WOOL DEAL.

Taranaki Daily News, 2 July 1920, Page 5

WOOL DEAL.

REPORTED GERMAN PURCHASE AN OFFICIAL DENIAL, tl Telegraph.—Preai AMn.—Cowrtlelrt. London, June 30. Sir Arthur Goldfinch, Director of Raw Materials, commenting on the rumors of the sale of £4,000,000 worth of wool, says that no important sale of Government wool, outside the auctions, has been made for months, neither do any arrangements exist nor are they contemplated for selling to Germans through individual firms. It is open to all buyers to send to Germany on their own account. ' SEASON FOR REPORT. NEGOTIATING WITH GERMANY. Received July 1, 9 p.m. London, June 30. The Australian Press Association learns that trade circles are inclined to believe that a sound basis for the report of the sale of £4,000,000 worth j of wool to: Germany is possibly to he I found in the fac} that British ffisnti- : factures had) acquired an interest in German and Polish factories in the belief that they can utilise the trade conditions existing in those countries and the rate of exchange in order to bring manufactured goods bacVto England and. sell At ft greater profit. Such a,' scheme Was contemplated in February, but ifflid not reach finality. H is known, however, that English manufacturers recently visited Germany and Poland with a view to acquiring factories: At the Bradford wool sales practically the etitir* offering 'consisted of sorts suitable for the Continental trade. Very little interest was shown, and there was no competition. Seventy-five per cent. of the offering was withdrawn. Prices are unchanged. Sir Arthur Goldfinch says the easting instructions provide that wool with' drAWn from-" auctions may be sold at or | above the reserve auction price. Such sale* occurred on a considerable scale early in the year, mainly in low crossbred*. An exceptional quantity of su6h wool was now available owing to re' cent withdrawals. Aits.-N.Z. Cable Assn. [lt was reported from Bradford yesterday, that Sir Arthur Goldfinch had sold £4,000,(100 worth of wool to a local syndicate, the wool being destined for Germany.]