WOOL TRADE

Hokitika Guardian, 15 November 1932, Page 6

WOOL TRADE

BRADFORD TONE MORE CHEERFUL.

MORE MEN BEING EMPLOYED

(United Press Association—By Electric Teiegraph—Copyright.’

LONDON, November 13,

Mr Devereux reports: In sympathy with tlie firmness ofy jthe markets, Bradford' assumed a firmer and more cherefiil toq'e. There was'A moderate amount of , hew business JA,, merino tops, the topmakers getting, prices unobtainable last week. The output of combings was well taken up. There was very little new business ill crossbred tops,' except the fine sorts. Prices are firm. There i.s scarcely sufficient business in merino yarns to test the market,, but higher grades were very firm, and ordinary low, and verv irregular. Crossbred yarns wtio weaker, with paucity of new business. Spinners, are resisting s<»ie of the low offers for hosiery yarns.

There was a sustantial reduction in the unemployment figures in the wool textile industry. . In Germany, the elections, political uncertainly, and' exchange fluctuations have been disturbing sales. Tops substantii Uv declined and prices are unchanged. In the wool industry, certain sections are fairly well employed, largely 'attributed to the seasonal demand. The.Frencli industry is quiet.

COMMONWEALTH WOOLGROWERS

CANBERRA, November 15

A strong recommendation that the Commonwealth Bank Board, as the solo custodian of the exchange rate, should use its best endeavours to maintain the present rate of exchange for the whole qf the wool season, ending June, 1933, and t(iat, should a further catastrophic fall 'in the wool prices occur, it should increase the rate, was contained in the report of the Commonwealth wool inquiry committee, released to-niglit by the Prime Minister. The fact was emphasised that depreciation of the Australian pound and pound -sterling, accounted for fourpence out of every ninepence received for wool. The proportion had increased as sterling depreciated this year. The report also stressed the reduction of costs a s absolutely essential to ensure the permanent reliabilition rl the wool industry. It is suggested that rail freights should he reduced by at least thirty per cent, and that State Governments should gi”:.- wool growers priority and consideration in all matters where freights, taxes, and similar imposts are concerned during the present financial year; also, that a general reduction in private business charges should be made with the greatest 'expediency. The Prime Minister has undertaken to convene a conference of representatives of otato Governments and all other interests in order to ascertain whether it is possible to adopt a concerted plan for she relief of 1 " woolgyowers along the line* of the report.