COMMERCIAL REVIEW

Sun (Auckland), Volume I, Issue 159, 26 September 1927, Page 2

COMMERCIAL REVIEW

THE HOME MARKETS WOOL PRICES FIRM DEMAND NOT SLACKENED By Cable. — Press Association. — Copyright Reed. 9.5 a.m. LONDON. Saturday. Activity in the industrial section of the Stock Exchange fell off considerably last week, many speculators taking their profits, and people were wanting to sell shares instead of buy them, but during the last day or two a firmer tendency has developed, and there are signs of this continuing. Gilt-edged stocks have been dull, due to the Government’s conversion proposals, but the market is gradually taking a more optimistic view of the new offer, and is said now to be meeting a good response in the belief that any further issue made will be on a less favourable basis. WOOL DIFFICULTIES The wool sales are proceeding satisfactorily. There is no sign of any slackening in the demand, and Pf. M i® s _ ar f fully on a level with those established at the opening. The Home trade is the principal operator, with Germany a good second. America lias been taking a fair quantity of slipes, but France has been operating only on a small scale. Commenting on the difficulties of the manufacturing situation, the “Statist’s’’ wool correspondent compares the present with the pre-war prices for tops, showing that increases in Bradford values range from 30 to 86 per cent., compared with September. 1913. The greatest appreciation is in Merinos, but the cost of wool is consistently keeping well ahead of the price at which it can be sold as tops, yarns and piece goods. It is impossible to lose sight of this fact. Although improvement is ad-