WOOL TOBE IMPROVING

Taranaki Daily News, 19 April 1932, Page 7

WOOL TOBE IMPROVING

YORKSHIRE MORE ACTIVE MARKED REVIVAL EXPECTED CURRENCY RESTRICTIONS TARIFF. DECISION AWAITED By Telegraph—Press Assn. —Copyright. London, April 16.

Bradford textile manufacturers fully confirm Mr. Walter Runciman’s statement that in the West Riding of Yorkshire there had been greater activity in the woollen mills than for years. While there has been no trade boom the position encourages manufacturers to anticipate a marked revival in the near future.

The export trade is hindered by currency restrictions in many European and South American countries, but though the turnover has still a long way to go to normality the returns are showing continued improvement. The tops and yarn trade is considerably 'better than in 1931. The spinning trade shows a marked improvement owing to the exclusion of foreign yarns, the only obstacle to a complete recovery being the instability of wool prices, which checks forward buying. Mr. W. P. Devereaux, representative of the Australian Woolgrowers’ Council, reports that the general position is unchanged. British manufacturers are awaiting the announcement next week of the intentions of the Government in regard to duties on wool textiles. Continental manufacturers are watching the position closely, and pending a decision all are disinclined to enter into speculative commitments. The decline in values at the opening sales at London was largely anticipated. Since the opening Continental competition has become a little more apparent, but insufficient to influence values. Bradford reports a very quiet market.