TRADE IN WOOL

Manawatu Standard, Volume LVII, Issue 50, 29 January 1937, Page 7

TRADE IN WOOL

UNFAVOURABLE FACTORS. APPEAL TO MANUFACTURERS. FULFILMENT OF ORDERS. . (United Press Association —By Electric Telegraph.—Copyright.) Received January 29, 10.50 a.m. LONDON, Ja.n. 28. Messrs , H. Dawson, Sons and Coy., Ltd., commenting on the wool outlook, say that slightly unfavourable factors appear to be developing. Ihere are signs of dearer money and the balance ot trade will be unfavourable and tend to become worse.

The Government is appealing to manufacturers busy with home ordeis to give preference to export requirements. Ihere is no apparent accumulation of wool in European countries, and a keen potential demand exists in Italy and Germany. WOOL RESEARCH. CONFERENCE CONCLUSIONS. Per Press Association. WELLIN GTON, Jan .29. Mr H. M. Christie, M.P., chairman of the New Zealand delegation to the wool conference at Canberra, returned to-day. Mr Christie said the conference agreed to establish an international publicity and research fund to ho administered jointly by Australia, New Zealand and South Africa. Hie conference achieved much of a practica nature and the fund created would be devoted to research and publicity throughout the world The council would contribute to the fund on the basis of the average quantity <?f wool exported, calculated over a period o five years, subject to confirmation on the preliminary figures submitted, ine quota of contributions for the cnsning vear would be Australia 60.0 per cent., South Africa 20.5, New Zealand 19. • .*n “It is hoped the secretariat wi start work by the beginning of July. At present wool prices are on a satisfactory basis and it should be stressed that the intention of the research and publicity campaign is not to attempt to raise prices above the economic level. Such a course would defeat its own ends, and this fact is thoroughly appreciated by all concerned. However the conference were convinced that the present level of prices is not based on a very secure foundation and that well-considered action along the lines proposed is necessary to make the future of wool secure,” Mr Gnristie said.

BRADFORD TOPS MARKET. BUYERS SATISFIED. Received Junuary 29, 1 p.m. LONDON, Jan. 28. In the Bradford tops market the quotations arc nominal. Buyers’ requirements are temporarily satisfied . and business is small despite the lower prices. The consumption is good. Latest quotations compare with those previously cabled as follow:

7 14 21 28 'b . lb lb lb Merino— il. d. d. d. 70’s .. 42 42 5* 39Ji .. 40 40 39 3 /<■> 60's .. 69 69 38 6bi Crossbreds — .. 34 34 33 i 33 56’s 30 60 29i 29 50’s ’ _ 27 26 4 24^ 46’s — 24 23^ 44’s .. — — 24 25),