"DISMAL BUSINESS"

Evening Post, Volume CVIII, Issue 85, 7 October 1929, Page 11

"DISMAL BUSINESS"

BRADFORD WOOL COMMENT

Australian Press Association,

r« m i- LO^DON, sth October. Commenting on the wool position lows: "Seldom m recent years has there spirit * u\ 0 f r/. cautlo»t ™A 1«» confident baaiTl^T 0-*'? 01 ls at tenable basis, but trade is slow aud old stocks are L,n? W?, g • liOme topmakers and merchants. Business is still beinoseriously retarded by this general lock of confidence. It i . f tlang e that cheap wool instead of encour agmg the demand seems to be having the opposite Qftect. Keenness to keep machinery employed, however, led to such drastic continuous reductions in the quotations tor tops and yarns that instead of encouraging new business they frightened ufJt bT r< Wh° M s his cllea l' retail purchase of one week, dear the next week because of the lower offers. Consequently uttPrT hf d-tO- m°«tv business and an turS oftf/e market"»° "* the ™™

Messrs. Murray, Roberts, and Co , Ltd are m receipt of the following wool mariffp? 1 Jf c, gl'n\fi'Om theil' L°»d°» ••■gents, fW,, } October !-«Sales have closed Compared with last London sales closl wif ?'#' easy merm °< best descriptions, declined- 10 'per cent, to 15 per cent - greasy merino, other descriptions market irregular, declined 20 per cent, to 25 per cent.; inferior descriptions show the greatest decline. Scoured merino, best, declined 10 per cent, to 15 per cent.; other descriptions declined 20 per cent to *>5 per cent.; crossbred greasy comeback' declined 15 per cent.; crossbred greasy fine best descriptions declined 10 yer cunt to lo per cent.; other descriptions, market weak, declined 15 per cent, to 20 per cent ■ crossbred, greasy, medium and coarse' competition keen, declined 10 per cent to 15 per cent. Crossbred lambs declined lo per cent, to 20 per cent.; crossbred slipe —wool suitable for America—declined 5 per cent, to V& per cent.; other descriptions declined 10 per cent, to 15 per centcrossbred scoured, 10 per cent, to 15 per cent." A later message received by Messrs Murray, Roberts, and Co., Ltd., gives the wool market quotation from their London agents, showing closing, compared with opening rates lor the September-October series, the latter- in parentheses:—6o to 64's New Zealand merino yielding 48 per cent., 12d (none); 56's, yielding 60 per cent., WAd (15& d); 50 % yielding 65 per cent., 13% d (14% d); 44 to 4C's, preparing yielding 74 per cent., 13d (14d); 44 to 40's carding, yielding 72 per cent., V2V-d (13% d); 40 to 44's, yielding 73 per cent 12% d (none); 36 to 40!s, yielding 75 per cent., none (none).