MILD OPTIMISM FOR WOOL

Taranaki Daily News, 11 August 1930, Page 11

MILD OPTIMISM FOR WOOL

'■ 1 *• SIGNS OF ENCOURAGEMENT REDUCTION OF EUROPEAN STOCKS. ■SUBSTANTIAL BUYING EXPECTED. By Telegraph—Press Assn. —Copyright. Rec, 5.5 p.m. London, Aug. 9. Most writers on wool appear to find signs of encouragement in the outlook. Their comments are couched in a tone of mild optimism. The Economist’s correspondent Bays one gratifying feature is the gradual reduction of stock® of tops in Germany eince the beginning of the year. The decline at the end of June as compared with January was over 1,000,0001 b and the stocks of 4,404,000 kilos were only about half the quantity held in June, 1929. It is also expected when the June figures of stocks in France, Italy and Belgium are available, they will be comider&bly less than a year ago, though slightly larger at the end of May.

This points to increased consumption of woo] and tops in Europe during the past twelve months,, which will pave the way for substantial buying when the Australian selling season commences. If Continental buyers can operate as freely as at last London sales and the home trade becomes more active, the standing of raw material values will he very fully assured.