WOOLLEN GOODS

Wanganui Chronicle, Volume 83, Issue 255, 28 October 1939, Page 3

WOOLLEN GOODS

IMPORTS FROM BRITAIN XMTHDRAXX AL OF PRICES HIGHER LANDED COSTS AUCKLAND, Oct. 26. Quotations from the United Kingdom for woollen piece goods, which had advanced substantially, have been I withdrawn, according to cabled advice received in Auckland. The reason is that exporters arc awaiting lhe settlement of a basic price in England and lhe fixing by the British Government of civilian quotas. British exporters will now have to obtain permits to export. Further advices relating to the King’s risk commodity insurance scheme so far as woollen piece goods are concerned is that the insurance cost based on recent quotations averages 2d a yard. Stocks valued at £lOO9 or more fall within the Government insurance scheme against war damage or destruction. On supplies exported to New Zealand the insurance premiums will be added to the landed cost. The average cost of 2d a yard is sterling, so that 25 per cent., exchange and a proportion of other charges must be added in computing: the price the New- Zealand public will be called upon to pay. Importers of soft goods have also received advices from Belfast manufacturers of the withdrawal of all linen thread offered exce 9 supplies for Dominion Governments. Scarcities in lhe raw material have developed, and manufacturers are apparently investigating their position. At the time of the withdrawal of quotations prices were up by about 33 1-3 per cent., due largely to ihe increased cost of Continental flax through the depreciation of the English pound. The advice of the withdrawal has caused concern in Auckland, and clothing manufacturers, footwear manufacturers and others who are users of linen thread have sought supplies from the small stocks that were held by importers.