WOOL SITUATION

Evening Post, Volume CXVII, Issue 75, 29 March 1934, Page 12

WOOL SITUATION

GERMAN WITHDRAWAL

United Press Association—Bj Electric Tel»graph—Copyright ■ (Received March 29, 11.30 a.m.) LONDON, March 28. The Imperial Economic Committee's wool report states that in view of Germany's stocks of wool being now heavier than for 1932 the prohibition of imports is unlikely. to affect seriously the activity in the wool textile industry. Germany's export of tops, yarns, and tissues is likely to be reduced during the prohibition and for some time afterwards, thus permitting other countries exporting them, notably the United Kingdom, France, Belgium, and Italy, to reap some benefit. In these circumstances, there: fore, the absence of German buyers at the next London sales is not expected to materially affect the demand. LONDON, March 28. The "Financial Times" states that the postponement of the.date of the wool, sale is due to the situation in Germany. The Department of Overseas Trade was informed from the British Embassy in Berlin that the restrictions are temporary, pending arrangements for internal contol. ' Current contracts are not affected.

Dalgety and Co., Ltd., have received the following cable message, dated March 27, from their head office, London: —"In view of German ban on purchases of wool abroad pending quota arrangements, opening next series wool sales postponed to May 1. Closing date for arrivals,-April 16." : . '