SYDNEY WOOL SALES.

Pahiatua Herald, Volume XLIII, Issue 13284, 16 June 1936, Page 5

SYDNEY WOOL SALES.

JAPS DIO NOT BID. ALL EYES ON BRISBANE. United Press Assn.—By Electric T eleg ra ph—Co py right. SYDNEY, June 15. The wool sales were resumed tod&y, v 130 bales being offered and 5130 sold, also 3584 privately. There was good competition for all wellgrown and sound descriptions but values were 5 per cent, below the May closing rates. Average wools were 7 to 10 per cent, lower, while dusty and. inferior lines were also low Skirtings were 10 per cent and at times 12£ per cent, lower. Crutchings and locks sold remarkably well 'ai d showed little change. The competition was mainly from the Continental and Yorkshire sections and local manufacturers. The Japanese did not bid The present is only the clearingup series of the sales. The Japanese were present and followed the market as keenly as though they were buying. They would have taken a large proportion of to-dav s offerings which suited their requirements, but having already bought heavily this season they are expected to refrain from buying for the present. More importance is attached to the Japanese attitude at the Brisbane sales next week when the new season’s wools will be offering. CANBERRA, June 15. Sir Harry Gullett, Minister in charge of Trade Treaties, stated today that trade negotiations had been re-opened with Japan through Mr Murai, Consul-General m Sydney, and it is expected immediate retaliation by Japan against the re-cently-imposed textile duties will be avoided. Sir Harry Gullett pointed out that Japan was awakening to the fact that Australia’s new tariff was not nearly so harmful as anticipated and there was now a much better understanding as a result of two-way communications since the publication of the schedule. TOXIO, June 15. It is estimated that the Japanese mills’ present stocks of merino aggregate 400,000 bales which will be sufficient until October 31st or if manufacturing is curtailed 30 per cent, until December 31st.