WOOL SALE WORTH ABOUT £315,000 TO CANTERBURY.

Star (Christchurch), Issue 18629, 5 December 1928, Page 5

WOOL SALE WORTH ABOUT £315,000 TO CANTERBURY.

HANDSOME CHRISTMAS GIFT FOR PROVINCE.

The wool sale held in Christchurch on Monday was worth about £315,000 to Canterbury. This estimate is based on a total of 15,000 bales at an average of £2l a bale. The total offering at the sale was 16,154 bales, but about 1200 failed to change hands at auction. However, a considerable number of the “passed in” lots were sold privately later, and at satisfactory prices. The estimate of 15,000 bales is, therefore, a conservative one. The average price, too, is probably on the low side. The exact average will not be available for a few days yet. Opinions with regard to the prices ruling at Monday’s sale, compared with those at the opening sale last season, differ. Some growers are perhaps disappointed because, as a result of the good sales held in the North Island prior to the one in Christchurch, they had obtained an exaggerated idea of values, especially with regard to the lower grades of wools. The general opinion, however, seems to be that the sale was a satisfactory one, probably the best feature being the general allround demand for wool. Bradford competition eased at one stage, but recovered again later. There was a particularly good demand from the French buyers for wool suited to their purposes, and a good proportion of the offering was bought on behalf of America, by buyers who are generally considered to represent Bradford interests. There is no reason to be despondent over the first Christchurch wool sale. The total cheque from the sale will represent a very handsome Christmas gift for the province.