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Southland Times, Issue 11654, 7 February 1891, Page 2

'I he fipcond of this spaeon's series of wool sales at Invercargill took place on Wednesday. The result wa< highly gratifying to growers and brokers, and we trust that buyers also may re«p a reasonable profit oa their investments in due time. Both 9eries of sales have more than realised anticipations. Indeed they have entirely falsified the prognostications of some dismal prophets. It was an open secret that considerable losses hid been incurred by some buyers over their previous year's operations in this market, and fears were entertained in some quarters that the effect would be to deaden the conjpjtitjon on this occasion. Happily, as is now known, no such renult ensued, but, on ihe contrary, the attendance of foreign buyers was larger lba« formprly and the bidding — excited by news of hardening prices at Horne — keener than usual. A distinct advance was marked on all classes at the January sales, and at the sales of this week a further substantial improvement in prices was secured. The sale.*, as usual, were conducted in the N.Z.L and M.A. Co.'s waveiiouso§ in the Crescent, and the catalogue embraced 1500 bales. The mfirino lots submitted ittyacted particular attention and the rise in value of £h.it description, as will be seen from the brokers' puiuekjJ&rs., waH most pronounced. The other vaiieties, however, were likewise in bri*k demand, an J, over all lines, an increase of from £ 1 to Id took place. froHabredc ranged from 8d to 10^d, while for ha'fbred Jqts as high as 11| I was freely given. Farmers were present in large numbers during the sale, and were conspicuously appreciative of the activity of the buyers . All those growers who have availed themselves of the local open market for several seasons past have reason to be highly satisfied with the result, and a farther effect should be a large increase in the volume of thepgtalogneH in future. Houthland is, as has heen said in phis place often, emphatically a sheep country, and with anything like fairplay, ami loyalty on the part of her citizens and the residents of the district, Inyercargill should rapidly become one of the most important centres of the wool trade in tbe colony, Cowurraotlj with growth.

in this depirtment there should be, and i no doubt there will be, a corresponding I development in other branches of commerce, and the business houses of Inver car^Hl will be Badly negligent of their own intercuts if they do not secure the. full benefits of the import trade which must enHue upon so large and profitable an export business. Tbe worst of ihe "times of depression " for the farmers is now happily past aud gone. Prices for the staple product* are admittedly remunerative. Tbe markets of the world are becoming almost daily more accessible. The means of internal communication are constantly improving, and the initial outliy on an enormous acreage has been made and met. *'n the whole the prospects of the agriculturists in this favoured portion ol the colony may fairly bj said to be exceedingly hopeful, and as nothing so much conduces to future success as success achieved a period of great activity among the farmers may now be looked for. This is just about equivalent to saying that ' the good time coming,' for which all have longed and waited so wearily, and withal so patiently, is at last about to gladden our hearts and lighten our labour, and to prove once more that patient perseverance in well-doing in duo time reaps its reward. When Sir Julius Yogel returned to oar shores for the express purpose of " restoring prosperity " and sending the colony leaping and oounding along the highway of progress he never lost an opportunity of affirming that all thst was necessary to accomplish bis great and patriotic purposes was "confidence" He may lißve meant — probably did mean — confidence in Sir Julius Yogel If so it wa6 speedily proved that confidence of thitt sort was worse than useless, and entirely misplaced ; for the would-be " Saviour of his country got the opportunity of applying his nostrums to the nialadips of the Mate and only plunged the Sate into deeper distress. The kind of confidence that does good, has, however, b- j rn restored. The confidence of the foreign creditor, and the confidence of the -people in themselves and in their country. In both of these directions confidence has steadily grown ; not since Sir Julias returned, j but silica he again departed, shaking the dost of tbe colony from liis feet. The confidence that was required j was initiated and encoura^-d tv a j different net of men (r<>m him and ! his associates altogether, and by the j inculcation and acceptance of a dif- '•■ ferent doctrine to that they taught, ; viz., the doctrine of hard honest work j and chi erful thrift. ' hese are, of j course, but homely principles of human : conduct. They are, however, eminently : safe and generally Kuccrs.'-fiiJ. It </nly j requires their universal adoption, and persistent practice, to ensure for us the ; prosperity now so confidently atiticij pated.