WOOL PRICES.

Auckland Star, Volume LXVI, Issue 76, 30 March 1935, Page 9

WOOL PRICES.

MARKET PROSPECTS. France Bans Exports and Germans Need Supplies. BRITISH OUTLOOK. (United P.A.—Electric Telegraph—Copyright) (Received 10.30 a.m.) LONDON, March 29. The "Yorkshire Observer" says that if France's wool stocks are so low that the Government feels it must ban their export, there is every likelihood of increased French purchases in the primary world markets thus hardening prices. The "Yorkshire Post" declares that the wool position is probably stronger than is generally believed. Visions of large stocks available in primary markets and inadequate Continental support are obscure. More positive are the facts, such as a sustained heavy rate of consumption of British, which is nothing short of remarkable. The "Daily Mail" Paris correspondent says that the ban on the export of raw materials, including wool, operated from midnight. It was preceded by terrific last-niinute efforts to obtain supplies, especially by Germans. Buyers offered almost any price, paying cash down. The French wool syndicates have protested against the decree, declaring that it will inevitably cause unemployment. Their chief objection is that it prevents exports not only to Germany, but elsewhere. SHORTAGE OF WOOL. German War Office to Control Flag Displays. FOREIGN CURRENCY SCARCE. BERLIN, March 29. Owing to the shortage of foreign currencies the Wool Controller has curtailed the allotments to spinning mills and other manufacturers between April 1 and September 30 by 30 to 50 per cent of the amounts hitherto allowed. He has further restricted the use of wool to 20 per cent of last year's quantity. The reductions do not affect the wool barter scheme. The War Office, owing to the shortage of wool, has' decreed that only small flags, and fewer of them, shall be ordered.

MAY BE DENOUNCED. FRANCO-GERMAN TRADE PACT. PARIS, March 29. It is understood that the French Government is contemplating the denunciation of the Franco-German trade agreements if a new one is not concluded by March 31. Germany's desire to complete transactions before that date is now believed to explain her large purchases of wool and cotton manufactured goods at abnormal prices.