MARKET FOR WOOLLENS

New Zealand Herald, Volume LXXI, Issue 21765, 3 April 1934, Page 5

MARKET FOR WOOLLENS

OTHER COMPETING FIBRES GENERAL REVIVAL APPARENT EFFECT OF INCREASED PRICES "There has been a general revival in the textile trade apart from tho increased consumption of wool," states the latest review of Wiiicheonibe, Carson, Limited, Australia. "Wool has advanced in value not only because suplilies have decreased, bul, also owing to the larger volume of business experienced in most manufactures. !!' artificial silk had not been manulaetured wool would lie dearer than it is to-day. The hosiery, upholstery and women's fabric trades would be catered for by the sheep's staple, cotton and natural silk. But against that loss must be set the great increase in the use of knitted woollen apparel for swimming costumes, sports wear, and similar goods, which has extended to such a marked degree of late years. There is littlelikelihood of artificial silk entering that field. A swimming costume of it would certainly offend the censor, quite apart from its chilliness and lack of wearing capacity.

The weekly wool letter of the Sydney Morning Herald states that, considerable difficulty has been experienced abroad in securing increased prices for woollen manufactures, in sympathy with the increased cost of raw material. Tho remark is often passed that tho cost of wool has very small effect on the price of a suit of clothes, but it is an influence, although perhaps not, to the degree which some retailers overseas would havo the public believe. In the past year, mill prices for many classes of fabrics in Yorkshire havo been advanced 20 per cent to 30 per cent. The cost in making the article has not risen, the raw material being the forcing factor. Many merchants in the early part of this season would not pay increased prices for their requirements, hoping that wool would cheapen. They since had cause to regret their failure to purchase, as the advaneo continued. In many cases in which suits and other goods havo boon sold at practically standard prices, retailers have retained those selling figures by substituting cloths of lower quality. A limit, however, exists to that action. It is reported that English woollen merchants catering for the medium tailoring trade have sent out spring patterns with prices in some eases showing a rise of 10 per cent compared with a year before, but in other instances the rise has been fully 20 per cent. Will trade keep moving freely at tho higher range of rates? The future of the woo! market depends largely upon the answer to that question. English tailors ffnd clothiers consider that business is likely to be better than a year ago. If events confirm that opinion and trade in 1934 shows expanding volume at higher prices, tho value of wool should at least bo sustained and may gradually show further appreciation.

AUSTRALIAN WINES FINDING NEW MARKETS TRADE WITH NEW ZEALAND [from nun OWN OOHRKSPONnKN'r] SYDNEY, March 29 With tlie growth of Empire trading sentiment, ami the fostering of tho Australian products by leading wino distributers in Great Britain, goodwill is steadily being built up by the Australian wine industry. However, there is keen disappointment that there should have been little increase in the sale of Australian wine in New Zealand. It is considered that Now Zealand should be one of the best markets for Australian wine, and those interested in the trade emphasise the need for an advertising campaign. Tho industry also has its eyes on the potential markets in the East and in tho United States. Tho export figures for the last 10 years reveal the extraordinary progress that lias been made, and those in closo touch with the industry regard it as a recognition of tho fact in Great Britain that the Australian product is infinitely superior to the cheap Portugal and Spanish red wines. In 1923 Australia's export of wines to Britain totalled only 991.."01 <;allons, valued at £217,312, but steady progress was reported in succeeding years, until in 1032-33 the figures were 3,092,014 gallons, valued at £788,761, Tho clearances' of Australian wine in England for t*e 11 months ended November, 1933, were 2,118,000 gallons, and Mr. C. \V. Simmonds, president of the Australian Wine Association, states that tho figures for December were 484.000 gallons, a.4 against 231.000 gallons for December of tho previous vear.

In 1932 Australia held second place to Port1112;:il in the list of countries of origin, both in regard to imports and clearances of wino in Great Britain. The figures for l!Kio are not available in Australia. Mr. Sinunonds takes an optimistic view of the future <>l the industry and stales lliat, considering the times,' there is little at which to cavil. The British people were very conservative, hut the Australian wines were gradually coining into their own. The excellent quality of the Australian product was conceded, and the demand of the general public for Australian wines was on the increase. NEW ZEALAND MONEY ABROAD Current dollar exchanges, da quoted by the New Zealand banks, arc as under: — ' r , ... 13 uvn is Soiling Unilrrl Stales .. -V-'O fi.oo Canada .. . • f».20 5.00 The cost in New Zealand curvvui'v of the pound sterling and of the principal foreign units, on the latest quotations, is as follows: Present Price Par S (1 R fl Aiirlrnliu, pound .. 90 O.nO 20 0.00 London. pomtrl .. .. 2t 11.W '2O 0.00 New York dollar . . tU 01 4 1.31 Montreal, dollar . .. t 11.01 f l.ai P»ri<t. franc . . . . " " '- !ls Berlin, mark . . .. 1 ll..'f> 0 11.71 C'oiienljngen. krone . . 1 I-lis I 1 ■ Yokohama, yen . . .. 1 ft.nfl 2 0./18 Those valuations represent the current rates at which the banks sell i drafts payable on demand

CUSTOMS EXCHANGE RATES Kat.es of exchange ruling at tho announced dates of departure ot tho vessels named are shown in tho following table. They are subject to confirmation by tho Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*: — f!olden Con?!, Canada, dollar* . . *.1.10 < rnlcien ('unit, Amcrici. dollars . . 'S.OS Sydney Main. Japan, yen .. .. 113-lijd Wniruna, America, dollars . . . . '.'>.o7 Wnirunn, '"nnndu, dollaiv . . . . ".">.13 Canadian Conqueror, Canada, dollars 5.10 City of Tokio, America, dollars .. f».Jn 1 Haurnki, America, dollarn . . 5.101