CONFIDENCE GROWS

Hokitika Guardian, 16 May 1933, Page 6

CONFIDENCE GROWS

REFLECTION IN WOOL PRICES

LONDON, May 14

■M'r W. Deveroux, representative of the, Australian wool-growers, reports that signs of returning confidence .tare reflected in the higher prices at most centres since the opening of the London wool sales. Merinos and fine cross-breds have fully maintained their initial advance, with a hardening tendency.

A fair amount of new business is offering and there have been, some transactions at full market rate%£ Medium and low cross-bred tops .are slightly against the buyer. There has been some inquiry on Continental account and merino and cross-bred yarnprices have slightly improved. The position on the Continent is finchanged. Tim Continental, futures’ , market is quiet and slightly dearer.

RISE IN PRICES

COMMODITY VALUES’ MOVEMENT

LONDON, May 14. Discussing the rise in commodity prices, the “Evening Standard”, says :

“The present upward movement possesses elements of permdnence to. agreater degree than any spasmodic! rallies, which, oh several occasions during the late slump gave rise to hopes that the tide was on the turn. The rise now taking place commenced sev-'m-:d weeks ago, and is of more general 1 - eharacter than any previous spUfts' ihtlie last two years. “It is built upon firmer fmmdatirtns,'’namely, falling production, increasing consumption and the inflationary „ measures in America, including the devaluation of the dollar, which has. increased the purchasing power, providing the necessary stimulus for world recovery.”