"RAY OF SUNSHINE"
(Press Assn.-
FAVOURABLE INDICATIONS FROM RISE IN WOOL
-By Telegraph — Copyright)
Sydney, August 30. The acting-president of the Graziers' Association, Mr. Walker, states that the rise in the wool market suggested that wool prices are now definitely on the up grade. The Prime Minister. Mr. J. A. Lyons, expressed satisfaction with the rise. "It is a ray of sunshine," he said. While the producers express gratification at the improvement, they point out that the price is still below the cost of production. The Commonwealth clip for the current year is expected to exceed that of 3 93132 by 225,000 bales. Last year's average was £10 18s 5d per bale. So on the basis of a 7£ per cent. average increase on the year's cheque, the net increase on the Australian and London saies will be £5,063,048 in Australian currency. This estimate does not take into account the possibility of further improvement in prices or variation in exchange.
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 315, 31 August 1932, Page 5
Word Count
160"RAY OF SUNSHINE" Rotorua Morning Post, Volume 2, Issue 315, 31 August 1932, Page 5
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