THE WOOL RECOVERY.

Auckland Star, Volume LII, Issue 216, 10 September 1921, Page 7

THE WOOL RECOVERY.

CRITICISM OF BAWRA. CAUSES OF IMPROVEMENT. (Received 10.30 a.m.) LONDON, September 0. Commenting on Sir John Higgins' speech on the wool export position, tho "Yorkshire Post" says that a gradual recovery from the slump in wool was inevitable, and would have come if there had been no Bawra. Improved economic conditions are responsible for the return of confidence in tho wool industry for larger sales and firmer markets, which Sir John Higgins claims as due to BawTa's action. • Bawra is an instrument for regulating the flow of wool to the market, largely, be it remembered, .at Britain's expense, as the nation mitigated the financial crisis, but had nothing to do with the restoration of economic conditions, the return of confidence, and greater consumption, which are responsible for tho improvement In wool values. Growers will doubtless see through Sir John Higgins' sophistry, and probably aßk why, now that Bawra has so little good merino to offer, should merino growers any longer tolerate this syndicate interfering with their private selling. Important wool growing interests have already declared in favour of the removal of control. Users will be surprised if they consent to a further wool selling policy dictated by Bawra. The regulation of offerings can easily be arranged in conference with selling brokers and buyers, and thus the expense of Bawra can be saved.— (A. and N.Z. Cable.) THE INCOMING CUP. (Received 11.30 a.m.) MELBOURNE, this day. Sir John Higgins announced that the conference of wool representatives had unanimously agreed that the allocations for October, November, and December be 150,000 bales a month. Tt was generally agreed that every endeavour should be made to Sell the incoming clip <by July 31, subject to market conditions and demand for raw wool. Sir John added that the recent conference has modified the resolutions passed in March, 1921, in the direction that the quantity or wool allocated to the Australian auctions be not less than the British offering, atao that the Appeal Board take action from time to time to protect the market value of Australian wool.—(A. and N.Z.)