PROSPEROUS WOOL SEASON

Dominion, Volume 29, Issue 300, 15 September 1936, Page 9

PROSPEROUS WOOL SEASON

r Newspaper’s Prediction (Received September 14, 9.20 p.m.) London, September 14. The “Financial News” predicts a prosperous wool season. "The total carry-over, both in- exporting and importing countries, is anything but heavy, in fact it is appreciably smaller than a year ago. Supplies of raw wool are unlikely to be heavier and may even be slightly smaller. The demand for textiles is still expanding with the general improvement in business conditions. It is scarcely surprising that prices of textiles were fairly firm when values w r ere seriously tested in Australia a fortnight ago. The market is likely to be firm when the London auctions open’ on September 15 and will probably continue firm throughout the season.” JAPANESE BUYING PLAN New Zealand, South Africa and South America (Received September 14, 9.20 p.m.) Tokio, September 14. Wool interests have answered the Ministry of Commerce and Industry's questionnaire under the Imperial ordinance of June 25 upon which Import quotas, import price compensation and restrictions on yarn manufacture will be decided.

The “Yomiuri” understands that the answers collated envisage the purchase of a total of 400,000 bales of South African, South American, and New Zealand wool.

A cable dated June 25 stated that, an ordinance which is to operate for 12 months provides first for the import of wheat, starch, flour and wool subject to licence by the Government; and secondly for a 50 per cent, ad valorem surtax to be imposed on meat, butter, condensed milk, leather, animal fat and casein. The ordinance ordered wool importers and manufacturers to report all quantities under import or manufacture or in stock while, in applying for licences for import hereafter they must submit details of the kind, origin, quantity, time of arrival and such other information as is required, the purpose being to give the Government control of the entire industry with flexible adjustment imports, which will be usable as a weapon in any fuither negotiations with Australia.