WOOL INDUSTRY

New Zealand Herald, Volume LXXV, Issue 23200, 21 November 1938, Page 13

WOOL INDUSTRY

INDIRECT BENEFIT PROSPECTS IN DOMINION AMERICAN PURCHASES , *Anv benefit to the New Zealand wool industry from the British and American trade agreement is likely to be indirectly felt, according to the opinion of rren interested in the industry in Auckland.

Mr. B. J. Marquet, chairman of the Auckland Woolbrokers' Association, pointed out that apparently there was no change in the tariff on raw wool. From the concessions announced on woollen fabrics, hosiery and other piece-goods, it was reasonable to suppose that trade in these between the two countries would be stimulated, a condition which would in turn be felt in the purchasing of raw wool. Bradford was an enormous exporter of tops, and no doubt the agreement would improve this trade. At one time America was quite a heavy purchaser of wool on the New Zealand market, continued Mr. Marquet. At first it was inclined to take only the poorer quality wool, but a trade in the finer wools had been developed. Last year there was a big drop in the trade, however, purchases being practically confined to carpet wool? this embracing coarse qualities ranging from 36's to 40s'. It was now hoped that America would return to the New Zealand market and buy qualities from .'36's to 08's as previously. It was disclosed from other inquiries that even before the trade agreement was announced there was sn impression that America would direct attention this season to finer wools on the Dominion market.. It was felt that America abstained last season from purchasing anything but carpet wools because of economic difficulties, and the same reasons did not now exist as acutely as before. Bradford had sutfprpd a bis loss in her trade in tops through the war in China, for that country was normally a big customer, so that an increase in that trade with America as a result of the agreement Avas very much to be desired. Jn. any cusg, llio trfulc pact might very well improve economic conditions in America through tlio freer flow of goods and permit of American buying of wool. in the Dominion with something of the old zest.