CAUTIOUS BUYING.

Evening Post, Volume CV, Issue 25, 30 January 1923, Page 7

CAUTIOUS BUYING.

Sir Arthur Goldfinch, London chairman of Bawra, in a recent interview, remarked:—"Looking at things broadly, and not from the exclusive point of view of any particular class of wool-growers, it seems to me a good thing that the market should be resisting as strongly as it is now doing the exceedingly high premium on merino wool. No one could wish a return to the state of affairs in 1919 and the early part of 1920, when buyers in almost all the markets seemed to lose all sense of caution, and competed against each other at wildly advancing prices. Nothing of that sort has happened during the steady improvement of the wool market, which commenced in October of last year. Buyers have been, if anything, over-cautiouß, and are resolutely determined not to suffer in the way they did two years ago. At all stages right up to the shopkeeper orders have been kept severely down to the point at which an immediate re-sale can be counted upon, and it haß, in fact, been a feature recently in many sections of the trade that orders have been postponed too long and business has been lost owing to want of suitable stocks at the right moment."