HEAVY WOOL BUYING

Sun (Auckland), Volume III, Issue 881, 27 January 1930, Page 10

HEAVY WOOL BUYING

HIGH PRICES, NOT SHORT SKIRTS, HAMPER TRADE LONDON, Saturday. Discussing the wool situation, a Bradford correspondent says the decline in London has not made trading conditions better in Bradford, where there is at present no sign ot a movement to take advantage of the current low prices. But spinners make no secret of their intention to buy heavily when they are satisfied that the decline has reached its limit. The position of the wool market again brings into prominence the justifiable complaint that, while raw material has sagged back to, or somewhat below, the level of values current before the war, there is no sign of the advantage of cheap raw material being reaped by the ultimate consumer of wool commodities. It is now becoming recognised in Australia, as in Bradford, that the excessive retail charges for wollen clothing constitute the sole serious impediment to that free flow of manufactures in the hands of the public, which is essential if the industry, from the woolgrower onwards, is to operate in a. sound and healthy manner. There is a block in the stream between the manufacturer and the public, consisting of excessive charges, which raise the cost of clothing so high as to curtail the demand. Long charges, rather than short dresses, have been the cause of the sluggish demand in wool textiles. At the London wool sales, 10,113 bales were offered, of which 3,146 were from New Zealand, and 787 of the New Zealand bales were sold. There was a good selection of greasy Merino with a few scoured and a better supply of greasy crossbreds, with rather better clearances, owing to lower reserves. New Zealand greasy crossbred, Tarn<?ale clip, made top price llid. average lOd; Teviotdale, top price Is 4id, average, 3 4d. Slipe lamb, Balclutha clip, made 15§d. HIDES ON FREE LIST WASHINGTON, Saturday. The Senate rejected an amendment to the Tariff Bill, proposing a duty of 5 cents a lb. on green hides, and 9 cents on dried hides. The Senate adopted an amendment moved by Mr, TV. E. Borah, putting hides back on to the free list.