JAPAN AS WOOL BUYER.

Evening Post, Volume CIV, Issue 24, 28 July 1927, Page 14

JAPAN AS WOOL BUYER.

Japanese business is usually an outstanding feature in the New Zealand wool crutchings sales. This season Australian brokers are a little bit anxious about Japanese competition for such wools as are required for that market. Steady increase has marked purchases of wool by Japan ever since the resumption in the season 1920-21 of selling by public auction in Australia, remarks the Australian Mercantile, Land, and Finance Co. Last season the demand from that quarter was most compelling, and on occasions, especially at sales in the latter end,of the programme, it was the strong support accorded the market by the Japanese buying representatives which caused values to hold when the competition of other sections had slackened. The same competitive spirit, no doubt, still exists with Japanese wool interests, despite the fact that Japan has experienced the disturbing effects of a serious financial crisis following closely upon complications arising from a series of earthquakes, the effects o£ which were largely responsible for precipitating recent financial troubles. This development must be viewed with concern by all interested in the woollen trade of Australia, for all appreciate the part played by Japan in assisting to invest the Australian markets with the prestige they enjoy to-day. Much has been done in the direction of reconstruction, and it is hoped ■ that, in order to maintain the textile enterprise of the country, the financing of purchases will be arranged bo that wool buying can go on as heretofore.