FALL IN WOOL

Taranaki Daily News, 8 July 1920, Page 5

FALL IN WOOL

V . - FINEST QUALITY STEADY. PROMTS FOR ASBTRALASIA, By W«tavi.—rie« Aun—Copyright London, July 6. Commenting on the wool position, Sir A. H. Goldfinch (Director of Raw Material at the War Office) states that at the present time the downward movement of prices is beginning to take effeet, but that only diversion of the public demand from the finest wools can materially reduce the price of the finest wools, .since these have been lately con- ~ sumed fMttt than grown. It may be confidently maintained that J&f.jjrfces Axed in the wool contracts were fair and reasonable when made and tbriMftngwnaits for cash payment, irrespective of shipping facilities, were of immentt benefit to Australia. Nobody could Have foreseen the extraordinary boom In merinos and it is exftremelV dmibtftd if titer farmer would have got M* (benefit of this if the contracts had I M$ tftiated. ■v«j*ii«tt« hand, the British public complains; that the profit-sharing arTalgtasenti have unduly increased the prtee Jf wool to the British public. It fa iuffioiemY to say" that the division of profits was an essential part of the contracts, inasmuch as the farmers were <AfflMc-4»--M&.ai .ISJd after the market tajgpMrinr ieyond that price. 1% tiding account for the fifteen . months %»the «ad of March, 1918, shows ™jat the profits on Australian wool were '£2,734,95fc on jheepsftins £30,262, and 15 e * »*•*»s> vool and sheepskins £389,041. The corresponding figures , f SsJfc££ #«% March - 31, 1919. were 'Mflmtom £117,593 and £2,300,889. Stocks afctoe k#er date were valued at 437,181,48 ft M «1.13«,r51 atd £23744sa __ ' THE LONDON SALES. _, FURTHER DECLINE IN PRICE. ; deceived July T, 9.65 p.m. i .. . London, July 7. f. At the wool sales yesteofey, 10,0381 Hales were catalogued. The woo! comJriMd mostly faulty merinos and tteduuß .to low crossbred*, and twothirds were withdrawn. Prices were jar to five per cent, decline on the last Etad* cloaca; titM. No super merinos «<**reds wre offered.—Aug.fIJSL- CWm JUan. KB* ZEAUinys share. J ABOUT mjSQojBM. Pf■ Telegraph.—Special Correspondent.) ' i, . Weffington, Last Night. Tfc» figures in the cable message were WWtted to the Psjm* Minister this **#*■ ■ Mr. Massey said that he had "Ifff possession fljmres which were nWStf better than those in the cable, wfc imfortunately, the. communication JmUmw come- to him had been marked Wf*|t" and he did not consider himRn at liberty to make use of it. «** *W?* to, tha figures, in the cable, »e «Hithat Je New Zealand totals inclusion in them of the profit* on aheepskins, for the profits <m fitopmm did not come beek to the JwAtter* here. All the information 5* .W.MiMdf at liberty to give was toit 11* aseertamed than of New Zeatmaaftufc 0 "^ 81 ' 1W9 ' WM * bout