THE WOOL TRADE

Hokitika Guardian, 19 April 1932, Page 5

THE WOOL TRADE

OUTLOOK IN EUROPE

GENERAL POSITION UNCHANGED

(United Press Association—By Electric Telegraph.—Copyright.)

LXDON, April 16

Mr Devereaux, Australian wool trade representative reports that the general position is unchanged. British manufacturers are awaiting the announcement next week, of the intention of the Government in regard to the duties on wool textiles. Continental manufacurensi are watching the position closely, and pending the decision, all are disinclined to enter speculative commitments. The decline i'n values at the opening sales in London was largely anticipated. Wince the opening Continental conipetttinn has become a, little inore apparent, hilt insufficient to influence values. Bj'odfofd reports a Very t(iiict market.

Bradford textile miimiftictums fully confirm Mr Kunciman's reference to the West Hiding. ’While, there rs no trade boom, the position encouraged manufacturers to anticipate a marked revival in the near future. The export trade is hindered by currency restrictions in many European and South American countries, hut though the turnover has still a long way to‘ go to- normality, the returns are showing continued improvement The top yarn trade is considerably better than in 1931. The spinning trade shows marked improvement, owing to exclusion of foreign yarns, the only obstacle to complete recovery being the instability of wool prices, which checks forward buying.