WOOL.

Southland Times, Issue 17267, 11 February 1913, Page 4

WOOL.

The second series of wool sales at Invercargill are now close at hand, and it is satisfactory to know that the market is still firm, and the outlook most encouraging for a ll engaged In' the industry. The first report on the wool trade for 1912 to reach us is that from Messrs Windeler and Co., the well-known firm of London brokers. It shows that though the supply in the London market expeeded that of 1911 by about 10,000 bales, only 2000 out of 1,767,390 were held over for 1913. There could be no more convincing proof of the strength of the demand and the keenness of competition than the clean sweep made in the salerooms And there is every prospect that conditions will be equally favourable to the seller in 1913. Great activity prevails in ail branches of the manufacturing trade, and the mills are running at a good profit. “At the present moment,” say Messrs Windeler and Co., “the more obvious features o£ the situation point to a maintenance at least of the current high level of prices. Trade generally is extraordinarily active, not at Home only, but also abroad, in which the wool industry Is fully sharing, and the confidence of users in the future is shown by the prices paid in the countries of origin for wools which cannot be delivered for some months.” Not only are high prices assured by a steadily expanding demand for the raw material, but the growers position is further assured by the certainty of a reduced supply. In Australia and the Argentine, in the British Isles and South Africa the clips now growing will be smaller than those of the past year, and there is likely to be an unsatisfied demand. Of course calculations may be upset by a financial crisis should the Balkan war drag on, or should a crisis arise in European affairs. Given no untoward events, however, the market for wool during 1913 will be extremely profitable to the grower, and the farmers of New Zealand will share in the benefits of high prices.