WOOL MARKET

Wairarapa Daily Times, 15 September 1936, Page 8

WOOL MARKET

PROSPEROUS SEASON. PREDICTED BY NEWSPAPER. LONDON, Monday. The 1 ‘Financial News” predicts a prosperous wool season. “The total carry-over, both in exporting and importing countries, is anything but heavy; in fact, it is appreciably smaller than a year ago. Supplies of raw wool are unlikely to be heavier, and may even be slightly smaller. The demand for textiles is still expanding with the general improvement in business conditions. It is scarcely surprising that x>rices of textiles were fairly firm when values were seriously tested in Australia a fortnight ago. The' market is likbly to be firm when the London auctions open oil 15th September, and %yill probably continue firm throughout the season.” i JAPANESE BUYING PLAN. TOKIO, Monday. Wool interests have answered the Ministry of Commerce and Industry’s questionnaire under the Imperial ordinance of 25th June, upon which import quotas, import price compensation and restrictions on yarn manufacture will be decided. The “Yomiuri” understands that the answers collated envisage the purchase of a total of 400,000 bales of South African, South American and New Zealand wool. A cable dated 25th June stated that an ordinance which is to operate for 12 months provides first for the import of wheat, starch, flour and wool, subject to license by the Government; and, secondly, for a 50 per cent ad valorem surtax to be imposed on meat, butter, condensed milk, leather, animal fat and casein. The ordinance ordered wool importers and manufacturers to report all quantities under import or manufacture or in stock, while, in applying for licenses for import hereafter, they must submit details of the kind, origin, quantity, time of arrival, and such other information as is required, the purpose being to give the Government control of the entire industry with flexible adjustment imports, which will be usable as a weapon in any further negotiations with Australia.