LONDON WOOL SALES

Pahiatua Herald, Volume XXXIII, Issue 9979, 9 July 1925, Page 3

LONDON WOOL SALES

MORE OPTIMISTIC OUTLOOK

Electric Telegraph—Press Association LONDON, July 4.

The opening of the wool sales next Tuesday is being awaited with most intense interest, for users are looking to London for reliable indications as to whether the price of wool has touched bottom. What the verdict will be nobody dares to forecast, but opinion both in London and Bradford seems to favour a more optimistic view of the outlook than was the case a lew weeks ago. and there is a pretty general impression that the sales will be well supported. Continental buyers are prepared to buy if the price suits them, and there is a possibility of some United States demand, as there lias been expansion of the wool and textile industry there lately. Discussing the situation, the •Yorkshire Post” says: “July should provide a. testing point. AYhetber it will do so sufficiently to satisfy consumers and restore such a measure of confidence as to revive the spirit of speculation depends on the manner ill which wool holders meet the market. “If they again withdraw wool and refuse to accept prices offered, users will remain uncertain whether or not the low-water mark has been reached, and will continue to cover only immediate requirements. “Most traders want to know the worst. Taking a low view, it will he bettor for the trade as a whole if 1 holders meet the market. Let us find a. basis for resumption of business on normal lines.