WOOL EXCHANGE.
ESTABLISHED IN AMERICA. United Press Association—By Electrlo Telegraph—Copyright (Received April 9, 8.30 p.m.) NEW YORK, April 8. The first Wool Exchange in America will be established on May 18, when trading in contracts for wool tops will begin in New York Cotton Exchange. The unit of trading will be 50001 b. and prices will be in multiples of 1,000,0001 b. Deliveries will be made at Boston, at a basis price, and at other points, subject to freight differentials. The announcement said that the purpose of exchange is to provide hedging facility for the growers, wool merchants, top dealers, spinners, and weavers of this country, as well as abroad.
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Bibliographic details
Timaru Herald, Volume CXXXIV, Issue 18848, 10 April 1931, Page 9
Word Count
110WOOL EXCHANGE. Timaru Herald, Volume CXXXIV, Issue 18848, 10 April 1931, Page 9
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