FREE WOOL MARKET.

Rangitikei Advocate and Manawatu Argus, Volume XLV, Issue 12100, 8 July 1920, Page 8

FREE WOOL MARKET.

United Press Association—By Electric Telegraph—Copyright.

Received July 8, noon / London, July 6 News from Australia that the wool-growers will be accorded a free market for the sale of, the new clip is well received by the wool trade circles where it is believed that better prices will be realisable than are possible in Australia where the at. tendance of buyers is more restricted aud the competition iJ less keen. It is not yet decided whether the new wool consigned to London for sale will be sold in competition with unsold wool which the Government has already purchased. It is believed this could be adjusted with iGovernment probably before the Australian sales commence in October.

An arrangement will be made in conjunction with the British Treasury for payment of substantial bonuses to growers on Imperial wool account. Mr Goldfinch announces that the monthly Loudon auctions will be continued, the quantities being fixed according to market requirements. Mr Goldfinch anticipates that the profits on Australian wool subsequent to 31st March, 1919, will be very much greater than the large profit available for division, even allowing for the pbasioility of a considerable decline, Mr Goldfinch adds that this does not apply eqftally to New Zealand wool, a considerable portion of which consists of low medium crossbreds which are cheaper to-day than in 1918, and he says it will be difficult to forecast" the liquidation of wool accounts if the sales proceed uninterruptedly. Merinos and fine crossbreds will be sold out at the end of 1920, but the surplus of low and medium crossbreds carbonising will possibly be sold gradually throughout 192^