COMMERCIAL NEWS.

Hokitika Guardian, 28 June 1920, Page 3

COMMERCIAL NEWS.

AUSTRALIAN <V N.'/ ,'AHI.E ASSOCI ATlu.vJ LIVERPOOL WOOL SALES. LONDON,- June 26. j As only 11,000 bales of wool were ! sold, out of 30,000 on tlie first, day of j the Liverpool sales, the second day was | abandoned. Yorkshire traders consider | the outlook disquieting. They estimate that the Government still have a million bales on hand at the end of the year instead of the original estimate of . ( 530,000. j j Traders say that while the immed- , ate cause of the restricted demand is ' ' a falling market and a consequent instability of the trade the cause is the political situation in CfentraUEastern Europe. Until these countries settle down the demand must continue poor, as other countries have now an ample supply. Delegates have, completed thy contract with the Food Ministry for the purchase of the Australian surplus of butter. The terms are: Prime 240 s per cwt. f.0.b., for butter, grading 00 points with a shilling per cwt more for each point from 01 to 95, inclusive of a shilling a. cwt less for pnch point under ninety points. An extra os per cwt for unsahed butter which does not exceed 25 per cent of the whole. The Minister pays storage charges after an average of six weeks. The Australian Committee retains the right to supply South Africa with hutter provided it does not exceed 50 tons a month. The period of the contract, is from September, to March 31st., and to include butter delivered in cool stores in Australia till March 31st.