Prospects for Wool.

Alexandra Herald and Central Otago Gazette, Issue 701, 10 November 1909, Page 6

Prospects for Wool.

HOPEFUL INDICATIONS. The cabled communication recording a rise in the price of cotton is expected by Auckland firms to have a good eileefc upon the wool market. " Yes," replied one of the principals of a leading Auckland house to a Herald representative, " our cable advices inform us that both wool and linen goods are advancing in sympathy with the rise of 7Jd in the price of cotton. The extensive operations of American buyers appear to be responsible, and our cables of to-day state that they have forced the price of cotton up to lOd." It was explained that the following advice, dated from London on September 24th, had just reached Auckland : " Cotton is still in the neighborhood of 7d, but should the crop turn out as bad as the Government Bureau reports, it may go up to 8d or 91 again. In fact the American ' bulls' threaten to put it up to 20 cents —a price unheard of since the American War. Linen is also getting very high in price, nnd may be forced still higher. With regard to wool, the sale which opened on the 21st has been a strong one. Prices all round, from the coarsest crossbreds to the finest merinos, have gone up from 10 to 15 per cent. The fact of the Yankees having started to buy so freely and the scarcity of medium and better classes of wool are the principal causes of the advance."