LONDON WOOL SCALES.

Press, Volume LXVII, Issue 20420, 15 December 1931, Page 12

LONDON WOOL SCALES.

REVIEW OF CONDITIONS. CONTINENTAL POSITION DIFFICULT. (UKITED rHESS ASSOCIATION BY SLgCTRIG MI.XGBAJH—COPISIOHT.) LONDON, December 13. Mr W. Devercux (Australian Woolgrowers' representative) reports that the London sales have shown little variation, tbe catalogues containing a good and representative selection of Australians. Competition on the whole was general and well sustained. The . German demand is continuing to be a marked feature for merinos and fine crossbreds. There-is a good British' demand for both merinos and crossbreds. Trance is buying sparingly. Values of merinos and crossbreds, although at times showing some irregularity, have not quotably altered. Withdrawals were mostly due to excessive limits. The position of the tops market at Bradford is practically unchanged. The general Continental position is very difficult and depressed. The German emergency economy decree is having a disturbing influence. The total stocks of tops in commission in combers' hands in Continental centres at the end of November had decreased nearly }5 per cent., compared with October. SYDNEY SALES. DECLINE IN PRICES. GOOD COMPETITION FROM YORKSHIRE. ' (UKITID PRESS ASSOCIATION —BT ILSCTSIC TBLKGBAFH—COPTBIGHT.) (Received December 14th, 11.5 p.m.) SYDNEY, December 14. At to-day's Sydney wool sales 11,751' bales were offered and 9770 sold by auction; also 1663 privately. Prices for merinos of all descriptions declined 10 per,cent. There was good competition' chiefly from Yorkshire, with limited support from Japan and the Continent. ■ Merino fleece sold up to 16d. Brokers report that the average price on the Sydney market up to the present stage of the current season is £ll 3s 9d per bale or 8.6 d per lb. RURAL CREDIT BOARD. MONTHLY MEETING. (mESS ASSOCIATION TELEGRAM.) WELLINGTON, December 14. It was reported at the monthly meeting of the Eural Intermediate Credit Board that a fiumber of further, annual meetings of Co-operativ'e Bural; Intermediate Credit Associations had been held, sSnd almost'without exception satisfactory, progress was recorded. ■ The' Commissioner, reported that the to~.> form an association at Mer&ttty had ; proved r BU«feßssfuL< Since the last meeting of the Board a visit had been paid to the Southland, OtagCf, South Canterbury, nd Canter-• bury ' rural intermediate credit districts by the Depotjj--Comi?iißßxoner, i who had met a number '.of dircctors of associal- - and members ,'of •4istr«jt boards! Mr John Brown; a member of the Central Board, and. sioner took part, in a discussion with the executive: of the South Canterbury' Farmers' Union at Timaru. The object of the visits and discussions had; been to' discover any causes of difficulty in the; working of the system, and; to; give, ■ representatives of local organisations an opportunity of discussing, any points of difficulty with members and officers of the Central Board, with a view of malting the operation of the/ scheme as effective as-pos-sible. NORTH BORNE 6 RUBBER INDUSTRY. LABOUR ARMY REPATRIATED. In spite of the fact that costs of production have been reduced from approximately 2s to 3£d per lb in the last year or two, growers of rubber in British North Borneo are at present quite Enable to work their plantations at a profit, and the industry is now at a complete stand-still. Mr Douglas Wilson, a Chris'tchurch man, who has been surveying in North Borneo during the last' two or three years, told a Press reporter of the sorry state of this industry in the course of an interview last evening. "There appears to be no hope for rubber at the present time," said Mr Wilson. "Huge areas of land were given over to rubber plantations during the boom of some years ago, and are now coming into bearing. Practically all tapping of the trees has stopped, and the large labour army—mostly coolies frym Java —have been repatriated. No more workers are now being k©pt on the plantations than is necessary to keep the cultivated land from reverting to its former jungle state, as it would do in a very short time if given no attention." Mr. Wilson said that the considerable copra industry was not affected to the same extent, although growers had not escaped* completely the effects of the slump. The timber industry also was still flourishing,'with an excellent, export trade to Australia and China. North Borneo possessed wonderful supplies of hardwoods, the most valuable of which was a timber_called billian. Two companies were at present working the resources of the country in this direction.