STEADY ON THE PEAK.

Manawatu Times, Volume XLVIII, Issue 3596, 31 March 1924, Page 5

STEADY ON THE PEAK.

LONDON WOOL SALES CLOSE STRONGLY. SPINNERS ACCEPTING BIG BUSINESS. , [By Electric Cable —Copyright] [Aust. nnd N'.Z. Cable Association.] (Received Sunday, 11.5 p.m.) LONDON, March. 29. The wool sales are drawing to a close without a sign of weakness prices for both Merinos and crossbreds were fully maintained. Crossbreds were specially strong, thanks chiefly to the active Home demand, which fully compensated for the lack of American biddings, which were noticeably absent. Regarding the wool textile industry i the “ Economist's ” Bradford correI spondent writes; “It is unforunate i that little business can be done hi j Merino tops yarns. Prices are main- | tained by the strength of the raw ma--1 terial position, but there is a marked | absence of activity, as users cannot sell at prices based on the coat of wool In the crossbred section, however, there is nice steady business passing all the lime, and medium and low tops show a hardening tendency. Coni sumption is now on a large scale, and as the spinners are well booked up several months ahead there is little reason to fear a setback. It is obviously a question of price in marketing cloth and the wholesale fabric buyers appear to have made up their minds not to operate at all freely on current quotations. For finer fabrics, the dei,i nd still favours cheaper goods, and woollens are more sought after than worsteds.”