WOOL WEALTH

Greymouth Evening Star, 30 August 1934, Page 7

WOOL WEALTH

AUSTRALIAN ESTIMATES. [by CABLE —PRESS ASSN. —COPYRIGHT.] SYDNEY, August 29. Addressing shareholders at the annual meeting of Winchcombe Carsons Ltd., the Chairman, Mr Harold Bell, said the financial and political outlook was so uncertain that nobody intimately concerned with trade could give a reliable guide to wool values this season. However, statistically the position was very sound. The world was growing about 800,000 fewer bales of wool than formerly, and if the law of. supply and demand functioned normally, prices would be higher’ than they were to-day. Last season, Australia’s wool cheque was compared with £36.000,000 in 1932-33. This season he expected a clip aggregating 3,146,000 bales, which would be an increase of 150,000 bales above the total of last year. In other words, Australia had an increase, w’ith the addition of its 150,000 bales carry-ovqr, of about 300,000 bales to the market. Thus, if the basis of prices now ruling were maintained, Australia’s wool cheque should be in the neighbourhood of £42,000,000, while every penny rise would mean an additional 25/per bale.

BRISBANE SALES. BRISBANE, August 30. The w'ool sales were continued. Values remained firm on Monday’s levels. The demand was strong and good clearances were effected. Top prices were: Greasy 16itd pence, scoured 25<d. LESS FRENCH IMPORTS. LONDON, August 29. The “News-Chronicle” says:—Following the reduced offerings of wool at the next Australian sales, Bradford tops moved up slightly. France, not Germany, was responsible for a reduction in retained imports by the principal, consuming countries. She imported 120 million pounds less in the first half of 1934 than in the first half of 1933.