DOMINION WOOL CLIPS

Greymouth Evening Star, 17 October 1939, Page 5

DOMINION WOOL CLIPS

PRICES REGARDED AS LOW. [by CABLE —PRESS ASSN. —COPYRIGHT.] LONDON, October 15. The price at which the Government has acquired the Australian and New Zealand wool clips was a complete surprise to Bradford, where rumours recently led traders to expect a higher figure. Mr. Dudley Ackroyd, former president of the British Wool Federation, however, said that the prices fixed were on a reasonable basis, and he though the reason for it was probably the agreement to share in profits from any resale. Mr. Douglas Hamilton, former president of the Bradford Chamber of Commerce, considers that the Government should be congratulated on securing the clips so reasonably. The prices were much lower than anyone in Bradford expected. “I should not be surprised if some provision were made for increases in certain contingencies, he added. BRADFORD PURCHASES LONDON. October 13. The Bradford Wool Control is buying substantial weights of clothing and combing wools and crossbred tops at prices adjustable when the new minimum scale is issued. Civilian trade in tops is negligible. Yarns are selling moderately well. It is estimated that Merino tops will cost sixpence per pound more, under the Australian clip purchase, and crossbreds threepence to fourpence. Export, yarn licenses are now being issued freely.