MANY WITHDRAWALS

Taranaki Daily News, 23 February 1935, Page 11

MANY WITHDRAWALS

WANGANUI WOOL SALE OFFERING. MUCH UNFAVOURABLE COMMENT. After ail allocation of 28,000 bales had ' been made by the wool committee for the Wanganui wool sale the ten firms which specialise in wool brokerage within the area which supplies the sale were able tb produce only 15,200 bales, a fact which caused a good deal Of unfavourable comment by buyers and persons ihterested in the disposal of New Zealand wool. It is a well-known fact that for some time past the buyers’ organisation has been agitating for the elimination'of the Wanganui sale bn the ground that from their point of vieiv it would be much more convenient to concentrate the sales in the main centres. The experience at Wanganui on Thursday night may provide a further cogent argument. against the holding of a sale at Wanganui, but if this argument is used it will be due tb the attitude of the many growers who chose to withdraw their clips. Brokers’ valuations were necessarily low, but they were, aS they always have been, very fair indications of what the wool will bring. Oh receipt of their valuations brokers were flooded with instructions from their clients either to withdraw their Ibts or to offer them with a prohibitive reserve. Thus it caffife about that while the stores Of practically all the brokers were full of wool, only 15,000 bales, or about half the allotment, was available for about 50 buyers to bid for. The brokers were fully alive to the situation, and almost begged clients to offer their wool at a reasonable reserve. Strangely enough, it was the big men who responded, and the small grower with an offering of from five to 20 bales who declined to sell. One sheep farmer with 275 bales cheerfully agreed to accept the condition of the market, and gave the necessary consent to sell his clip. On the other hand, numerous small clips were withdrawn and the sale suffered in But for the Taranaki wool the offering at Wanganui would have been very sparse indeed. Wanganui has come to be recognised as a wool centre for a very large area which includes the Taranaki, Wanganui, King Country and southern districts. It was in a belief of its stability that the wool brokerage firms expended large sums of money in erecting commodious stores at selected spots about the city. In these stores a considerable army of men both skilled and unskilled find employment. Wanganui owes a great deal to, and gains a great deal from, the three wool sales each season. WANGANUI WOOL SALE. OFFICIAL RANGE OF PRICES. Wanganui, Feb. 22. The rahge of prices at last night’s Wanganui wool sale was as follows: — a. a.

Cofriedale — Average ,... 10 to m Fine halfbred, 58, 56/58, 56— Average .... 9 to Inferior 7 to n Medium halfbred, 50/56, 50— Super 9 to 8 to 8S 6 to 7 Extra fine crossbred, 48/50 — Average 6J to U Inferior 5i to 6 Fine crossbred, 46/48— Super 7 to Average * • 6 to 5 to Medium crossbred, 44/46 — 6| to 7 5i to 5! 4£ to 5 Coarse crossbred, 40/44 — Average 41 to 54 4 to 44 Hoggets— Fine, 48/50 7J to 81 Medium, 46/48 6 to 7 8 to 9 Fine, '46/50 7 to 9 Seedy and inferior, all grades 4J to 6 Bellies and pieces— Crb'sSbred, good to super .... 4J to 5 Crossbred, lbw to medium . . 3 to 4 Crutchiftgs— Medium to good 44 to Inferior and seedy & to 31 Locks— CfbsSbrdd ..... 2J td 3