CANTERBURY WOOL SALES

Nelson Evening Mail, Volume LIV, Issue LIV, 17 November 1920, Page 5

CANTERBURY WOOL SALES

drop in PRICES

(By Telegraph*—Special to Mail)

C&RISTXHUROH, Tim Ife. From the point of view of the value of exports from the Donumon thejuige increase in the value of dairy producers will help to counterbalance the hig drop in wool recorded at day’s sale, presuming that the rates for tlie latter remain as are .at present; but it seems inevitable that money will be tight for many months, and it is also certain that the government will have to tace a drop-in G toms revenue. The stocks of ers have piled up te such an extent that there has been a wholesale cancellation of overseas orders. One conoern is said to have cancelled ordersin cotton goods aggregateng Men in tlie motor trad© admit teat they expect a big falling off in the importation of cars. The rmportetmnof motor cars now contributes a good portion of the Customs revenue. One man showed documentary evidence of the duty paid by him pin several dozen motor cars. The average amount apiece was about £55. The public wiU | naturally be asking what effectwiil _the drop in wool have on clothing ?. Even if the present level of wool continues, the effect, provided other ,^rf ltlon X intervene, should be but slight. A man’s suit of clothes sells up to £l6 10s, and about 71b of wool may be contained therein, so that the wool would represent only a few slul lines in the cost! of a sult * f n opinion of men qualified to speak with some authority, the result of tee wool sales had been fully anticipated by tee banks, who are not. likely to impose more severe restrictions on der present conditions. The hanks say they had based their calculations on a drop in the case of wools to S to 10d per lb. This they regarded I J, a more or less temporary level, as is illustrated by the fact that many bankers have advised their clients to hold stocks, f-