OUTLOOK FOR WOOL

Nelson Evening Mail, Volume LXVI, 23 April 1934, Page 5

OUTLOOK FOR WOOL

UNCERTAINTY IN GERMANY STATE CONTROL OF IMPORTS (United Press Association— By Electric Telegraph—Copyright) LONDON, 20th April. The “Yorkshire Observer” says that private advices from Germany - state that the embargo on wool nurchases will be continued until 15tli j\lay for (lie completion of arrangements for State control. This'is naturally raising the conjecture whether • Germany will be represented' at tlie London'sales, but a letter from .a big top-making firm in Germany says that there is a lively demand on German spinners for stocks of wool tops. A reduction in stocks will force Germany to buy in the world markets as scon as she* lias assembled enough foreign currency, but control .will cheek speculation and spread, imports evenly over different months.

Another reliable source sitys thajh. ;;1 Germany’s wool imports will be sub- ejected to a two per cent, duty.- ■’ The German position makes the Lon- g don outlook puzzling, but brokers- are - well prepared for all eventualities. The.'"' quantity catalogued will not be large. The sales are arranged to cover two, weeks and provision is made to. accofii- ; >r niodato offerings to the demand in. order to prevent a seriously, detrimeri- 7, Nil effect on values or injury to wool owners’ interests. There is a .possibil- -- ity of a'demand from Holland oh Ger-. man accounts. <- • “