WOOL TEXTILE IMPORTS

Press, Volume XCVII, Issue 28551, 2 April 1958, Page 17

WOOL TEXTILE IMPORTS

British Industry Critical New Zealand's restriction of imports of wool textiles is injurious to the cause of wool in general, says a newsletter from the British wool textile industry. The newsletter, which says that New Zealand's restrictions tend to cause a shortage of cloth of the right design and to intensify inflation, is signed by Mr W. Ward, chairman of the Wool Textile Delegation, and Mr E. C. Behrens, chairman of the National Wool Textile Export Corporation. "The New Zealand wool textile industry, which employs a large labour force, has for many years received protection through import duties and since 1955 from the import licensing of wool products,” says the newsletter. "The results of this licensing, however well administered, have been unfortunate. “Imports of wool cloth have been limited, whereas till recently those of cotton and synthetic cloths have been free. Because some cotton and synthetic cloths can be used in place of wool, their' consumption has increased at the expense of wool, to the i disadvantage of the wool grower, the New Zealand manufacturer, and the United Kingdom manufacturer." Wide varieties of qualities and design could not be produced economically in New Zealand if resources of men, machinery and material were to be used to their best advantage. Any substantial growth of the New Zealand wool I textile industry through more quota restrictions would be unfortunate from many points of view. United Finance.—The United Finance Corporation’s preference, ordinary, and deferred ordinary shares have been listed, on the recommendation of the Dunedin Stock Exchange .—(P.A.)