BRADFORD TOPS

Wanganui Chronicle, Volume 76, Issue 108, 10 May 1933, Page 9

BRADFORD TOPS

A FIRM POSITION Received May 9, 5.5 p.m. LONDON, May 8. The Bradford tops market is firm, but business is quiet pending the opening of the London wool sales. London May series of wool sales open to-day. The market is expected to show a rise of 5 to 74 per cent, on closing rates of the March scries. The Bank of New South Wales has been advised by the London office that the prices of wool have “moved upward.’’ H. Dawson, Sons, and Co., Ltd., Brad ford, in reporting on the wool position at the close of the March series, remarked that “the varied efforts and recipes for raising commodity values up Io r.ow appear to have baffled both, the economist and the politician. Th<| manipulation of currency has accom plished nothing. Increased eonsump tion, with more buyers than sellers, can work the miracle most effectively. In tnis respect the prospects of our raw materia, are brighter than many commodities, as consumption of fine wools’s at a peak level, and stocks arc nos heavy. It is possible that a new perspective of the position may be forced into prominence very soon. Meanwhile, we arc at t.ie mercy of world financial and political adverse factvjs—although it is admitted that stocks of manufactured goods in distributors’ hands are light; also that wool consumers generally are carrying minimum requirements.”