RECORD BENCH OF BUYERS

Timaru Herald, Volume CXLII, Issue 20511, 1 September 1936, Page 7

RECORD BENCH OF BUYERS

OPENING OF SYDNEY WOOL SALES

ADVANCES IN SELLERS FAVOUR

JAPANESE BUYERS NOT OPERATING

United Presf Association—Bv EJactrlc Telegraph —Copyright

(Received August 31, 10.30 p.tn.) SYDNEY, August 31

The inaugural sales of the 1936-1937 wool selling season were attendee today by a record number of buyers. Japanese buyers were present, but did not operate. The catalogues embraced a typical selection of the new season’s clip, chiefly from western and northwestern districts and the Riverina. Western wools were well grown, and more robust than last year, while north-western wool generally reflected the drought conditions, being somewhat thinly grown and lacking in length. Riverina wools were finer, but hardly as well grown. Interest in the sales was exceptionally widespread. Compared with the closing rates of last season in June, the best descriptions were 5 to 7i per cent. higher. Average to faulty descriptions were 71 to 10 per cent, higher. By comparison with last year's opening sales, best descriptions were par to 5 per cent, higher. Average sorts were at par, while inferior were 5 per cent, lower.

Competition came mainly from Yorkshire and Germany.

Greasy Merino fleece sold to 20Jd per lb. for ten bales from Moree. French, Belgian and Swiss buyers also operated. If the excellent prices recorded today continue, it is expected that the Commonwealth wool cheque will be enhanced by £2,000,000.

IS JAPAN BLUFFING?

EARLY SETTLEMENT OF DISPUTE ANTICIPATED

United Press Association—By Electric Telegraph Copyright (Received September 1, 12.19 a.m.) SYDNEY, August 31. A report was received from Canberra to-night that the trade negotiations between Sir Stephen Gullett and Mr Matsu Murai have reached a stage where a basis of settlement is likely to be announced at any moment. Details of the settlement have already been cabled to Tokio for approval.

NEW TYPES OF ARTIFICIAL WOOL CLAIMS OF GERMAN SCIENCE United Press Association—By Electric Telegraph -Copyright LONDON, August 30. The Leipzig correspondent of “The Telegraph” says that new types of artificial wool, made from cellulose, the products of the German Dye Trust, will be shown for the first time at the autumn fair. Whereas the existing artificial wools can be used only when mixed with a large proportion of sheep’s wool,, Lanusa, one of the new varieties, can be used alone for men’s suits. This, and the variety known as Vistra XT, are claimed to equal wool in most respects, and will be turned out by seven State-assisted factories by the end of the year. Chemists claim that the new wool is 30 per cent, cheaper than pure wool, but the latter in Germany is 30 to 40 per cent, above world market prices.