WOOL VALUES.

Auckland Star, Volume LXIV, Issue 16, 20 January 1933, Page 8

WOOL VALUES.

SALE COMPLICATIONS. BUYERS IN A QUANDARY. BIDS INFLUENCED BY CHANGE. Exchange was a burning, question at the Auckland wool sale this morning. Before the sale started separate groups of buyers and of wool brokers could oseen outside the Town Hall discussing the probable effect on the sale. Buyers pointed out that there had been no opportunity for them to get into touch with their principals in order to obtain fresh buying instructions in accordance with altered conditions. The change, it should be emphasised, makes it possible for a Bradford wool buyer to secure £100 worth of New Zealand wool by payment of £75 in London. It was expected, therefore, that buyers should be in a position to raise their offers accordingly. Buyers whose buying arrangement involved payment in Bradford might bt expected to adjust their offers without question, but buyers taking delivery in the Dominion would be placed in a quandary. There was some talk of brokers putting up a combined front and seeking an undertaking befbre the sale started that the difference in the exchange rata would be added to their valuations. However, nothing was done in this connection and the first lot was offered to buyers by the chairman of the Auckland Wool Brokers' Association, Mr. B. J. Marquet, on behalf of his firm without any comment. Howe'ver, the progress of the sale seemed to indicate that buyers generally had added the difference in the exchange rate to their purchasing limits, as there were very few passings in the first catalogue.