£135,000,000 FOR WOOL
EXPENDITURE BY BRITAIN t, LONDON. Aug. 0. It is authoritatively stated that the Ministry of Supply has so far spent £135,000.000 .in purchases of wool from the Dominions wand colonies. J. The Philadelphia correspondent of the New Jr York Journal of Commerce attributes, recent " well-stabilised wool prices in the United States largely to the pegged prices of Aus”t rail an, New Zealand and Cape wools. ;> Domestic manufacturers, he says, feel that ersueh stabilised price levels ahead in such im'X portant markets act as a stabiliser of prices "of domestic wool and woollen goods. If domestic prices got,out of line with pegged ■ prices of British wools, it is believed that domestic manufacturers would turn more to Australian wool. Although the 19-11 clip is the largest on record, 400,000.0001 b., the 111 annual domestic consumption at present is «-• 545,000,0001 b. "While runaway prices are not looked for this year.” the correspondent adds, “there are sound reasons for placing advance orders as far ahead- as producers will accept them.”
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Bibliographic details
Gisborne Herald, Volume LXVIII, Issue 20636, 16 August 1941, Page 2
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169£135,000,000 FOR WOOL Gisborne Herald, Volume LXVIII, Issue 20636, 16 August 1941, Page 2
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