Wool

Press, Volume CVII, Issue 31540, 30 November 1967, Page 14

Wool

Sir, —In an article commenting on the recently-im-posed high interest banking rates for commerce in Eng-

land, the writer states that “the buying of wool for stock becomes unthinkable”. The overseas buyer at wool auction sales has always been a risk-taker, and for this service his premium has always been high. With the advent of synthetics, precluding the possibility of cornering the market, it has become absurdly high. After this new imposition the species may become - extinct. Surely the time has come for New Zealand nationally to assume this role of risk-taker by placing our wool output at world centres where the manufacturer has ready access to it The primary processer, who is obviously going to shelter within the protection of the end-product manufacturer’s firm order, would not then be placed under the necessity of ringing 1.C.1. or du Pont for service.—Yours, etc., A. H. McELREA. Ashburton, November 28, 1967.