THE GOLDEN FLEECE.

Wanganui Chronicle, Volume LXXVI, Issue 18071, 8 January 1921, Page 6

THE GOLDEN FLEECE.

FIRST WANGANUI WOOL SALE, BUYERS SHOW A LITTEE MORE CONFI.UEI\CE. The first wool sale in Wanganui took place in the Drill Hall yesterday morning, when SUVU bales were .oit'ered. There was an attendance of about 30 buyers, including representatives of -Bradford Houses, American spinners, and Aew Zealand foil mongers and scourers. The buik of the wool ottered was not of a Ingn class, which probably accounts lor the fact that most of me catalogues were passed in. Bradford top-niaKing sorts were keenly competed lor, anu medium to low crossbreds advancdl apout on last Wellington sales, wnicn is quite on a par with ixapier prices. Bright iambs’ wool was in demand, as also were wools suitable lor America. Mr J. Stephenson, chairman of the Wanganui Wool Brokers' Association, extended a very Hearty welcome lo Wanganui. it was very gratitying to oee so many buyers preoent at mis, the iirst wool sales neid in Wanganui. The Association regretted the present unfortunate state ot me wool market. THey realised the diliiculty buyers Had to face wim restricted markets, and buyers could realise the tremendous uitnculties 01 growers owing to me great difference in the values as compared wim those ruling this tvne fast year under the Government commandeer. tie trusted, however, mat tiie prices offered oy outers wouid result in business either unuer me hammer or afterwards, ane Association hoped to see the buyers all back at tn,e next and succeeding sales during the year. At the next sale there, would be altered a number of cups of nner grades of wool. Bome of these were not available tor that day’s saxes. in conclusion, Air .Stevenson trusted tue buyers would Have a pleasant time in Wanganui, and as lie had said before, he hoped to see mem baca at tne next sales. Messrs Wrignt, .Stephenson, and Co., Ltd., were the nrst iirrn to sell and they started oif by ottering three bales of heavy Lincoln wool on account of Mr James craig, or w angaenu, who was uetermined to have the honour of owning tiie nrst lot of wool ever sold at auction in \v anganwi. Tills tot sold at ■±72d per lb. Messrs ualgety and Co., Ltd., ottered tne clip irom Mr ±l. v. Hammond s weli-Known Lismore station without reserve, and these lots made satisfactory prices. REPORTS BY THE VARIOUS , BROKERS. The following are the reports on the sale from the various brokers: — WRIGHT, STEPHENSON, AND CO., The first wool sale of the season was held in tne Drill Hall at Wanganui yesteruay; tne total oitering by all brokers was uUBs bales, or which we submitted 652 bales. There was fair competition up to a certain figure, winch, however, aid not coincide with vendors ideas, wim the result that most of me catalogues were passed in. There were no super wools ottered, but wools suitable lor Bradford showed an advance on late sales of fully Ti-d per our catalogue, being nrst on tne list, was opened wim three oaies of heavy Dinconi wool on account of Mr James Craig, of w angaenu, and sold at 4 d per io., tins Client thus having tne honour ot’ owning me nrst lot of wool ever sold at auction in Wanganui. The top price of tne sale, 11 %d, was secured by us for two bales of Southdown on account of Air Duncan Mackintosh. some of the best prices offered in our catalogue were: E.K., Mangamahu, line crossbreu, lud to Ratutawa, crossbred, D/zd to 8 7<d; Manawa 85&d; J.T.M., Southdown,

The following range gives an indication of prices realised:— Southdown lUd to il*&d; crossbred, fine, yd to iu!'2d; crossbred, medium, 6d to crossbred, course, 4d to crossbred, inferior and seedy, 3d to 4d; 'bellies and pieces 3d to 4 J / 2 d; locks Id |to 2*/ 2 d; crutenings 2d to , lambs, good, Ud to Ila; lambs, medium, 6d io td; lambs,' inferior and seedy, 3a to 4d. LEVIN AND CO., LTD. Tiie first Wanganui wool sale was held yesterday al the Drill Hall. The total ottering was bUOU bales, of which our catalogue comprised 318 bales. There was quite a good attendance of buyers, all the Bradlord houses who have rxew Zealand representatives, being present. There were also three or four opreating on account of American wool spinners. The Dominion lellinongeis and scourers were also present in good force. The wool offering generally to-day, we regret to say, was not of a very high standard. The cups were not too well grown; the staple was inclined to be thin and tender, and seed was showing in some of tny best wools, as well as in the inferior. Apparently much of the good '”ooi in the district is being held in the country for future disposal. Only a small proportion was tit for American demand, and for this prices ranging from yd to 10was bid. The bulK of the wool was Bradford top-mak-ing sorts and for this more general competition was elicited than at earlier ales in the Dominion, which caused medium and low crossbreds to advance to about %d on last Wellington sales. Lambs’ wool was freely sought for, and yd to’ lid was paid for the best, but seconds antf inferior was not in demand. Bellies and pieces sold also at some advance on previous ruling ratus. We sold over 60 per cent, of our catalogue. Range of prices:—

