WITHDRAWAL OF CROSSBREDS.

Evening Post, Volume CIV, Issue 9, 11 July 1922, Page 7

WITHDRAWAL OF CROSSBREDS.

(UNITED PREOS ASSOCIATION;—COPIRIGET.)

(AUSTRALIAN • NEW ZEALAND CABLE ASSOCIATION*) i (Received July li, 10 a.m.)

j LONDON, 10th July. "Bawra" has made an .official'statement to the effect that the crossbreds in its hands diminished during the past two years by 239,000,000 pounds, while stocks of Argentina and Uruguay wool decreased during the same period by 131,000,000 pounds. Allowing for all the deductions there is an absolute certainty of the world's supply being diminished by 220,000,000 pounds, possibly by 240,----000,000 to 260,000,000 pounds, after allowance is made for 30,000,000 to 50,000,----000 pounds increase of crossbred stocks in the hands of dealers and manufacturers.

"Bawra" declares, that the surplus crossbred wool of the. Southern Hemisphere was ■ almost wiped put in 1921. During 1921 Rivor Plate shipments totalled 633,000 bates, which was 'double the estimated amount of the' next clip. Practically th 9 whole of the Australian and South American crossbred purchases have been made for Europe, the United States taking less than a quarter of its .usual share.

In view of the above facts, "Bawra," supported by many leading buyers, considers that some time ig required to' digest the recent heavy purchases of crossbreds, therefore it has- decided to withdraw as fat as possible all medium and coarse crossbreds from the July to September sales. "Bawra's" offerings for the July sales were: Australian, 28,500 bales; New Zealand, 10,400: Cape, 46,000; free Australian, 44,000; free New Zealand, 39,000;' Cape, 2000* Falkland, 2000;" Pimta Arenas, 18,000.