WOOL PRICES UP

Ashburton Guardian, Volume 53, Issue 272, 29 August 1933, Page 5

WOOL PRICES UP

GOOD EFFECT IN AUSTRALIA.

IMPROVED TRADE EXPECTED.

OVER-OPTIMISM DEPRECIATED.

(United Press Association—Copyright). (Received This Day, 11.5 a.m.) SYDNEY, This Day. '

At the wool sales, thpugh a less quantity is being offered, than was the case last year, the quality is better representative. The higher prices include greasy 18id and 18Jd. The price are approximately 50 per cent, higher. The Prime Minister (Mr J. A. -Lyons) regards the effects as gratifying to the whole of Australia while the Premier (Mr G. jS. B. Stevens) foresees more employment and greater buoyancy of trade. The Federal Minister of Commerce (Mr F. H. Stewart) has been informed that if the prices are maintained the total gain to Australia will be about £12,000,000. j ' The president of the-Graziers 5 Association (Mr Walker) says, so far as. wool is concerned, the worst is oyer, but the decrease in production may be larger than the 250,000 bales estimated in June.

The chairman of the Wool-selling Brokers’ Association (Mr Cudmore) warns growers not to be too optimistic, owing to the heavy reduction in sheep shorn, as a result of the drought, estimated at least from 20 to 25 per cent. Neither growers nor Australia should delude themselves that they are out of the wood.