TO-DAYS WOOL SALE.

Wairarapa Age, 15 February 1934, Page 4

TO-DAYS WOOL SALE.

SURVEY OF MARKET CONDITIONS The third Wellington wool sale of the present season will take place at the Wellington Town Hall to-day. A total of 30,500 bales has been catalogued. Prices are expected /to Ibe rather lower than those ruling at the January sale in sympathy with the general trend of the wool market. Reviewing the wool situation in general, Winchcombe, Carson, Sydney, recently observed that “a dangerously excessive scale of values appears to be the only contingency which might eventually disturb the wool situation. Wool has been consumed in increased quantities during the past six months. The stocks of merinos and the finer crossbreds in millmen’s hands and carryover quantities in the various selling centres were smaller when this season opened than for a number of years. With that position, <the reduced clip available, and the good volume of trade in goods recorded, the sale of the remainder of the clip looks assured at highly satisfactory prices. “IVom time to time the statement has been made that business in woollen goods is suffering owing to lack of export sales. England has shown sohub expansion in foreign business, but most othef countries have not done so. Similar conditions have existed for some years, but, in spite of the circumstances, the great bulk of the record clips the world grew passed into consumption. 'The various countries have been manufacturing the major portion of their own requirements. “Tariffs, import restrictions, and rates of exchange have protected their S f r< \ m the competition of imports. The continued presence of those restrictions is not more likely to prevent the free use of wool this year than in previous periods. On that account, therefore, no menace to the wool market exists.” SOUTHLAND’S CHEQUE. February 14. Southland's wool cheque for the first Invercargill sale, held a fortnight ago, amounts to £476,044. The average ™r baie works out at £l6/5/2, and the /o°A a F e price P** at 11.7 d—- .