CHEERFUL SIGNS

Northern Advocate, 3 November 1931, Page 5

CHEERFUL SIGNS

WOOL INDUSTRY. BETTER TIMES EMERGING. (Received 9 a.m.) ' LONDON, November 1. Mr Devereux, representative of the Australian Wool Council, reports that the results of the elections, as far as the wool trade is concerned, have been to confirm the anticipation that better times are ahead for the British woollen manufacturing - industry. A. confident, cheerful tone prevails in Yorkshire, where considerable activity exists and additional machinery is being brought into use. Although it eannot be said there is undue speculation, sound business is being done, and a confident outlook exists in regard to the future, with a view to possibilities of a tariff on manufactured goods. This outlook appears fully justified. On the Continent, however, feelings were somewhat mixed. Uncertainty, not to say alarm, which were the outcome of the English elections, have been allayed, and a greater feeling of confidence exists of a return to more stable economic world conditions, but the possibility of Great Britain imposing a tariff is naturally very disturbing to Continental wool manufacturers, to whom exports to Great Britain are an important feature. The firmness of the primary markets in Australia is reflected in all markets. Italy is reported to bo temporarily short of raw wool supplies and an active buyer for immediate needs. France is perturbed about tariff possibilities, but the tops market has been quite lively, with prices firmer. Business in noils is quite active. Tarns transactions are active but prices are unchanged. There is no improvement reported in Belgium fixtures, but the markets are fairly active, with minor fluctuations.