Southdown lud to 11 %d; crossbred, SVid to 10%; medium do. 6d to 8d; coarse do. 4d to s Vid; inferior and seedy do. 3d to 4d; pieces and bellies 3d to 4-frd; locks Id to 2Vid; crutenings 2d to 3%d; lambs, good, yd to lid; medium do. 6d to 7d; inferior and seedy do. 3d to 4d. .J 11 ® following are some of the prices bid for some of the main lots in our catalogue:— Southdown, A.H.R., 2 bales, 10 crossbred, fine, no good lots offering. 3 bales, S!4d. Medium: X over 5 r.W.S. over S. 5 bales, BVid; A.P.M. | bales, 7 Vid; F.M. over O. 27 bales, 7Vid; 0.1. C., a bales, 7Vid; 0.1. C., 3 bales, 7d; Lenagour, 4 bales, 6%d; Renagour, 8 bales, 6 3 4 d; Whiskie Bros., 4 bales, <’ 2 d; Hukeroa, 14 bales, 6 3 id; N.F.M 7 bales, 7 Mil; N.F.M., 4 bales, 6d; W.8.R., ci/ b^le^.’ l i7 l/4d ’ F ;? 1 * over 17 bales, 6Vid; I.M. over 0., iy bales, 6d; A.P.M 3 bales, 6V4d; Hukeroa, 16 bales, 6d’ Coarse: F.M. over 0., 22 bales, 5 Vid; i bales, s Vid. Lambs: Hukeroa, 8 bales, 9Vid; NJAM., 3 bales, 7d. MURRAY, ROBERTS, AND CO, LTD. At the first wool sale held at Wanganui yesterday we offered, in conjunction with Messrs Smith, Webster and Co., 381 bales* The catalogue consisted entirely of medium crossbred w 001, suitable for Bradford trade very few lots showing brightness or lustre. -Many of the lots were very mixed in qualities and almost entirely unskirtThe attendance of buyers was practlj cally tiie same as at Wellington, except that the southern fellmongers were I not so well represented, and there were ! no buyers from the woollen companies .competition was more general than at < the last Wellington sale, and prices for [medium to fine crossbreds were from a to tllree farthings better than at Wellington for similar wools. Very [ feew wools suitable for America was : catalogued, and prices for these were hardly equal to Wellington values. The i few lots of lambs shown were well competed for, as were also pieces and bel•lies. The following is the range of prices current: — Southdown lOd to ll%d per lb.; cross- ? ie ?M bne ’ s /4f l to 10i '£d; medium do. 6d to 8d; coarse do. 4d to 5%d inferior and seedy crossbred 3d to 4d; pieces nnd bellies 3d to 4%d; locks Id to 2 ciutclimgs 2d to 3%d; lambs, first 9d to lid; medium do. d to 7d; interior and seedy lambs 3d to 4d. FREEMAN JACKSON AND CO. Messrs Freeman Jackson and Co nrb.»o S^= n l lt i t i ed 477 and made puces as follows: Southdown, lOd to 11 %d; fine crossd 1 . t)1/ = d: medium crossbred bd to Bd, inferior crossbred 4d to

inferior seedy 3d to 4d; pieces and bellies 3d to 4%d; locks Id to 2Vfcd; crutchings 2d to 3%d; good lambs 9d to lid; medium lambs 6d to 7d; seedy and inferior lambs 3d to 4d. JOHNSTON AND CO., LTD. The first Wanganui wool sale was held yesterday, with a good attendance of buyers. We submitted a fairly representative catalogue of the wools grown in this district, and disposed of 4 5 per cent, of our total offering. Competition was fairly good for the finer sorts, bur. no super, fine crossbred or medium crossbred wools were submitted suitable for American buyers to really test the market for those grades. Bine crossbred and medium crossbred unskilled wools showed a slight advance. Good clean coarse crossbreds also sold well. Inferior and seedy crossbred were not in much demand, most of these being passed in. Lambs’ wool was in good demand, clean sorts of good length and free from seed bringing up to lid per lb. The following is the range of prices realised:— Southdown lOd to llV4d; fine crossbred ‘JU to LOVfcd; medium do. 6d to d-k; coarse do. 4d to 5 Vad; inferior and seeay crossbred 3d to id; good lambs 9d to Ud: medium do. 6d to 7d; seedy and inferior lambs 3d to 4d; pieces and bellies 3d to 4Vid; locks Id to crutchings 2d to 3%d. THE FARMERS’ CO-OP. ORGANISATION SOCIETY OF N.Z., LTD. We report holding the first wool sale of the season in tiie Drill Hall yesterday morning, when we submitted a catalogue comprising principally medium and coarse crossbred wools. For tine wools of good quality competition generally was good, but bidding for the lower grades was irregular on account of the restricted demand. We quote the following range of prices:— 36’s to_4o’s, 4V£d to 6Vid; 40’s to 44’s, oVid to 7%d; 44’s to 46’s, 7Vsd to lOd; beilies and pieces, 3V£d to sd; locks to 2y 4 d. DALGETY AND CO., LTD. Dalgety and Co., Ltd., report; The lust Wanganui sale was held yesterday in the Drill Hall, the total offerings of all brokers amounting to about 450 u bales, our quota being 1080 bales. Buyers attended in full strength, all sections of the trade being well represented. A few of the choicest lines of well grown and well classed Romney wools were secured for the American trade.

