A Colonial Market for Wool.

Wanganui Herald, Volume XXIV, Issue 7226, 29 September 1890, Page 2

A Colonial Market for Wool.

At a recent meeting of the Canterbury Chamber of Commerce, the President quoted tome interesting figures connected with our wool trade and the means of its disposal, from whioh it was gleaned that the total production of Australasia for the year end* ing 80th June of the present year amounted to no less than 1,463,000 bales. Of this, 635,000 balos, or very nearly half the Australasian productions, were sold in the Colonial markets, only 120,000 bales being purohascd with the direct object of reselling in ths London sales-rooms. It was oontended that possibly more ultimately found its way there, owing to the Home market collapsing from other causes, and forcing Colonial buyers to realise in London, but it also strengthened the arguments in favour of the local market forjthe pro- , ducer. Out of 272,513 bales produced in New Zealand, 67,000 wore sold in' local markets, this showing an increase of 17,000 on the previous year, also the tendency manifested by the grower to oiiltivate the oertain market at his door rather than risk the distant uncertainty ut Home. Naturally, a generally inoreaso of sales in the colonies has mot with adverse criticism from the London brokers, who argue erroneously, as the figures abovo quoted will show, that the Colonial buyer, being only a speculator, rests his chances on the London market. Hero, too, is another nut for the local wool grower to orack. He produces wool, say to the value of five shilling!-, whioh he carefully sends to the London market, Bhipped back later on as tweed, and finally paying as many pounds for it made up into a suit of clothes as it cost shillings to produce from tho sheep's baok. There should be no 1 hesitancy, then, about the nonsensical ftrgumont of the Colonial buyer resting hii chances as a speculator on the London market, nor should there be a shadow of a doubt about the producer at once finding a Colonial market for his wool.

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