THE IMPORTANCE OF LOCAL WOOL SALES.

Otago Witness, Issue 1951, 11 April 1889, Page 18

THE IMPORTANCE OF LOCAL WOOL SALES.

The success of local wool sales In New Zealand and Australia is commencing to attract attention in England, and last numbers of the Economist contain several letters on. the subject. ' T,he Melbourne Argus points oub that in 1879 the quantity of wool bought in the'coloniea and forwarded direct' to the manufacturers amounted to only 94,000' bales, or 9 per cent., out of ft total consumption 'ofl ,166,000 bales. In 1888, however, the quantity forwarded direct amounted to 354,000 bale's, or 22 per cent., out of a total consumption of ,1,609,000 bales. In 1880-1' the wool sales in the three colonies of Victoria, New South Wales, and South Australia' amounted to 19?,000 bales, or 28 per cent, of the total exports— viz., 694,000, of these three colonies. In 1888-9, the season which has just closed, however, the sales have amounted to 457,000, or about 50 per cent, of the exports from these three colonies. Iri view of these facts it ia only'natural that this diversion of the trade should be the subject of 'comment in, London. The following letter, whioh appeared in the Economist of February 9, will help to explain why aopie of the European and American manufacturers prefer to buy in Australia. Of course, Bomo of' the statements can only be taken as expressions of Individual opinion-.—