WOOL SHOULD HOLD

Hawke's Bay Herald-Tribune, Volume 81, Issue 36, 5 November 1937, Page 4

WOOL SHOULD HOLD

-Press Association.)

Market is Siatistically Sound N.Z. CLIP IMPR0VED

(By Telegraph-

WELLINGTON, This Day. Discussing the prospeCts of the coming New Zealand wool saies, Mr M. Tartakover, of Wellington, a wool-buyer who returned to-day by the Tamaroa from England, said he considered that New Zealand farmers need have no cause for alarm, notwithstanding the fact that the market had dropped. Hc thought wool conditions were very healthy.

The reason why the September saies at^Home were lower was purely through lack of confidence. brought about by political conditions and Wall Street iluctuations in America* As stocks wore dbnomally low in Yorkshire, tljere was not a manufacturer or spinner who eould give as a reason for the drop in September that they were overstocked. As a matter of fact, a week before tlie saies what greasy wool was offcring was snapped up and yet, between that and the opening of the saies, confidence was so shattered that the trade in general "had the wind up." As regards Japanese buying pro spects, Mr Tartakover said one would naturally conclude that, as Japan was using much more wool for military purposes, they would require inore wool and would be heavier buyers than usual, but finance would have a say in it. However, he would be surprieed if they did not take at least as much as last eeason.

Thejre were no Complaints about the condition of New Zealand wool and he was pleased to say that the trade generally in Yorkshire was becommg more satisfied with the get-up and breed of the clips. Last season less hair was in evidence in the Dominion 's clip the general opinion being that the New Zealand farmer was using better breeding rams, and the people at Home hoped the Dominion woulcl continue to do so