AUSTRALIAN WOOL INDUSTRY.

Press, Volume LXVIII, Issue 20624, 13 August 1932, Page 15

AUSTRALIAN WOOL INDUSTRY.

CONCERN OF GRAZIERS.

NATIONAL ACTION ASKED. .ÜBTT«t> P3ESB ASSOCIATIO»—BY EI4CXUO TULJaRAPW—COPTWOHT.) SYDNEY, August 12. "A grave national warning" to the Government and people of Australia is issued by tho Grasiers' Association. of Now South Wales, which, in letters to Mr J. A. Lyons "(Prime Minister) and Mr B t S. H, Stevens (Premier), declares'that the greatest primary industry of' the State is already disintegrating, and borders on ft state of financial collapse. "Recovery may still be possible," the association states, "but'only by bold, drastic, and swift action by our. national leaders—action which must be complete before the wool export season opens on August 29tb." INVESTIGATION BY COMMITTEE. CABINET'S DECISION. CANBERRA, August 11. Tho Federal Cabinet, at- a meeting, decided upon the appointment of an ospgrt comn»itte» to carry eitf § full investigation of the wool industry in Australia, with a view to determining what steps were' necessary to bring about the rehabilitation of the dustry■JMr Lyons, making the announcement, said tho committee ju all probability would comprise seven members. The ■ personnel is not yet completed. The decision of Cabinet followed an interview which Mr Lyons had with Kir Graham Waddell, president of the ' Wool-Growers' Council, in Sydney, in th* course of which Sir Graham Waddcll pointed out the urgent necessity fur assistnncc being provided in order to place the wool industry on n feajis which would "be profitable to th© grower.

BRIGHTER FfcQßPE<3fg.

A LONDON OPINION.

(Received August 10th, 8.50 *

LQNPQN, August 1%.

The "Financial Times" regajdj tb« movement* in Australian stocks 4wlft? the year as amazing. It instances seine New South Wales issues, which have. advanced over 70 per cent, from *he lowest levels. - "Anstrftiia certainly shows more pf recovery than m<jst epustrieg," it States. "The trade balance is a great achievement, even though it most be ascribed rather to the curtailment of imports 'than tg the expansion of exports. An improvement in commodity prices is within the bounds of possibility, and the piospects ef sailing a larger season's clip are' brighter."

Tnchting. In the Monotype Yachts Championship final, the result was:—■ Holland ...' •■ 1 Prance .. • • 2 Spain .. •• 3 Germany .. r. 4 Canada ... •. 3 Britain • • .. 6 Holland secured 87 points. Final for the Star class boats: United States (46pts) ' .. 1 Britain (35pts) ■. .. 2 Sweden (27pts), equal .- 3 Canada (27pts), equal .. 3 France (26pts) .. •• ~> Holland (14pts) .- •• « South Africa (7pts) •• " Hockey Championship. Scoring goals faster than approximately 4000 spectators could count them India trouneed the United States by 24 goals to 1, to win their second successive Olympic field hockey championship. sabre Event. The Hungarian team retained the tsabre championship. Besults:^Hungary .. .. 1 Italy •• ..2 Poland .. ..3 United States 4 At water-polo, Hungarv defeated the United States.