PRICE LEVELS HOLD

Rotorua Morning Post, Volume 3, Issue 643, 22 September 1933, Page 6

PRICE LEVELS HOLD

STOCKS NOW DEPLETED BUT MAY LATER BE RESTORED GENERAL BUSINESS CONDITION London, Sept. 20. At the wool saies 10,853 bales were offered, including 6464 of New Zealand. Of the catalogue 9885 bales were sold. There was active Home and Continental competition, with a very firm tone. The bulk of the offering was sold at fully the opening levels. 0 The New Zealand saies included greasy merinos, "Anchor Rocklands," top price 15£d, average 14 7-8d; scoured merinos, "Shelton Downs," 26d. Davison and Company's report on the wool saies says, "We must forget the lower levels of pessimism of 1932. The broadening and strengthening of business in most spheres of commerce with the peak consumption which has developed for all finer wools, demand a new envisagement of the whole position. It would_.be foolish to under-estimate the machinery pressure of the moment, and the fact that supplies will be more plentiful towards the end of the year, but we should take into account the general improvement of business and finaneial conditions. If a balance is struck the position appears fairly sound. "The trade may rest comfortably in the hope that immediate fluctuations will be of a minor chaiacter. The market shows evidence of a strong available purchasing power. Many mills' order books are full for months ahead, especially in the woollen section."