FRENCH BOYCOTT.

Auckland Star, Volume LXX, Issue 102, 3 May 1939, Page 8

FRENCH BOYCOTT.

i LOSING GOOD CUSTOMERS. LONDON REACTION POSSIBLE. AGREEMENT URGED. (By Telegraph— Special to ".Star.") DUNEDIN, this day. Mr. Newman WHeon, president of the Dunedin Stock Ajrente and Woolbrokers' Association, referring to the suggested boycott, jxiints out that the balance «rf trade is jn-onoiinceflly in favour of France. In 1038 she took £2,000,000 worth of goods from New Zealand, while in return Xew Zealand mtrehaeed £120,000 worth. It in difficult imlwd to see Mr. NetsliV -\-iewpoint, .Mr. Wilson remarked. Mr. Nash, ■ however, .-c-eniH to believe that our wool is equivalent to sterling on the London market, l>ut that is not the case. The boycott of New Zealand -woof will apply not only to sales held within thie country but also to London sales. If the quantitv of wool purchased by France to-day is not I>urehaeed after May 31, stated Mr. Wilson, Mr. Nash a,m>ears to think it will not matter, and the wool will be bought by England or -by otlior piuehasei-H. Kii"Icind however, is iiuicliasinj; sufficient wool at pi-enent to nipyt- .:11 her reqniveliionts. So. too. are otlior countries at Xcw Zealand s.-il.-s. This year liaiice pnrcliaeed at, least I bnles. That amounts to I m the vicinity of L'S per c-rat of the total ' The 1110-1 iinipoitant point is ta.it in order to o'.itain that quantity of jWix>! I-rcnch buyers bid for or made com- , potition on approximately 400.000 bales during the season out of a total offering (i ap;ii-r»siinate)y S9O,<KK) hales. That means coinetliiiie. At more t-llan one sale French ibiiyeiß sot the market values. .Thoueh ' these were low and not payable to growers it must at once be seen that they v.ould have been even lower had the French not been operating'this eeason. The boycott does not apply to wool alone. Skins and hide* will also be affected, and Fiance is a fairly good buyer of these commodities; too good a buyer to let, eo. .Asi<ed if he thought the Government would not accede to France's demands. Mr. Wikon replied that it would he a shockinjr.ptate of affairs if no agreement wae reached.