EMPIRE WOOL.

Taihape Daily Times, Issue 219, 30 November 1916, Page 3

EMPIRE WOOL.

LONDON MARKET CORNERED

! LONDON, Nov 27. I ! Wool. —The arrivals to date are 144, 500 bales, of which there has been forwarded 65,000 bales, leaving available 90,000 bales. The market is in a state lof consternation. All dealers, brokers I and Colonial importers feel they are j being put out of business. Although | there may be a willingness to aci quiesce during the war period, they

are strongly hoping that immediately after the war the Colonial interests | will support the English interests in ■ demanding a return to the normal i conditi.ons. There is great apprehen- ! sion lest the present action is an ati tempt to nationalise the wool industry. I Regarding the price, the feeling preI vails that the Australians have made 1 a fair realisation. It is considered ! that the price decided on is advantagl 1 : eons to Colonial as compared with what is to be paid for the English clip. The Government action is a great blow to the United States, which will now have to look almost entirely to South America for supplies. It is still a moot question whether auctions of the new clips will be held in London. The difficulty is that supplies will not be available. Owing to the expected slow arrival under the present tonnage difficulties it will be surprising if sufficient has arrived in the next few months to satisfy Government contractors’ necessities. Business at the Bradford market is practically at a standstill, except for spot lots, which have further advanced.