WOOL INDUSTRY

Hokitika Guardian, 1 November 1932, Page 5

WOOL INDUSTRY

TARIFFS WELCOME AN ASSET IN COMPETITION. (United Presß Association— By Electric Telegraph—Copyright.) LONDON, October 30. The" “‘Daily Telegraph’s” special correspondent in ith© West Riding says: Employers and employees declare as unjustified, gceptici-m as to the value of Ottawa to tire worsted .woollen trades, expressed by Mr Holdswoi th in the Commons j on- October 26. Last year’s duties considerably benefited the \trade at Bradford and Huddersfield, despite the dumpings of foreign cloth just before the duties were imposed. The new duties enabled the Yorkshire manufacturers to meet foreign rivals on competitive terms. Much of the dumped cloths have already been re-exported. The hom© trade has improved and exports are reviving. The latter is now only checked -by currency restrictions in Eastern Europe and South America.

Mr Devereux reports; The depreciation in sterling etimulated the demand for tbps’ at Bradford for export, combined with the improvement in overseas raw who! markets, due to the same reason, and caused Bradford merino topmakera to advance quotations. There is a hardening tendency, with a moderate amount-' of new business. Fine c'-ossbred tops are rather • firm, ■with merino low descriptions steady, with not much business, Merino yarn and position is unchanged, and quotations ar© maintained. • Particulars are coming in fairly well, especially the hosiery section. Crossbred yarns are unchanged with not much business. The sales of tr)s in Germany is only moderate, with prices unchanged.. The knitting hosiery trad© is fairly wel'l employed. The weaving trade is diminishing, and export is very poor.

WOOL SALES IN AUSTRALIA. (Received this day at 9 25 a. m> MELBOURNE, November 1. Tlie October wooll sales closed wjth. the market practically on par with last week, Japan and) the Continent buying freely. At ''Perth the third series of wool safes met with good competition, Continental and Bradford buyers being active. Cross-bred fleece was.firm, and Lambs were stronger. The best price was 13id for super merino. .v , • \‘i ' ——a