The heavy United States purchases of Russian manganese this week and the probability of substantial. manganese-ore shipments from Russia to Germany in the near iuiure have given rise to rumours that Great Bri-ain inay suffer from a shortage of his vital armament material before long. Nothing is more unjustified han such an sumption, In 1914, al-reedy' the British Empire was the only great power besides Russia that was independent in its manganese supplies, India produced then about 325,000 tons of high-grade ore a year, note than twice Great Brilain's retion and about three-fifths of the world's raw. wool exports.
The combined cups of the three. countries a ithe 1939-40 season proo-ably will reach 1,575,000,000 pounds, actual wight, To this must be edded last season. Ox "his total of 1,655,300,- 000 pounds, about 1,200,000,000 bourds may be taken over by the british Goverment. Tais gute is nearly twice as large as England's own requirements of imported wool At the same tine, it will prevent neutral countries from covering their tool requirements in the countries of origin. It is virtually certain, however, tua: the British Government will agree io re-export the surplus end, as a full-blooded wool retiering system will be miroduced in Great Briton as dom Nov. 1, this surplus will not be reduced ùy private hoarding within the country, effect on united States The United Stetes is likely to be affected by these dislocations in the international wool trade to some extent. In tne 1934-39 season, ended on June 30 last, the three Brùish domitions shipped 35,900,000 pounds of wool, chiefly of the apparel class, to the United States, but in 1936-37, the last normal season, these shipments hed reached as much as 112,000,000 pounds, On the basis of the attitude of the British authorities toward United States applications for other raw materials, it may be assumed that United States wool importers will be abie to satisfy their requirements for British overseas wool in England without major difficulties.
Meanwhile, it is of some interest that United States buyers were the main competitors at the South African auctions in the last fortnight, at which parts of the current clip not taken over by London were offered.
Text read from the printed page and cleaned; old type leaves the occasional error.