DROP IN PRICES.

Star (Christchurch), Issue 19968, 7 June 1920, Page 7

DROP IN PRICES.

REDUCTIONS IN ENGLAND. DECLINE IN WOOL PRICES. Dy le'ograph—Tress Association—Copyright, United Service. (Received June 7, 5.40 a.m.) LONDON, June 5. The Board of Trade has not yet collated the latest prices in tho various trades, but it states that undoubtedly substantial reductions arc risible in a number of directions-, owing to tho removal of control reintroducing competition, the deterrent action of the Profiteering Act, ami the public's determination not io purchase until * prices have been lowered. J.he hanks' refusals of further advances are making firms anxious to unload- stocks accumulated in anticipation of further rises. Drapery, grocery and boot .prices have deolinod by oto 10 per cent. There ip a movement among, some large houses to convince manufacturers that theninterests coincide, and the necessity for gradually reducing prices in order to avoid a crash. The “ Yorkshire Observer,” commenting on the decline in wool prices, warns hesitant, overseas buyers of manufaolured goods that Bradford knows bow to prevent a disastrous slump though, at the same time, desiring a- lower level of prices. The “Observer” adds:— M i'liey should realise that it is always r.’ittiir. the power of vendors of colonial uool to apply a brake to manufacturers. German yammakers have begun invasion of the English market, and itro underselling local firms. Tho Germans use tops combed in France, where the plants are producing at full *peed and cheaply.”