U.S. DEMAND FOR WOOL

Press, Volume LXXXVI, Issue 26198, 23 August 1950, Page 6

U.S. DEMAND FOR WOOL

BUYING METHODS DISCUSSED

INTEREST OF STATE DEPARTMENT (N.Z. Press Association—Copyright) (Rec. 11 p.m.) LONDON. August 22. Although Britain is not directly concerned .in the discussions now taking place in Washington about the methods of purchasing wool to increase the United States stockpile for military purposes she is vitally interested, says the New York correspondent of the “Daily Telegraph.” It was reported in Congressional circles in New York, he says, that the State Department had been urged to make representations to Britain and the Dominions for assistance aid advice. x The aim is >to build up stocks with the least possible disturbance of the market. 7 The correspondent reports that “purely exploratory” talks had been held by American and Australian officials. “Unusual secrecy has been maintained concerning the talks but wool prices have risen sharply under heavy buying inspired by expectations of Government stockpiling, the correspondent added. “Some e X p&ts ih New York think that if the Americans need wool the best way is to enter the auctions and buy at least their initial needs in competition with other buyers.”