COMMERCIAL.

Hokitika Guardian, 17 November 1919, Page 3

COMMERCIAL.

(AUSTRALIAN & N.Z. CABLE ASSOOIATIO LONDON, November 12. Waihi Junction 13/- to 14/-. At the wool sales prices were ful v maintained. A record prices for Ne Zealand scoured merino was obtain* for N.G.S., Christchurch of 107/-J; P panuis thirtytwo and twenty seven. j EXCHANGE' DROPS. J NEW YORK, November 12. 3 One pound sterling was sold down t four dollars lit cents but recovered t 4/121 cents. „ ’ WOOL PRICES. (Received this day at 10.15 a.m.) LONDON, November 14. Business firms .as well as official an thorities interested in the wool trade agree in predicting that growers profit ; will remain well above the pre-wa i average for the next two years, whet-h er th© British Government attempts an other deal or adheres to the arrange , ment terminating purchases in Juni , 1920. The war has left continental Eli , rope almost bare of home grown- rav material, and the absence of the Russiai contribution leaves a great gap in thi normal supply. The recovery in othe countries has scarcely begun, but E'u rope must be clothed. The restoratioi of continenal manufacturing will fa: precede the local production of rav j material on a large scale. The Franco Belgian mills are resuming, strongli and German and Austrian will soor follow, tempted by the consumers readiness to pay high prices. The rapid resumption of manufacturing largely explains the extraordinary bidding at the latest wool sales.