MORE IMPROVEMENT SIGNS.

Western Star, 9 June 1933, Page 2

MORE IMPROVEMENT SIGNS.

The London Australian woolgrowers' ' representative, in a. report furnished this week, said the firm and aotive close of the London wool salea left a good impression on the trade. Prices in France have hardened and in Germany there are improved prices for tops and yarns A correspondent of the London Daily Express says: "Prosperity is hurrying back to the wool industry. Orders are piling yp,. and mill owners again see., a profit in store. . Combers are working-from 512 to 14 hours daily, and firms which are specialising in novelty cloths tor America are doing abnormal business." Following th e upward movement in overseas wool prices, sharp advances characterized the opening of the winter series of Melbourne wool sales on Tuesday, The increase is estimated .at from 15 to 20 per cent, for best descriptions, and 5 to 10 per cent, for other sorts. Competition was very strong. President Roosevelt has arranged a loan of fifty million dollars to China. The loan will be secured by a pledge of certain taxes, while purchases will be made from 1 time to time during the current year in the open market instead of from the Government. It is held that surpluses estimated at approximately 1,000,000 bales of cotton and 10,000,000 bushels of wheat will be absorbed, a&id it is hoped that this will have a stimulating effect on domestic prices. Discussing the prospects of developing trade in New Zealand timbers with England. Mr Seed, secretary of the New Zealand Sawmillers' Federation, said it was distinctly . encouraging to know that as a direct result of the mission carried out by Mr Entrican, engineer of the State Forest Service, and Mr R. Bauchop, sawmiller, of Southland, several cable inquiries have been received recently. These were not only for silver beech, but also rimu and matai. What i.s wanted now is a rise in the price-level of dairy pro duce. The great improvement in British trade conditions with more regular employment for skilled labour is bound to increase demand which, of course, is the determining factor in pri.ce fixing . The world has. long been under the grey mantle, but the golden fringe is not invisible.