AUSTRALIAN WOOL

Dominion, Volume 11, Issue 88, 7 January 1918, Page 8

AUSTRALIAN WOOL

BRINGS HIGH PRICES AT BOSTON. (Rec. 'January 6, 5.5 p.m.) New York, January 5. The first wool auction in the States has been held at Boston. A million pounds of Australian wool was sold. The best scoured realised Bs. 41b. per lb.,' and greasy brought 2s. lid..— Reuter,

Some doubt was expressed recently - whether the Taranaki dairy factories - would be able to make the usual advance to suppliers last mouth, owing ' "to the difficulty of finance due to the shortage of shipping (eays an • ex....change). It is now stated, however, . that coastal factories have been able to pay out as usual, the directors' having been able to arrange finance with the banks by way of overdraft. As an instance of the difficulties with~-which ■' directors have to contend, it ie stated that one factory, whose usual over- .. draft ia '£2500, now has an overdraft of £6000, the extra £3500 having been •• secured by a "joint and several" undertaking given by the directors. This ' company ias nearly £10,000 worth of cheese stored in a building in New Plymouth, but cannot obtain a Govern- . ment advance against it, though tlio , building, it is- said, had been recognised as a grading store. Steps are being taken to have this overcome.