THE SQUATTERS' LUCK

Maoriland Worker, Volume 14, Issue 3, 23 January 1924, Page 1

THE SQUATTERS' LUCK

They Wallow in German Gdd

We reprint this from .the Napier " Daily Telegraph," 10/1/24, ' without comment. It appeared in heavy type as a double-column introductory to a report of the last Napier wool sales:— ".The excellent wool prices realised at the December wool sales in Napier put heart into every grower of wool in the district. "So much was this the case that there was almost a riot when the ' farmers sought* to have their clips included in the sales now being held—they wanted to get in on the market while the going was -good; and were threatened .with exclusion byjlie wise limitation "of offerings. But nobody • anticipated the sensational increase which became apparent a few moments after the 'sales opened yesterday. Whereas the December prices were looked upon as extreme, yesterday's jumped a full rise of 2d. per pound, and the chief operators could not get enough to satisfy themselves or their principals. The hews Was -almost unbelievable, but none the less true. The causes for the sensational rise were the Avild operations of buyers REPRESENTING t)UR FORMER ENEMIES; they prae- - tic ally pushed Bradford out of the market, so elastic were their, limits. Germany, well seconded and strongly supported by the Balkan nations, so-long without wool, were out to buy—and to buy at any price—and-they did it. Bradford hadPplaced large commissions,- and allowed'a good, margin for an.anticipated rise, but such appraisements Avere never dreamed of, and Bradford- representatives found themselves onlookers hi the grim fight for wool, the Continental buyers being almost without limits. This actually was the case in lambs wool.; Occasionally the buyers for the Home market managed to get in a quiet bid with success, but, speaking generally, Bradford was not operating—THE FINANCIAL STRAIN WAS TOO GREAT; A total of 32,760 bales were catalogued, and very little, if any, was passed in. It is estimated that the sales will net over £050,000, and the increase in prices, 2d. per-pound, will put over £100,000 adidtional money into the pockets of the producers of wool in Hawke's Bay and the East Coast.