Tiie majority of the Wanganui wools are essentially Bradford top-making sorts, and although prices offered were low the enquiry was stronger and bidding brisker than at last Wellington sale. With commandeer prices fresh in our memory, it is a shock to growers when they realise that wool has depreciated to such an extent in so short a time, and naturally at the commencenient of the season they are diffident about accepting the rates at present being offered. The stocks of medium and low crossbreds in England and Australasia are abnormally heavy, and until the accumulateion disappears into the manufactured article, and until the manufactured article goes into consumption, it appears as if the present low rates will continue. The demand at yesterday's sale follow crossbreds, appears to come principally from Continental buyers; a little competition came from Bradford, but their limits were very low. W hen compared with last Wellington sale, we would say prices offered for medium and low crossbreds were better by from 72 d to d per ib. In the majority of cases growers’ reserves were much above buyers’ idea of value, and many lots were passed at auction. Competition for lambs’ wool was good and satisfactory rates were obtained for bright well-grown lines of medium to fine quality. It was noticeable throughout the sale how some good lines of bright crossbreds lost valuable competition through owners’ neglect to skirt and remove tne bellies. We sold 42 per cent, of our catalogue by auction, some of our principal sales being as under:— Lismore, 30 bales Ist: lambs 10V&d, 3 bales fine crossbred hoggets lOd, 26 bales medium crossbred wethers !>d, 31 bales medium crossbred hoggets B?id, 10 bales Romney rams Bd, 82 bales medium crossbred ewes Bd, 33 bales bellies 4‘ 2 d, 6 ., blst: P ieces 12 bales locks 10 bales 2nd lambs 6 V2; C.8.D./ Th Gums, 6 bales coarse crossbred s Vid, a bales crossbred hoggets 6 6 bales crossbred ewes 6Ud; E.T.F./M, 6 bales medium crossbred hoggets, 6Vid

N.Z. LOAN AND MERCANTILE. The New Zealnd Loan and Mercantile Agency Company, Ltd., Wanganui, report having held their first wool sale for the season, and the first sale in Wanganui yesterday, at the Drill Hall. Our highest price was lid for a line ot lambs’, and another line of fine crossbred made 10Vid. We offered 1235 bales, and sold some 400 bales. The range of prices realised was as follows: ,n%, 4u ’ s ’ coarse,4%d to 6%d per lb.; 40/44 s, medium, to B%d; 44/46’s fine, 6*4d to 10V&d; lambs, B%d to lid’ N.Z. FARMERS’ CO-OP. DISTRIBUTING COY., LTD. The New Zealand Farmers’ Co-op-erative Distributing Coy., Ltd., report having submitted at the first wool sale held in Wanganui 492 bales of mixed wools. The bulk of the offering showed lack of skirting. On the present market the grower who skirts his wool will gain appreciated prices. No buyers representing the woollen companies were present, and few of the fellmongers. There was fair American demand. Following were average prices obtained:— <* Southdown 104 to 11?4<I; fine crossDied 9d to 10Vid; medium crossbred 6d to 8d; coarse crossbred 4d to s Vid; inferior and seedy 3d to 4d; pieces and bellies 3d to locks Id to 2V*>d’ crutchings 2d to 3%d; Ist lambs ~9d to Lid; medium 6d to 7d; inferior 3d Various lots sold were:—Ngaturi* 26 bales, R.H.A., lOd; 16 bales, R.H.8., Bd--4 baies, W. 8., 6d; 36 bales, R.E.A., BVid; ln 3 . b / e ?’, ‘fl; » bales Al Lambs. 11 bales Ist Pcs. sd; 8.8./KohP Ci'os-sbl'ed H., .j %d; lambs, 5%d. Jlarnga/Ng'aheke, crossbred H.A. Slid; crossbred H. 8., 4Vid; crossbred W. 8.. 4V»dcrossbred E.A., 4%d; E. 8., 4%dj \ .P., Border rams, 5 J 4d. 6 rhe next wool sale is set down 4th rebruary, and wool will require to be in store by 28th January. BRISTLING WITH DIFFICULTIES. VIEWS OP A VETERAN BUYER. Possibly no man in New Zealand possesses a closer or more intimate knowledge ot the wool trade than Mr Walter 'i Christchurch. President of the Wool Buyers Association. A “Chronre Porter took advantage of Mr Hill s presence at the wool sale yesterday to obtain his views upon the wool situation generally. ‘ I am not a seer,” leplied the veteran buyer when aproached by the pressman, "and I cannot forecast the future of the wool market. No man living can do that at the present time. The whole situation is bristling with difficulties. With regard to the sales which were held today, I can only say that competition was as good as at previous sale, and

