WOOL CHEQUE

New Zealand Herald, Volume LXXIV, Issue 22909, 11 December 1937, Page 16

WOOL CHEQUE

AUCKLAND SALE TOTAL SUM OF £157,000 CLEARANCE OF 45 PER CENT i X / . SALE by private treaty A sum estimated at £157,000 will be distributed to woolgrOwers in the Auckland Province to-day On account of the first Auckland sale held on November 27. This compares with £439,270 obtained at the opening auction last year, and £240,154 at the corresponding fixture in 1935. Although the amount is considerably lower, it is expected to give added stimulus to all classes of business. Another record Christmas is confidently anticipated, and this sum will undoubtedly swell tho volume of trade. The final figures will not be available until next week, as brokers have not yet completed, a summary of the aggregate results. The calculation this year is more difficult than previously as a good proportion of the wool withdrawn from the sale was later sold by private negotiation. Bale Average of £l4 At tho time of the auction it was estimated that there had been a clearance of only about 30 per cent. However, a number of growers sold later by private treaty, and it is now expected that the final figures will show a clearance of about 45 per cent. Passings at the auction- wore unusually large, as last year there was a total clearance, while only 5 per cent failed to find a buyer under tho hammer in 1935. , " From preliminary calculations, the average price a bale should be in the vicinity of £l4. This compares with £2O 10s 6d a bale received for the first sale last season, and £l2 2s a bale for the November fixture in 1935. The figures , for last year were exceptional, being the highest since £22 lis was recorded in 1928. Comparison of Returns The actual returns from the last two sales in tho previous season and the estimated figures for the first auction this season are as follows; Jan., Mar., Nov., 1037 1937 1037 Bales offered 27,143 22,203 25.000 Bales sold.. 27,487* 22,265* 11,250 Total value.. £613,852 £475,423 £157,000 * Includes additional lots. The following comparison is made with the actual results at the opening sales in Auckland during the past nine seasons: — Average Averago a bale per lb Value £ s d (1 £ 10°S .. 22 11 0 1 5.64 406,000 1020 .. 15 0 2 10.05 238,125 1930 .. 613 2 4.67 100,751) 1031 .. 7 510 5.06 103,131 1032 .. 512 3 3.68 132,118 1033 .. 13 18 2 0.7 327,250 1034 7 16 2'/, 5.628 88,250 1035 .. 12 2 0 8.2 < 240,154 1036 .. 20 10 6 1037 (est.) 14 0 0 9.70 lot,ooo The Next Sale Although the catalogue for the second Auckland sale, to be .held on January 24, closed early in the week, wool continues to pour into the Parnell stores. Tho congestion caused by the waterfront strike has now been relieved to some degree, although brokers' staffs are -still fully occupied in clearing the stores, before grading and classing the clip for the next fixture.