WOOL MARKET

Evening Post, Volume CX, Issue 79, 30 September 1930, Page 12

WOOL MARKET

NO REVIVAL EXPECTED

FINANCE CHIEF OBSTACLE

(By Telegraph.) (Special to "The Eyeninn Post.")

DLNEDIN, This Daj

From one of the chiefs in the-wool business of New Zealand an opinion has.been obtained as to the prospects of the com-

ing season

He' says with' vei'y much regret that the men who operate in a big way see no reason to expect a revival in prices when the first of, the Dominion's bigsales takes places at Auckland on 2Gth November. The markets.for textiles are depressed the world over. ' The general financial stringency is, of course, the originating cause, and on top of that there is a good deal of surplus wool, not only in the great markets, but in the 'hands of growers. Moreover,manufacturers are not keen on buying, as they find difficulty-in selling. These, experiences are common to England, the Continent, America, and Japan. One. would think that with the universal need for economy cheaper classes , of wool would be more in demand, but that is not so. Fashion, still prevails over economy, and-that accounts, for the otherwise strange fact that crossbred wools ai-e suffering most in the markets.