BRADFORD WOOL MARKET

Sun (Auckland), Volume III, Issue 811, 4 November 1929, Page 10

BRADFORD WOOL MARKET

MORE CHEERFUL TONE NOTED United P.A.—By Telegraph—Copyright LONDON, Saturday. The Bradford wool market is showing a decidedly more cheerful tone than of late, thanks an some degree to to the reduction of the bank rate, which will appreciably benefit importers in financing the large quantities of wool that have yet to be lifted. The decision of the Australian woolgrowers to extend the selling period is meeting with a certain, amount of adverse criticism in Bradford. For instance, the “Yorkshire Post” says the decision appears to have been taken without any regard for the manner in which the wool textile industry is conducted throughout the world. It seems to imply that Australian growers and selling brokers are under the impression that an even rate of wool consumption is maintained throughout the year. They ought to know that it is not so, because when some of their representatives were in Bradford two or three months ago it was pointed out that there were periods when orders were placed ireely for partially and fully manufactured goods, and at such periods the manufacturers wanted to cover their requirements as quickly as possible. It was understood that the growers’ representatives fully appreciated the importance of the point, and promised to do what they could to have ample supplies put on the market when required. The Australian woolgrowers have talked much lately about a campaign in favour of “use more wool” says the «‘Post,” but before they have iairly started the scheme they resort 1° t^, t . i 5 :s . \° Sive their raw material f: n artificial value, and refuse to let it find a sound economic basis at a time when the consumers desire to TT P, rovlsion asrainst the season’s tiaae, thus causing irritation.