WOOL PURCHASE.

Ashburton Guardian, Volume 60, Issue 31, 16 November 1939, Page 5

WOOL PURCHASE.

,THE. AUSTRALIAN CLIP. . QUESTION OF ITS DISPOSAL. . (Received This Day, 12.55 p.m.) NEW YORK, November 15. American wool interests are keenly desirous of seeing a scheme for . the disposal of wool promulgated. They have been making a variety of sugges tions and groups with rival:ideas are publicising a number of concrete proposals, the chieLof them being the creation of a syndicate, or pool, undertaking the disposal of the Australian clip in 50,000-bale lots. This, however, lacks tho support of the major wool groups, notably the Boston Wool Trade Association and the National Association of Wool Manufacturers. The latter is offering an alternative under which the wool would be auctioned on the basis of catalogues prepared at Boston from descriptions cabled from Australia, with the reserve price fixed by an independent auctioneer without a connection with the wool trade. Mr MacGregor’s reactions to these proposals have resulted in a natural response by the British Government in the purchase of the clip, paying a price approximately 30 per cent, higher than before tho war, and it is really their right to determine the proper method of disposal. The most competent observers, both Australian and American, however, inescapably conclude that both the abovo schemes are not satisfactory.