WOOL PURCHASES

Dominion, Volume 29, Issue 207, 29 May 1936, Page 11

WOOL PURCHASES

Australian Comment On Japanese Decision OTHERS MAY TAKE MORE (Received May 28, 10.15 p.m.) Sydney, May 28. The report that Japan has decided to reduce her annual taking of Austra--11 . wool to 250.000 bales by buying in South Africa and New- Zealand is regarded as drastic in wool circles at Sydney, but it is contended that buy ers from other ountries who operate in South Africa and New Zealand will be compelled to transfer some of their obligations to Australia, as supplies in any quarter cannot automatically be increased. It is also argued that, if Japan buys more extensively in Africa and New Zealand she will find it necessary to change the class of fabrics she chiefly produces. Top-making wools will mainly be affected by the Japanese decision to boycott Australian wool. The fact that the Japanese do not Intend to attend the Melbourne June auctions is not regarded very seriously by wool-buying brokers, who are discussing the whole question of trade with Japan early next, month. REDUCING BUYING Japanese Not Going To Melbourne Sales (Received May 2S, 10.15 p.m.) London, May 28. The Tokio correspondent of the “Financial Times” says it is understood that tlie Japan Wool Industry Association decided to reduce its annual takings of Australian wool to 250,000 bales, making up the difference by buying in South Africa, New Zealand. and South America. Japan will not participate in the Melbourne June auctions, sending employees to South Africa and South America to start buying In August. “IMITATING NAZIS” ‘New York Times’ Comment (Received May 28. 10.15 p.m.) New York, May 27. The “New York Times,” in a leader, says that the Australians seem to be imitating the Nazi policy of trying to secure a balance of trade with each country which policy, if spread internationally, would be more ruinous to Australia than to most countries. “If it thinks its direct trade with us is lopsidedly in our favour, it should recall that its direct trade with many other countries is just as lopsidedly in its favour.”