WOOL TRADE CONDITIONS.

Otago Witness, Issue 3489, 25 January 1921, Page 18

WOOL TRADE CONDITIONS.

THE REALISATION SCHEME. LONDON, January 20The conference of the Wool Federation and the directors of the Realisation Association had a long and cordial discussion. It was agreed that unless a decided change in the market occurs meantime the selling limits at the Government auctions in February will be fixed in conformity with this week’s average of the selling prices of free Australian wool. Sir Arthur Goldfinch (Director-general Of Raw Materials) agreed to the federation’s suggestion to regulate the quantity offered from month to month according to the amount which the trade could ab eorb. Sir Arthur Goldfinch explained that tlu> association had not arrived at any

understanding with the owners of the new clip; therefore it could not state the line of action that would be taken, but the ruling prices for medium and low crossbred carbonising wools were decidedly below the cost of production, and the Australian wool-growing industry must use every effort to improve them. PERU VIAL WOOL. LONDON, January 17. The Leeds University experts, reporting on samples of wool collected in Peru, declare that it is superior to Australian, Cape Colony, or Argentine wools. They prophesy that if the scheme for the improvement of the indigenous Peruvian sheep is reasonably successful there is every likelihood that in 10 years’ time Peru will provide the finest carding an 1 combing wools. The principal types m

Peru are indigenous merinos dating from the sixteenth century. The improved merinos will be based on the present Soutn , American type and Romney Marshes. WOOL FOR GERMANY. CAPETOWN, January 19. Business interests in Capetown, representing the shareholders in the late diamond companies in German South-west Africa, have secured the support of ! shareholders representing £750.000 to inj vest the moneys due in wool for export to Germany. The Government’s consent will be necessary, as the proclamation provides for the payment of thqge moneys in Government bonds. LARGE WOOL PURCHASE. LONDON, January 21. It is reported that tho British Govern-

) ment has purchased from the South African Government 100,000 bales of wool for £2,000,000, which is to be applied to the reduction of South Africa’s debt.