The Star. Delivered every evening by 5 o'clock in Hawera, Manaia, Normanby, Okaiawa, Eltham, Mangatoki, Kaponga, Awatuna, Opunake, Otakeho, Manutahi, Alton, Hurleyville, Patea, and Waverley. THURSDAY, OCTOBER 15, 1914. THE PRICE OF WOOL.

Hawera & Normanby Star, Volume LXVIII, Issue LXVIII, 15 October 1914, Page 4

The Star. Delivered every evening by 5 o'clock in Hawera, Manaia, Normanby, Okaiawa, Eltham, Mangatoki, Kaponga, Awatuna, Opunake, Otakeho, Manutahi, Alton, Hurleyville, Patea, and Waverley. THURSDAY, OCTOBER 15, 1914. THE PRICE OF WOOL.

For gloomy anticipations with respect to U'-arkets lor New Zealand ana Australian wools there were (says an Australian writer) two main grounds ; namely, the certainty that French, German, and Belgian factories would be closed, and the possibility that German cruisers would be able to hinder transport from Australia to Great Britain. The first sate® after the declaration of war were held under the influence of panic, the next were affected by an equally unreasonable reaction, and by the prospect of very large Government orders. Neither could be taken io indicate the rate which might be regaickd as normal as long as the markei is controlled by the "war and its conditions. Hence the recent sales in London were followed with the keenest interest, and their results have been welcomed, with a sense of great relief. In crpssbreds there has been a substantial advance, while in merinos there has been a fall of 10

per cent, from the, prices realised in July—in other words, from' the high prices of last year. Of the two items it is the fall of. 10 per cent, on which the Australian growers have most reason for special interest, for when they remember the consequences of the financial crisis of 1907-8, and.the fall, of 10 per cent, with which the season opened in 1911-12, they must be astonished that a declaration of war has made so small a difference. Time, crossbred wool is only of secondary importance to them, and very likely they cannot make up their losses, such as they are, from the varieties which have increased in price. But the profit reaped by New Zealand and Tasmania will benefit them indirectly. Wool-buyers who bought to sell again will be in a position far stronger than they expected. Their operations at the sales which are to be held in Australia will inevitably be more favorable to growers than they would have been after bad losses in London. Buyers' and shippers alike have been saved from an imminent disaster, and will, look to the future with lighter hearts, and with resources unimpaired in consequence. This is the view which is taken in Australia. In New Zealand, which' is an extensive exporter of the coarser wools, which have so satisfactorily .risen in price; there is'; justification for warmer feelings on the subject. Still it is true, that (as observed by the Otago Daily /Times) "an extensive catalogue Vas not submitted, and this may have contributed to the advance in the price of crossbred wool; but the> demand for the commodity arising out of the; fact that provision has to be made for a.winter cam-, paign on.the part of millions of men, has doubtless been the main factor in the establishment of values at high level and, though it would possibly be imprudent to suppose that this level will be maintained throughout the season, there seems to be no reason to suppose that the price for the coarser fleeces will not be at any rate of a satisfactory character. ■ At anyrate, the reports respec fcing the results of the sales are /of considerable importance to the dominion, for they suggest the likelihood that wool, the principal export from New Zealand, will, in common with our other staple products, suck as meat, butter, and cheese, be profitably.disposed of and that, as £ consequence, this country will .enjoy'the benefit of an export trade pf;.; an exceptional Amount in. value, in:;. the season upon W&fch'/we are entering." ' , : ' • '■:y~;ii*/. "'•' ' ' <