THE Southland Times PUBLISHED EVERY MORNING. Luceo Non Uro. WEDNESDAY, 4th FEBRUARY, 1903. THE WOOL SALES.

Southland Times, Issue 18062, 4 February 1903, Page 2

THE Southland Times PUBLISHED EVERY MORNING. Luceo Non Uro. WEDNESDAY, 4th FEBRUARY, 1903. THE WOOL SALES.

The second of this season's wool sales was held in Ashley's Hall yesterday, when a catalogue comprising some 8500 bales was submitted to the hammer. The buyers were present in usual strength, but among the number were several new representatives, while some of those present at the first sale were absent. Both the brokers and the vendors had been prepared by cablegrams and telegrams for a fall in values, but it was not generally anticipated that the difference in the market would be so serious, or that the Southland wool growers would be called upon to sustain so trying a disappointment. The drop is probably to be accounted for by the fact that the buyers were buying on a falling market and in expectation of still lower prices obtaining. The rates were not materially altered in regard to fine crossbreds of good .quality, which sold at values equal to those obtained at the last sale, but coarser crossbreds and inferior sorts declined i from a halfpenny to a penny, and the fall in prices was in the same ratio. In the merino and halfbred classes a drop of fully a halfpenny occurred. Notwithstanding the weak market the bidding was fairly well maintained, except for. the star lots, for which the sale was dull. The extent to which vendors were disappointed mny be estimated with some degree of accuracy from the fact that at auction in some cases as much as half the catalogue was passed in. We understand, however, that a large proportion of this wool was dis posed of afterwards when the farmers had satisfied themselves that the drop was a genuine one, and had concluded that, taking all the circura stances into consideration, it would be unwise to hold any longer or to ship. It is probable that a third sale will be held, the date spoken of beinp the 2nd March, at which some of the lots passed in yesterday, together with new wool, will ba'offered, and we can only hope that in the interval prices will firm. The following comparison of prices as between the first and second sales will be interesting : — FIRST SALE, 1903.

A comparison of these figures will reveal the extent to which those vendors who withheld their clips from the first sale in anticipation of meeting an even more favourable market were out in their calculations, and this year's experience affords to the farmers of Southland an excellent illustration of the truth of the old adage that " a bird in the hand is worth two in the bush."

In order that those interested may make a comparison between the prices obtained at yesterday's sale and those ruling at the corresponding sale of 1902 we give below a table of prices similar to that printed above : —

SECOND WOOL SALE 1902.

From these figures it will be seen that although the prices declined when compared with those obtained at the Grst sale they were still Id to l£d higher than those prevailing at the second sale of 1902, a circumstance from which some consolation may possibly be derived to mitigate the disappointment which our farmers have been called upon to sustain.

Superiortto Good to Medium to good- " Medium. Inferior. Merino .. 8 J to 7 61 to 0 5i to 4J Halfbred .. 7$ to 6 6* to 5 4Jto3i Fine crossbred 6J to 6 4J to 4 4 to 34 Strong xbred .. 6jt041 4to »i 3ito2s

Superior Good to Medium to to Good. Medium. Inferior. Merino .. .. 10 too Bjto7J 7 to 6 Halfbred . . . . 9* to SJ Bto 7 61 to 5 fine crossbred . . 7} to 7 61 to 6 5J to ii Strong orossbred .. 6} to 6 5} to 6 5 to4J SECOND SALE, 1903. Merino .. .. 91 to 8J Bto 7* 6Jto6 Hallbred.. .. BJtoS "AtoOJ 6 to s Fine crossbred . . 7} to 7 6| to 6 61 to 5 Strong crossbred . . 6to 5J 5i to 4} 41 to 4