WOOL MARKET

Wairarapa Daily Times, 18 March 1932, Page 5

WOOL MARKET

LONDON SALES.

FRIGES STEADY

LONDON, Wednesday

Total catalogues offered at the wool sales to-day were 11,446 bales, including 4310 bales New Zealand. About 4000 bales were sold. Realisations: New Zealand scoured combing, “Lake,” highest 17Ad, average 15jd; greasy lialfbred, “Bingley,” highest lOkl, average 10Jd; slipe lambs, “Feilding,” highest lid, average 10-jd. The sales close dto-day with the market steady. Greasy Merinos are slightly firmer than at the opening of the series. Scoureds are firm with a fall on opening rates. Fine crossbreds have eased somewhat, and are now about 10 per cent, below the,February closing rates. Medium and coarse crossbreds are unchanged. Slipes were in keen demand, although prices are unchanged. The total offerings for the series were 112,000 bales. i The quantity sold to the Home trade was 48,500 bales; to the Continent, 44,000 bales. There are held over SO,500 bales. The total quantity of Australian wool sold was 30,500 bales, and of New Zealand wool 39,000 bales. BOOM AT BRADFORD. LONDON, Thursday. The “Daily Express’s” Bradford correspondent states that for four months exceptional business has been completed in the wool industry. It is agreed that it has been the b<Sst trading quarter since the war period. Unemployment, which showed a total of 50,000 in September, is now down to 19,000. Scores of firms facing bankruptcy in the autumn are now prospering owing to the decline in sterling and import duties killing competition from low-wage countries of the Continent. Spinning and weaving mills are now working double shifts, and wooloombers are operating a twenty-four hours day. _ r The chief boom is in fine light fabrics for women’s wear. Yorkshire is hoping for at least a 33 per cent, duty for such goods. Export business is slow, but improving. The chief difficulty is for twen-ty-three foreign countries where there; are State restrictions against the export of currency to pay their debts. Yorkshire merchants favour an international clearing-house for trading debts, working-on the lines of the bankers’ clearing-house bv arranging payments by credits for accounts instead of transferring currencies.