WOOL MARKET

Hokitika Guardian, 13 July 1931, Page 5

WOOL MARKET

NO IMPROVEMENT IN BRITAIN. [United Press Association.—J?j Electric Telegrapn.—Copyright.] LONDON, July 1.1. The Australia expert, Mr Devereux, in Ins report on the wool market states that although the French .Government’s acceptance of the. United States proposals was known prior to the opening of the wool sales, the benefit arising therefrom was largely counteracted bv the protracted na tore of the negotiations, and the consequent increasingly difficult iinancial strike in France, and the possibilities of labour troubles in Yorkshire. The : position has not been improved by the announcement that the losses of the North German Combine Spinning Company and it subsidiary concerns are infinitely greater than was disclosed, 1 by the balance sheet on December 31. 1 1930. Under all these circumstances ' th opening decline in the values at the wool sales is generally considered 1 to be less unfavourable than might 1 have been expected. Since the open- J ing, competition, although still large ly dominated by Yorkshire, has rather improved, and now includes some de- r mand by both French and German j buyers. The values show little or no change compared with the opening. LONDON, July 10.

At the wool sales 6508 bales wevo offered, including 3278 luilea of .N(\\v Zealand wool. . About.,3B6o,bales.jvoi’o sold. There was a good selection of, snperslips. There was strong competition in nil-section, at full late rates. New Zealand lots sold as follows: Crossbred, A run (fil'd top price), 6d average.