THE WOOL SLUMP.

Auckland Star, Volume LVI, Issue 112, 14 May 1925, Page 4

THE WOOL SLUMP.

EXPERTS AT LOGGERHEADS. LONDON, May 13. Sir Wm. Aykroyd, past-president of the Bradford Chamber of Commerce, in a letter to the Yorkshire newspapers protesting against Sir Arthur Goldfinch being quoted as an authority on the wool situation, says: "Sir Arthur Goldfinch lias now assumed the position of adviser to the wool trade. I feel lam expressing the feeling of the whole of the textile trade when I say we are, heartily sick of his assumption regarding the rise and fall and the stocks of wool. It lias been proved without question the wool trade cannot be conducted with a. paper and pencil in an office. ''Those who have been foolish enough to follow Sir A. Goldfinch's guidance during the last six months are at present suffering bitterly for it. I respectfully suggest the time has come for him to retire and leave the textile trade to look after itself, as to continue fathering an industry of such magnitude without experience in the textile trade is more than any of us are prepared to accept. "Woolgrowcrs are now carrying a surplus, but it wouold be fatal if they were to yield to outsiders with a taste for war-time control. If values can be stabilised on the present basis for a period, the orders for tops, yarns and piece goods, which have so far been held back, will soon be placed more freely. Already the tone Is more cheerful." In replying to Sir William's letter. Sir Arthur" Goldfinch says: "I have been watching the wool position since 1021 as delegate and representative of a larpre section of Australian woolgrowcrs. Mv diagnoses of the position from 1021 to 1D24 have proved singularly accurate. "I acknowledge that this year the course of the market is running counter to my expectations, but this only proves that I am not infallible. I intend to continue to watch the wool position, and to comment publicly upon it whenever and in whatever manner I consider to be right."—(A. and N.Z. Cable.) LONDON WOOI, SA_.ES. LONDON, May 11. Further London wool sales have been fixed to commence on July 7, September 15 and November 24. The Bradford tops market has improved in tone. Confidence is slowly returning, particularly in Merinos. LONDON, May 12. At the London wool sales to-day there was a good tone and brisk bidding for all greasy sorts. Prices were very Arm.— (A. and N.Z. Cable.) Dalgety and Company, Limited, report havlnc received the following cahlegram regarding the London wool sales from their London office, under date May 12:—The sales continue more animated. The competition Is better. Crossbred wools, medium and coarse quality, arc ljd to ljd higher, as compared with the opening rates at the sales. The sales close on Thursday.