MARKETING OF WOOL
AMERICAN DEPARTURE
EXCHANGE TO BE OPENED
NEW YORK, April 9.
The first wool exchange in America will be established on May 18, when trading iri .contracts tor wool tops will begin in the New York cotton exchange. 'The unit of trading will be £SCO9, and prices will he in the multiple of £lO. £IOO, and £IOOO. Deliveries will he made at Boston at a basic price, and at other points subject to freight differences.
Tito announcement said tlie purpose of the exchange is to provide hedging facility for growers, wool merchants, dealers, spinners and weavers of this country, as well as abroad.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17439, 10 April 1931, Page 7
Word Count
105MARKETING OF WOOL Poverty Bay Herald, Volume LV, Issue 17439, 10 April 1931, Page 7
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