THE WOOL TRADE.

Hokitika Guardian, 3 September 1924, Page 3

THE WOOL TRADE.

CONDCTIOXS IN A.MERIC'A. NEW ZEALAND BROKER’S IMPRESSIONS. WELLINGTON, Sept. 1. The well-known Wellington woolbroker, Mr A. E. Muhin, who returned by the lonic from America, spellt a most interesting month among.'?! wool in Summer Street Boston. This is the largest wool centre in the world next to Bradford. Here there arc no sales, as in Australia, New Zealand ami in London, all wool being sold privately. There are immense wool stores, wnere staple is held and reelasscd. Buyers, operators and manufacturers throughout the United States all have a footing in Summer Street, and make their purchases there. The -wool-buying houses nf Boston are heavy buyers, and i heir liiiam-e runs into great figures. They take great risks ami buy huge quantities. They have the utmost eolifideuce in their own opinion of markets. Considerable quantities of wool are I .ought in New Zealand on account of these great Boston firms, who have their buyers in the Dominion. They know all there is to he known about New Zealand wool, its character, quantity and description. Such information js tiled and accessible. Mr Maliiii found himself well known by repute to the wool trade of Boston, and In- was accorded princely hospitality. M.-isxaehnsotts lie found to be a perfectly delightful State. New EngIh.T.T, In- said, is like Old England for beauty. Its trees are just as veil .'fable as those in the Old Country, and the people are decidedly English in ohn.weter and sympathies. An Eiiglisnman feels al home in Boston and Massachtisel ts.

Asked as in the American view of the future of wool. Mr Mabin said the trade was anxious to have the quesi:r,ii of duly or no duty settled one w-tv or the oilier. If the Republicans "ere successful it would be retained. If the Democrats, then the tarill ";uld receive attention. What was iva .tid was something one. way or the * D.er. American wool merchants had (ciifi-dern-e in the immediate future piiee ot wool. They did not think it would fall. Present values would, they ‘■thought. continue.