WORLD WOOL STOCKS

Press, Volume CI, Issue 30007, 17 December 1962, Page 18

WORLD WOOL STOCKS

Post-War Low Level

(N.ZJ’.A.-Reuter— Copyright) LONDON, December 14.

World wool stocks were at a post-war low level of 100 m lb weight of clean wool at the beginning of the 1962-63 season. an international wool study group reported today The group said raw wool production had risen 15 per cent in the last seven years but the increased output had been absorbed by an even greater increase in consumption Last season established a record of over 5650 m lb weight of uncleaned wool, equivalent to about 3210 m lb weight clean, but stock in producing countries and Government reserves had fallen by nearly 200 m lb weight clean. Some delegates fear the trend, if continued, could eventually put a brake on consumption and put up the price of raw wool, The group has just finished a five-day meeting in London at which New Zealand was among countries represented Dunedin Wool Prices Up . (N.Z. Press Association) DUNEDIN, Dec. 14. It was evident that buyers had increased their limits at the Dunedin wool sale today, said the official report issued after the sale. Because of the favourable season and an abundance of feed, the wool was well grown, sound in staple and of good length. Some of the high country fine wools and the coarse wools from the plains showed a slight discoloration from late rains. The market can be quoted as fully firm on recent rates From the opening catalogue it was evident that buyers had increased limits and the tone of the sale was animated throughout the day. Passings were few and the New Zealand Wool Commission had a quiet day. Compe. tition was well spread with the Continental buyers keenly in evidence for wools suitable to their requirements especially in the oddments section.

Ten Pin Bowlins.—Ten Pin Bowling, Ltd., earned a profit of £31.339 in 1961-62. but Will not pay a dividend. However, the directors say they are "mindful that shareholders'reasonably anticipate an early commencement of dividend payments.” The profit is equal to 6.8 per cent, on paid-up capital of £461.750. In 1960-61 profit was £9l. The latest result is after providing £13.804 for depreciation and £21.330 for tax.