CONSUMPTION OF WOOL

Press, Volume CII, Issue 30062, 21 February 1963, Page 19

CONSUMPTION OF WOOL

Decrease In 1962

(N.Z.P.A.-Reuter—(Copyright) LONDON, February 19.

The major wool consuming countries, outside the Communist bloc, consumed less virgin wool in 1962, compared with 1961, the Commonwealth Economic Committee reported today. The committee said preliminary figures showed that these countries also produced a smaller weight of tops.

Consumption of materials other than virgin wool by the wool industry, however, was 4 per cent, higher and the output of wool yarn and woven wool fabrics was also slightly up. Three ponds of virgin wool were used for every two pounds of other materials in the top four wool consuming countries—the United States, Britain, Japan, and France.

Wincbeombe. Carson.—Profits of Winchcombe, Carson, Ltd., woolbroker, agent, showed an appreciable improvement in the half-year when compared with the previous corresponding period. As good general rains have now been received in N.S.W. and Queensland, coupled with currently higher wool prices, directors confidently expect the present level of earnings to be maintained for the rest of the year. Interim dividend is steady at 3 per cent. Tbe full rate last year was 7 per cent. Overdrafts Down—Advances and discounts by the trading bonks in New Zealand totalled £lB7m at the end of January, a drop of £ 10.9 m on the comparable 1962 figure. The monthly average of weekly figures, corrected for seasonal variation, was a drop of v £l4Jm on the comparable 1941 figure. w-c «