WOOL IMPROVES

Sun (Auckland), Volume IV, Issue 1047, 11 August 1930, Page 9

WOOL IMPROVES

MORE ACTIVE BUYING IS PREDICTED CRITICS OPTIMISTIC LONDON, Saturday. Most of the writers on wool appear to find signs of encouragement in the outlook. Their comments are couched in a tone of mild optimism. The “Economist’s” correspondent says one gratifying feature is the gradual reduction of the stocks of tops in Germany since the beginning of the year. The decline at the end of June, as compared with January, was more I han 1,000,000ib, and the stocks of 4,404,000 kilos were only about halt the quantity held in June, 1929. It is also expected that when the June figures of the stocks in France, Italy and Belgium are available they will be considerably less than a year ago, although they were slightly larger at the end of May. This points to an increased consumption of wool and tops on the Com tinent during the last 12 months, which will pave the way for substantial buying when the Australian selling season commences. If Continental buyers can operate as freely as at the last London sales, and the Home trade becomes more active, the standing of raw material values will be very fully assured.