AMERICAN INTEREST

Gisborne Herald, Volume LXXIII, Issue 22184, 21 November 1946, Page 5

AMERICAN INTEREST

NEW ZEALAND WOOLS NEW YORK. Nov. ID. The Philadelphia correspondent of the textile journal. Daily News record, says that although the wool market is fairly stagnant at present, market sources find a stronger interest in foreign wools which lately have been largely overlooked owing to the high prices. Several sections of (he market are showing an interest in New Zealand wools, particularly crossbreds, with attention also focussed on choice Cape wools.

Wool men stress that medium crossbred wools can be obtained on foreign markets at considerably below the present domestic basis for the equivalents, for instance, of New Zealand quarterblood wools.

Dealers, despite the current price levels, indicate that manv mills would still rather pay five cents per pound more to obtain wools, such as Australian choice lines. Leading sources point out that Bradford is preparing to place more wool on the market and they believe that Britain is trying to hold down the soaring prices in the world markets. The Daily Sun columnist, Elmore Phillott. makes the charge that Australia and New Zealand are parties, with Britain and the United States, in the price-sustaining combine to keep wool off the world markets. He says that raw woo] production is greater than ever before yet the price is almost double tlie pre-war figure.