WOOL AND GOLD

New Zealand Times, Volume XLVI, Issue 10632, 3 July 1920, Page 7

WOOL AND GOLD

THE MYSTERIOUS DEAL

YORKSHIRE FIRMS SELL TO GERMANY. ENTERPRISING MILLIONAIRE.. By Telegraph—Press Assn. —Copyright Australian, and N.Z. Cable Association. (Received July 2, 10.65 p.m.) LONDON. July 1. A well-informed Anglo-Australian, giving his view on the German wool deal, states that it xtrobably represents a characteristic deal ;on the part of four or five Yorkshire firms, who for several years were associated financially with largo 'transactions. - . They include a millionaire who recently attracted much attention by big deals in tho ' wool trade and war material. The millionaire owned two woollen mills in Germany before the war. He jand some financial associates recently returned from Germany. There is no reason to believe that ' any single deal in wool amounted iofiour millions sterling, but it is well known that these firms have been largely buying between auctions for , some months. Apparently they have now decided to send tho accumulated.' stock of raw material to Continental factories. In addition to realising extra profit by utilising the eichangca and industrial conditions abroad they will have the enormous advantage oh getting early delivery of manufactured and semi-riaanufactured goods months before the people who already booked orders with fully-occupied English factories. The speedy delivery will confer a special advantage on the falling market.