LONDON WOOL MARKET.

New Zealand Herald, Volume XLV, Issue 13833, 20 August 1908, Page 6

LONDON WOOL MARKET.

HIGH COMMISSIONER'S CABLES.

[by TELEGRAPH. —PRESS ASSOCIATION.]

Weli.tncton'. Wednesday. Amongst the list of questions answered byMinisters in the House to-day was the following:— the information supplied by the High Commissioner regarding wool prices on the London market is as reliable as can be or is obtained from any other source, and shows the actual position of the wool market as demonstrated by the sales in London. Certain buyers and their agents in the Dominion, when opportunity occurs, endeavour to discount the markets, with the view of buying as cheaply as possible. This cannot be avoided, but producers are safe in taking the High Commissioner's cables as reliable regaining ,the state of the market at the time of the sales quoted. No attempt is, ■of course, made by either the High Commissioner or the local officers of the Industrie® and Commerce Department to forecast the mar kets, and for very obvious reasons such a step is altogether undesirable. In the opinion of local firms of very high repute, whose interests are considerable, and whose reputations are above suspicion, the High Commissioner's cables axe in every way reliable, and they state that if the High Commissioner errs at all it is in the direction of quoting above rather than below the ruling rates.