law Wool Stocks Dangerously Short
(Rec. 11 a.m.) NEW YORK. August 29. Stocks of raw wool which last year were a considerable glut on world markets are now termed dangerously short, says the Journal of Commerce. It points out that while in 1945 it was gloomily prediced that the British Empire Joint Organisation stocks would last fully 13 years, actually they had dropped 50 per cent by last June. The prime reasons for the rapid stock liquidation were the unprecedented demand from the United States and the rapid revival of the Continental textile industry.
It is now predicted that the British Joint Organisation stocks will be dissipated in two or three years while United States stocks should be all gone in another year.
Therefore the present firm market is likely to continue unless there is a worldwide economic recession.
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Northern Advocate, 30 August 1947, Page 4
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139law Wool Stocks Dangerously Short Northern Advocate, 30 August 1947, Page 4
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