DOMINION WOOL

Evening Post, Volume CII, Issue 35, 10 August 1921, Page 6

DOMINION WOOL

FAVOURABLE PROSPECTS

MR. MASSEY'S VISIT TO BRADFORD.

(UNITIB PRESS ASSOCIATION.—COPTM6HT.)

(AUITfcALIAN - NEW CAILB ASSOCIATION.)

(Received August 10, 2 p.m.)

LONDON, 9th August,

The Australian Press Agency interviewed Mr. Massey, who said: "The impression I received after ■ meeting the principal leaders in the Bradford wool trade, who discussed the position with me publicly and privately with the completest frankness, was that there is every reason to believe that the low prices cannot last long after ttie Continental markets are ■■ re-opened. Germany is ' already developing a considerable demand for New Zealand wools. Poland and Russia are suffering an unprecedented shortage in clothing and must ultimately'be reclothed, unless al» lowed to perish from cold during the approaching winter. Furthermore, the world's present output of wool is unequal to pre-war supplies; also there is a common shortage which must create a demand for wool. The last present trouble regarding New Zealand wool arises from the accumulation of British Government stocks, equal to one season's clip. In the present state of British finances there is always a possibility of the wool being marketed with a view to cutting a loss. Bradford stocks are low, and I understand wool speculators already are beginning to operate, in anticipation of a rise. Reports from the Argentine indicate that cattle are supplanting sheep, because the latter are unprofitable. All influences are co-oper-ating in favour of New Zealand wool prospects when the present slump is passed over, ■ .■ -