FRENCH BOYCOTT UNLIKELY

Southland Times, Issue 23793, 15 April 1939, Page 8

FRENCH BOYCOTT UNLIKELY

IMMEDIATE ACTION NOT INTENDED FINAL DUNEDIN SALE ON WEDNESDAY (Special to The Times) DUNEDIN, April 14. Unusual uncertainty surrounds the fourth and final wool sale of the 193839 selling season in Dunedin on Wednesday at which a total of 23,195 bales will be offered. Rumours of a French boycott operating as hom the Christchurch sale disturbed buyers and brokers alike until assurances were given by the operators chiefly concerned that no such action was contemplated in the meantime. On top of this came a definite easing of values for fine wools and a sharp decline in the ruling rates for necks, pieces and bellies at today’s auction in Christchurch. The question of the cause of this latest development will no doubt be exercising the minds of vendors at the moment, but it may be suggested that the international situation has had a far greater effect on the local market than any possible curtailment of buying by French operators. The descriptions of wool which showed the greatest decline in Christchurch have admittedly been too dear for a considerable time and it was only to be expected that unfavourable developments in Europe would react to the detriment of such wools. The types of wool to be offered here on Wednesday should meet with a generally good demand and it is expected that most fleece will be firm with probably an easier market for coarser sorts and bellies, necks and pieces. The greater proportion of the offering will be crossbred although the catalogues will also include a good percentage of halfbred and other fine wools. ... The quality, on the whole, is well up to the standard of recent sales but some of the wools are not as attractive as they might be. Most of the crossbreds on offer comprise early shorn clips which have been held in store by growers who expected a rise in the market. These are, for the most part, well-conditioned wools with no lack of bloom and are well up to the standard of previous' offerings this season. A few of these crossbred offerings are late shorn clips which show some discolouration as a result of the unfavourable season. The earlier shorn halfbreds, like the crossbreds, show plenty of quality and should,prove attractive to buyers, but here again late-shorn clips are less attractive. and some of them are on the seedy side.

STOPPAGE OF FRENCH IMPORTS REASON GIVEN BY DEALER ROUBAIX, April 13. M. Segard, president of the Wool Dealers’ Association of the Roubaix and Tourcoing districts, issued a statement that the French wool buyers’ threat to boycott New Zealand was due to a decision to prohibit the importation of luxury goods from France in order to protect the exchange value of the currency. “Our commercial balance with . New Zealand has not been the brightest,” said M. Segard. “It became extremely adverse when New Zealand ceased to purchase scents, silks, cognacs, and so on.” FINAL AUCKLAND WOOL CHEQUES TOTAL PAYMENT OF MORE THAN £1,000,000 (United Press Association) AUCKLAND, April 14. Distribution has been made of the final Auckland wool cheques for the season. The proceeds of the third and final Auckland sale held on March 27 and 28 totalled £428,174. The aggregate payments from the three auctions held this season total £1,061,743, this being the third year in succession that the realization has exceeded the million mark.

The final figures issued by the Auckland Woolbrokers’ Association show that at the March auction 12,295,2921 b of wool was sold, compared with 11,347,0431 b sold for £432,521 at the fixture in March 1938. The clearance at the recent sale was 98 per cent.