a long way below the Imperial Purchase average of Tsd, but it is a very satisfactory price, considering the distiivbed condition of the international -political atmosphere and its reflex on all commercial and ' manufacturing enterprise. For the Dominion the fact has to be recorded that wool buyerscame here to buy, and paid out in their . purchases over £7,500,000, which money has gone into circulation in'twelve months and has had its beneficial effects upon the local monetary situation, as the last bank returns showed plainly enough. The Dominion.is coming through the troubles that were common to most countries as the aftermath of war, and, by the way, the Prime Minister hinted this morning that by the end of 1924, when the moratorium on mortgages, came to an end, the situation would be more satisfactory than many had dared to hope. The moratorium on deposits ended last month, happily without ! any serious results. The country may not be exactly but of the wood, but it is beginning to see more light between the trunks and the branches, and its emergence- has been remarkably rapid, taking into account the difficulties with which, it has had to contend.