SYDNEY WOOL SALES.

Star (Christchurch), Volume LXVI, Issue 20237, 22 February 1934, Page 1

SYDNEY WOOL SALES.

Continent and Japan Operate. MARKET UNCHANGED. United Press Assn.—By Electric T el egraph—Copy r Jgh t. SYDNEY, February 21. At the wool sales to-day 12,106 bales were offered and 10,073 sold, while 2162 were sold privately. The market was unchanged, competition coming principally from the Continent and Japan with moderate Yorkshire support. Greasy merino sold up to 38§d. Dunedin Returns. Per Press Association. DUNEDIN, February 21. Over £1,000,000 has now been paid over in respect of the two wool sales held in Dunedin during the current season. At the second sale, on February 5. a total of 29,367 bales was disposed of for a return of £621,534 18s Id, receipts from the previous sale of 29,294 bales being £561,734 11s 4d. The average price per lb of the wool sold at the last sail showed an increase on the former one, being 15.15 d, compared with 13.89 d, while per bale the average at the second sale was £2l 3s 3d, as against £l9 13s 6d in December. DEPRESSION SURVIVED. Woolgro wers Congratulated on New Prosperity. United Press Assn.—By Electric Telegraph—Copyright. LONDON, February 21. Mr W. H. Suddard, in his presidential address to the Bradford Chamber of Commerce, said that everyone recognised how severely the depression had affected the dominions, especially the woolgrowers of Australia and New Zealand, but the faith of those who had opposed artificial prices, or withholding wool from the sales had been justified. Congratulating the growers on their new prosperity, Mr Suddard said he hoped they would be moderate in their demands. After all, the textile industry was the goose that laid the golden eggs. It had been very sick and was still doubtfully convalescent.