WOOL FOR U.S.A.

Sun (Auckland), Volume III, Issue 833, 29 November 1929, Page 10

WOOL FOR U.S.A.

PROHIBITIVE TARIFF The reason lor the apparent lack of strength in the operations of American buyers at recent New Zealand sales is apparent when it is realised that the new tariff of 34 cents a lb on raw wool (approximately lTd) is practically the value of the super-crossbred wool that brokers describe and refer to as "American style” wool. When to the duty is added freight, insurance, exchange, etc., the cost to the American manufacturer is practically prohibitive. American buying has not been a conspicuous feature of the wool sales in New Zealand, but recently increased American competition for the finer qualities of Merino wool has been noted in Australia. This year there has been an increase in the consumption of woo! in the United States, the figures for seven months ending July being 297,000,0001 b. an increase of 15 per cent, compared with the same months of 1928. Imported wools showed the greatest gain in consumption, the quantity used in the period mentioned showing a rise of 50 per cent, on the previous year. The finer wools ranging from 64’s to 80’s quality displayed the greatest rise. It is thought that the more moderate cost of fine wool is encouraging manufacturers to tempt the wealthier womenfolk of America to wear lightweight, high-class woollen fabrics in Place of the silk they have favoured for some time.