DECLINE IN WOOL PRICES

Wanganui Chronicle, Volume 71, Issue 257, 30 October 1928, Page 9

DECLINE IN WOOL PRICES

A BRADFORD REPORT The drop in wool prices recorded at the last London sales does not altogether satisfy Yorkshire according to the report of a Bradford correspondent, who dec ares that wool must decline more before reaching what the trade regards as a satisfactory basis; however, there is little reason to anticipate a panic following the break in prices.

As to the effect the id.-rop in ftaw material may have on the cost of clothes, there does not seem to bo much ground for hope, judging by paragraphs in the reports of H. Dawson and Co., the well known wool-brokers, 5 Inch states: “It is felt, rightly or wrongly, that while the producers of cloth, have put goods on the market below the cost of production, the community ha not benefited by it. The merchants strongly resist any advance on last year’s prices, although during the year raw material showed generally an advance of from 10 to 20 per cent., and occasionally even more.” In another part of their report, Dawson and Co. say: “The retailers compnsu the only section of the trade , which seems able to prosper. There is not mHi comfort therefore for the ultimate consumer. Much interest is manifested at Bradfond, where cloth values are supposed to be understood. In the display, by a firm in the centre of the city, of blue serge suits marked at ten guineas, if one reckons 14s good retail for the cloth and four guineas for making the suit, there wou’d be a lot of change out of seven guineas.”