prices on about a par with those obtained at Napier, and better than ruling at the sales held previously. As far as I can see there is not likely to be any improvement in the near future. If Germany could be financed, it would not take long to relieve the congestion. I am in my 30th year as a buyer, and have never missed a wool sale which I wanted to attend, and 1 can truthfully say that thffi is the most difficult year I have e\*er experienced. If the labour unrest in Britain could only be allayed the position might be improved. The whole trouble is that there is over two million bales of surplus wool hanging over the trade.” “However,” proceeded the President of thQ Wool Buyers’ Association, “the position is no worse now than it was after the Boer War. You will remember that in 1907, at the time of the American financial crisis, there was a similar general upheaval. What follows a feast?” suddenly queried Mr Hill. “A famine,” diffidently hazarded the pressman.

“Exactly,” continued Mr Hill. “We have had a feast for four years, and are now reaping the natural consequences. In 1907 the fringe of the American financial whirlwind just brushed our shores. How much the present upheaval will affect us remains to be seen. However, there is no need for pessimism. The sheepfarmers of this country during the past few years have been reaping a rich harvest, and if they take an average over the last six or seven years they should still be well to the good. There need be no fear of bankruptcy in New Zealand because of a few low-priced years. The farmers should have a reserve as a result of the excellent prices they have been receiving recently.” “As a matter of fact,” declared MiHill, “New Zealand sheepfarmers have largely themselves to blame for the slump which has taken place in wool. Had -Mr W. D. Lysnar and others who followed his lead been smothered or buried, the sheepfarmers of New Zealand would to-day have been receiving from 14d to 16d per lb. for their wool. The Imperial Government were grateful to the colonies for the patriotic assistance they had rendered during the war. and as a reward were quite prepared to continue the commandeer prices more especially as they had taken the shipping away from colonial producers during the war. The Motherland was prepared to make amends for this by assisting the colonial markets for produce, but Mr Lysnar and others would have none of the commandeer. ell, the farmers of New Zealand are now paying dearly for turning down the Imperial Government’s liberal offer to continue the commandeer.”

Mr Hill went on to say that it cost buyers 300 per cent, more now to ship I and handle wool than it did four years | ago, and these extra charges had to ' come off the raw produce. “The present position is the fortune of war,” concluded Mr Hill; “farmers have been I getting splendid prices for several years past; now they are getting poor prices, and they must smile and bear it.” BUYERS DISPLAYING MORE CONFIDENCE. That buyers are displaying more confidence as the wool sales proceed was the opinion expressed by Mr 11. Bannister, an experienced wool expert, , as auctioneer tor Messrs femith, Webster and Co., at the wool sales yesterday. Seen by a ‘•Chronicle" 1 eporter, Mr Bannister said it was apparent that buyers had now placed a value oh wool, whereas at the earlier sales they were not prepared to make otters. farmers, he considered, should be prepared to meet the market, instead ot holding out tor high prices. He could remember after the Boer War when sheepfarmers refused otters of 7d per lb. for their wool, which they were glad to quit at 4d per lb. the next year Iroducers who hung on to their wool had no guarantee that better prices would prevail next season, when the next year’s clip would further swell the congestion. Farmers should be guided by the brokers and be prepared to accept reasonable offers when advised to do so. Mr Bannister gave it as his opinion that wools suitable for the American market would fetch better tre CeS lf Sent L ° the SaleS at the cen_ T.j-9i ue i s > tioi ?s d upon this Point, Mr Walter Hill, President of the Wool Buyers’ Association, said he did not hold with this view at all, as Wanganui was considered one of the centres by the buyers, and if the eyes were picked out of the offering the buyers would naturally conwas “ oL woi ’tb while attending the W anganui sale. In any case, no advantage would be gained by sending the wool to Wellington, a if this were done the farmer would have to pay the charges at present borne by the buyers LONDON TALLOW MARKET. Messrs Dalgety and Company. Ltd report having received the followingcablegram from their London house under date ot ath inst:— “Tallow.—l9oo casks offered; 100 casks sold. Fine mutton 56/ ; good mixed sO/. Market looks like going lower because South America pressing.”