DELAY MAY ENDANGER OUR WOOL MARKET IN BRITAIN

Chronicle (Levin), 9 January 1947, Page 8

DELAY MAY ENDANGER OUR WOOL MARKET IN BRITAIN

- (bpeciai Correspondent) . .

Reeeived Wednesday, 6.30 p.m.

LONDON, Jan. 8. The postponement of the wool- saies at Auckland, Wanganui and Napier due to- shipping delays and congestion is regarded here as the . only practicabie course in tlie interests of the sell'ers and tniye'rs. The- former need to see ini- • proved clearances from the ports before they can stage further showiugs and the Jatter face obvious ilnancial . and other jji'oblems if tliey are required to. continue buymg while substantial former purehases remain unshipped. . N everttieless there is in the United Kingdp'm trade disaj)poiutment at Kew Zealand 's inabiiity to maintain a larger stream o,f arrivals here and tho delaved shipments promise to present awkward problems for the United Kiug dom milis in the coming months. It is calculated that at least four months are no.w required before wool bought in New Zealand can Ue eonverted into tops in Bradford •compared with less than three months during nofmai tim.es. Though nobo.dy expects to do it in three months today, tliere are many who. hoped to do it in less than four. The delay in New Zealand wool ar rivals is causing many firnis'here to look to spot market supplies oi New Zealand wools owned by noiut Organis ation. That body had already marketed generous weights of New Zealand eross breds and may have tuconsider inereas ing its quantities if ineoming ship ments of commercially purcliased N ev Zealand wool fall further behind schedule. There is also a possibility that if tlie arrival rate of "New Zealand wool disappoints the agitation may be revived in eertain quarlers for improv ed import facilities inio Britain foi Routh Ameriean crossbred wools whicli at present are virtually exeluded from the British market.