THE FALL IN WOOL.

New Zealand Herald, Volume XLV, Issue 13845, 3 September 1908, Page 5

THE FALL IN WOOL.

[BY TELEGIIAPH.— CORRESPONDENT.] Wanganui, Wednesday. Iv moving the adoption of the report at the annual meeting of the Freezing Company to-day, the chairman spoke of the unsatisfactory state of the Loudon markets, as regarded two of the company's products, pelte and wool.In the first four months of the season, he said, the former fell from 50 U 60 per cent., and the latter from 40 to 50 per cent. This sudden and extraordinary drop in wool was very hard to account for. So serious was it that it could be safely said the income from wool throughout the country was not more than half, if it were that much, of what it was last year. The only reason that could be put forth for the fall was that the. depression which first made iteelf felt in America, and: then spread throughout Europe, had so lessened-the purchasing power of the people in those countries that they were unable to buy woollen goods. Farmers in this district, wh» last year had got lid or 12d per lb for their wool, had got as low as M per Hi tor it this year. The price of wool should have been higher than ever; for- statistics showed that in the wool-producing countries of the world, sheep had decreased, by 44 millions, while the population in the Some countries had enormously increased. It was noticeable principally in the more densely-populated /"'..-loiiptriißs, Germany .being amongst the iiumbw. .