WOOL.

Press, Volume LVI, Issue 16987, 9 November 1920, Page 6

WOOL.

j ♦ J AMOUNT IN STORE AT HOME. (SPECIAL TO "THE TRESS.'') WELLINGTON, November S. A statement, as to the amount of New Zealand and Australian wool in. store in Great Britain was made in the House, of Representatives to-day by the Prime Minister, who had promised a few days earlier to cable to the High Commissioner for information on the point. Mr Massey said he had received a communication from the Director-General oL Haw Materials, stating that the stocks of Australasian wool held by the Imperial Government on September 30th were as follows : — New Zealand. Bales. Merino ■■■ 3,jta» Crossbred combing hue •■■ li > JJ ' J Crossbred combing medium ... 2^' j Crossbred combing low •■• Crossbred clothing lino •■• ' S '°fh Crossbred clothing medium ... Crossbred clothing low ... b,310 Slino . ... ... 150.fcScoured 1_ 149,1W Total 765,356 Australian. }} aics \ Merino combing ... ... 688,04(5 Merino clothing . . ... 119.847 Merino carb. . . ... 90,i.8'i Crossbred combing line ... 300,09 i.' Crossbred combing medium ... Crossbred combing low ... 137,0._ Crossbred clothing fine ... 41,840 Crossbred clothing medium ... 41,197 Crossbred clothing low ... 7.1<£90 Crossbred carb. fine ... £8,9-' Crossbred carb. medium 7*»,844 Crossbred carb. low ... 40,240 Total 1,870,(322 Grand total . . ... 2,<xU,9'The following was a comparison of stocks held nt Juno 30th and September 30tih, 1920:— June 30. Sept. 30. Bales. Bales. Merino ... 1,130,23G 914,131 Crossbred ... 1.f>40.031 1,571,617 Slipe ... '135,187 150,227 Totals ... 2,905,474 2,635,978 Mr Massey added that the DirectorGeneral of Raw Materials had been askby cablegram if the closing values obtained at the October London , sales could be accepted as approximately Imperial Government reserves, and ho had replied as follows: —''The continued weak market and espeeiallv low offers by Argentine and Australian sellers make it impossible to expect low and medium grades of wool to sell at November auctions at prices equivalent to those rovlised in October. Wo are doing our best to make the reduction as small as possible." "It is not a very good position," commented Mr M.nssey. "That is tho best t'hat can be said about it."