CORRESPONDENCE WOOL

Poverty Bay Herald, Volume LV, Issue 17181, 11 February 1930, Page 5

CORRESPONDENCE

WOOL

(To the Editor of the Herald.) Sir, —“Bark Number” is amusing, if not instructive, on tho subject of wool. i challenge him to publish his last year’s account sales and also this year’s to prove that hia eheque \s equal to last year’s, when there is a drop of <SO per cent. He quotes .Sir K. Hoyles as an authority on what iNew Zealand farmers should do, 1 (that, is that they should not. hold their wool, but rush it; to the market. He, being a buyer, naturally wants to buy it as low as possible., it is only 'the withdrawals of wool at tbp last, London wool sale that have ini*, proved the market, causing a rise of from sto 74 per cent. There wore 127,164 bales" catalogued for the January sales; 91,000 were sold; 65,000 were either withdrawn or not put up. On tho last day’s sale 8542 bales were offered. New Zealand contributed 1304 hales and only sold 015 bales, so that over <SO per cent, were passed in. This accounts for the rise at the end of the sale of 5 to 7| per cent., or about £1 per bale. Tho latter portion of “Back Number’s’’ letter, advising farmers to rush their wool on tho market, is so silly that it is not worth replying to. —Yours, etc.,. ■ WOOL GROWER,