LATE COMMERCIAL

Poverty Bay Herald, Volume LIII, Issue 16492, 9 November 1927, Page 11

LATE COMMERCIAL

CROSSBRED WOOL SCAR Cl

According to a cable message published recently, Bradford reports crossbred wools scarce, none offering. This is particularly good • news for New Zealand wool-growers, especially those in the North Island, where the bulk of the Dominion’s crossbred wool is produced. Iho announcement makes it practically ceitain that at the sale at Wellington on November 14, crossbred wool will see an advance, but in the interests of all concerned it is to be hoped that the rise will not be so pronounced as to check business. Growers do not want a. repetition of the experiences of the first sale of the 1925-26 season. The wool position is somewhat extraordinary, and as one Bradford (correspondent remarked recently, “the remai'kable thing is that of all the wool which arrived in this country during the past season, very little of it new remains, and it speaks well for the absorptive capacity of the industry, as a whole, that practically all the. last Australian and New Zealand clips were not only sold when they first came on to the market-at the sources of supply, but have since almost entirely disappeared. The inherent strength of the position is that light stocks everywhere exist. It is stated that a good number of firms m Bradford were very industrious during Aiumst, seeking wool and finding none. The very fact of there being no stocks gs indicative of a strong position. Wool is in a strong position, and yet the conditions in Bradford are bad. It is stated that- if it were not for the activity in the South of Scotland, and the West of England, things would be very poor indeed. It is estimated that about 40 per cent, of the looms in the Bradford district are standing idle. There is also much spinning machinery either partly or entirely without work, and so poor is the dress goods trade that the manufacturers were asking for protection under the Safeguarding of Industries Act. For. Ornately” the wool-grower is not dependent entirely upon Bradford, for just now the Continent, and particularly Germany, is a keen buyer.—Dominion.