WOOL MARKET.

Manawatu Standard, Volume LX, Issue 120, 19 April 1940, Page 10

WOOL MARKET.

WARTIME BUSINESS. Appraisements of wool in ' Sydney lor the season to date total 1,234,711 bales, an increase of 98,965 bales compared with the .quantity sold during the full twelve months of the preceding season. The value of the wool appraised in Sydney to dale at the contract price is approximately £20,990,087. Last seasonls total sales realised £16,077,537. Improved values under the scheme and larger production are both responsible for the higher monetary returns. The greatest quantity over sold in a Sydney season was 1,298,708 bales, in 1932-33. This season’s total is certain to exceed that record. Cable reports state that neutral countries are blending artificial fibres with wool in larger quantities of their textiles because they are unable to obtain sufficient supplies of the sheep’s staple. That development is regrettable from the standpoint of growers, but the British Wool Control has a most difficult task in allocating supplies to neutral nations. The objects of (he British Government’s acquisition of the Australian and New Zealand clips arc to provide supplies for the successful conduct of the war and to prevent consignments reaching enemy hands. Failure to accomplish the latler objective would defeat one of the purposes of the scheme. The position of the wool, top, yarn and fabric industry of Franco is in marked contrast to its situation during the Great War from 1914 to 1918. The German Army overran northern Franco in 1914, capturing large stocks of raw material and doing extensive damage to the mills. So far in this war the mills are untouched and havo been able to work actively.