IMPERIAL WOOL STOCKS.

New Zealand Herald, Volume LVII, Issue 17623, 9 November 1920, Page 4

IMPERIAL WOOL STOCKS.

REDUCTION IN THREE MONTHS TOTAL OF 269,496 BALES. CONTINUED WEAK .MARKET POSITION NOT ENCOURAGING. [BT TELEGRAPH.— SPECIAL REPORTER.] WELLINGTON. Mcticay. A statement as to the amount of New Zealand and Australian wool owned bv the Imperial Government in the United Kingdom and elsewhere, afloat and is; Aus tralia and New Zealand was made in the House of Representatives to-dav b\ the Prime Minister, who had promised a few days earlier to cable to the H:;h Commissioner for information on the }-■::: Mr Massey said he had received a con,nr.irira tion from the Director Genera, of Materials, stating that trie stocks i_f Sew Zealand and Australian w,k>l held bv i.he Imperial Government on September 5C were as follows : new ZEALAND WOOL. ~ b,>.. Merino . . . . ,< 35s Crossbred combine, fir.e . . 7; X"0 Crossbred combing. rned:-..m i: , v937 Crossbred combine, low i4-.>."-s Crossbred clothing, fine . \,l9n Crossbred clothing, medium 10,^.1 Crossbred clothing, low .. - 'an Slip© .. . . .. .. ISO~>7 Scoured . ■ . . . . . . 14&.29 J. Total . . 76;.356 AUSTRALIAN WOOL R«'.e«. Merino combing . . . . f.s-;,^ Merino clothing .. . . lla.'M? Merino carb . . . . . . 93' >*o Crossbred combing, fine . . 3ii0.599 Crossbred combing. rned:i:m 2"i-.004 Crossbred combing, low . . 1)7 0-9 Crossbred clothing, fine . . 41.50b Crossbred clothing, medium <!,r97 Crossbred clothing, low . . CI .153.1 Crossbred carb, fine . . . . 7- 004 Crossbred carb, medium . . 70!*44 Crossbred carb. low . . . . 40.2*0 Total 1.570.5>3 Grind total . . . . 2,635,978 The following was a comparison of stocks held at June 50 and September 50. 1920: — June 30. Sept 30 „ . Bales. Bales. Merino .. .. 1.130.256 <U4 13« Crossbred .. 1,640.031 1571*617 Slle .. .. 135.187 150.2-27 Totals . . 2,905.474 2.tW35.97S During the three months the Mocks of Australian wool have been reduced by 178.555 bales, and those of New Zealand wool by 90.941 bales, the comparison being as follows: — J'it»» 30. Rep' to , , ~ Bales. K:,'«s Australian .. 2.049.177 1 87062° New Zealand . . 856,297 "765.'356 Mr. Masse? added that the DirectorGeneral of Raw Materials had been asked by cablegram if the closing value* obtained at the October London sales could be accepted as approximately Imperial Government reserves, and be 1. H replied as fob lows:"The continued weak market and especially low offers by Argentine and Australian sellers make" it impossible to expect low and medium grades of wool to sell at November auctions at prices equivalent to those realised in October. We are dointr our best to make the reduc tion as small as possible." " It is not a very good position." com mented Mr. Masse?. " That is the best that can be said about it." SALES COMMENCE TO-DAY. GOVERNMENT POLICY AWAITED. [bt telegraph.—PßESS ASSOCIATION'.J WELLINGTON. Monday In a cablegram dated November 6 tha High Gommissoner says :— " The London wool sales begin on Tuesday next, a settlement of the strike having been made. Feeling is better in Bradford this week, though the outlook is not brighter. The trade is waiting to know the policy to be adopted for the liquidation of Government stocks. They hope the reserves will be reduced.".