SHADOW OF WAR

Wanganui Chronicle, Volume 83, Issue 92, 20 April 1939, Page 7

SHADOW OF WAR

DUNEDIN WOOL SALE AFFECTED MANY LINES SOLD BELOW REAL VALUE [ I Association. I DUNEDIN, April 19. The fourth and final wool sale ol the 1938-39 season held in Dunedin today did nothing lo buoy the flagging spirits of the wool growers in this provincial district. The issue had been clouded by rumours of boycotts and curtailments, but it was the larger issue of international complica- ‘ lions which actually communicated ' to-day's auction the unfavourable asI pect which it presented. Competition . was not keen, even among those sections of the market which have in the I past contributed definite liveliness to the proceedings in this centre. By this ’ it is not implied that France, always ' an enlivening influence in the market in New Zealand, was not an active participant in the day’s selling. What- ’ ever the intentions of the French . Government may be, Ihe French operators were more than willing to ' take their part in the bidding. The , Continental buyers had to consider ' the possibility of being unable to j make delivery of their purchases at , the consuming centres owing to the 5 possibility of an outbreak of war and * this eventuality, more than any sug- * gestion of a boycott, reacted unfav--1 ourably on local values. Prices were not high and many descriptions of atS tractive fine wools were sold or were passed at rates considerably below their real value. The Duinedin Wool Brokers’ Association’s official report is as follows: The fourth Dunedin wool sale was held to-day when 24,473 bales of wool were catalogued. There was a full P bench of buyers representing all purchasing countries. The wools on offer 11 ’ were an average selection wtih a 0 greater percentage of crossbreds than usual at the closing sale. Fine wools I auctioned mostly represented later y shorn back-country clips, the quality " of which showed the adverse weather conditions prevailing during the win- “ ter. 'lliere were also a few choice ’ s early shorn halfbreeds that were in good condition. The crossbreds on o£e fer were representative of the clip II and there was a number of outstanding Lines distributed throughout the e catalogue. There was a big welgftt of s skirtings on offer and these varied in condition. I From the outset until the close of c the sale competition was very erratic. c Choice lines of fine wools were in e good demand, especially when re- ’’ quired by local mills. The sale, howe ever, for average and inferior G Merinos and halfbreds was very dist appointing, limits for this class of II wool showing a marked reduction on the previous Dunedin sale. Crossbreds were in good demand, especially for stylish lots, and hoggets came in for particular attention. Some grades sold at the best price for the season. The same attention was not. paid to medium and inferior quality crossbreds, which were hardly up to last sale’s quotations. The demand for skirtings varied according to quality. Fine descriptions were weaker in sympathy with fleece, but crossbred i skirtings sold particularly well. The mainstay of the market was Bradford, who purchasd a big weight of the offering, with France, Belgium and Germany buying moderately. Limited orders were also on the market for America. Canada and Japan. Local mills operated on best halfbreds and Merinos and choice lines of skirtings. Australia also was buying a few lines of crutchings The poor sale for fine wools accounted for the bulk of the passings, which were approximately 10 per cent. Top price was 14ld for a 5-bale lot of first halfbred grown by R. Sutherland of Ka.- ' hiku