WOOL PACKS

Evening Post, Volume CXI, Issue 33, 9 February 1931, Page 12

WOOL PACKS

A NEW INVENTION

POSITION OF MARKET

United Press Association—By Electric T«l«----eraph—Cupyrit'lit. (Received Oth February, 10 a.m.) LONDON, Bth February. Sir Frederick Aykroyd's long labours to find a wool pack to replace the unsatisfactory jute pack seem—at last to be rewarded with success. He informs the ••Yorkshire Observer" that he has invented a pack which in his opinion meets every requirement for covering wool tops and yarns. It is a woven fabric,, the yarn materials from which it is manufactured being paper with a core of Chinese grass called ramie. When recently tested at a Bradford conditioning house, it was found to bo considerably stronger than jute. Indeed, it would have broken the testing machines if it had not been taken, oft. According to Sir Frederick it only remains to be seen whether it can be produced at the right price. .Accountants are working out the costs. ■ The wool pack committee of the .Bradford Chamber of Commerce expressed the opinion that this pack will probably provide the solution of a long-standing problem. The committee is endeavouring to get it put on the local market, and make further tests in the Dominions. , Discussing the wool position, the firm oF H. Dawson and Sons writes: "It is not humanly possible to explain what has occurred to change the whole atmosphere, although the advance itself is justified. Jlerino. wool, the most popular, most serviceable textile raw material in the world, lias been too cheap. Moreover, it holds a stronger position statistically than has been generally accepted by the trade. Meanwhile, pegging up Australian exchange rates has put an immediate1 huge buying power into the primary markets. From- totally unexpected .sources large sums of money lying in Australia are being poured into the wool-buying centres by strong firms, who previously were prepared to leave their money lying in Australia. This stream will continue for several months owing to many important houses having arranged time deposits. Thus the underlying strength will be provided for the remainder of the season, and topmakers and spinners can hardly expect to pick Up wool in Australia on the recent seasonable level. It it obvious these wools will have to be resold in future," but meanwhile a large weight will not be available for trade for many months. We have seen the end of forced selling from producing countries, and for this reason at any rate the lowest point appears to have been passed." i