WOOL CRISIS

Evening Post, Volume CIX, Issue 102, 4 May 1925, Page 6

WOOL CRISIS

LAST WEEK VERY BAD

PRICES MUST BE STABILISED,

(UNITED PRESS ASSOCIATION—COPIRIQHT.)

(AUSTBAUAN-SEW ZEALAND CABLE ASSOCIATION.) (Received 4th May, 2-p.m.) LONDON, 3rd May. The "Daily Telegraph's"' wool cor--espondent says that conditions in the wool trade are critical, and the past week is the worst in tho memory of the present generation of wool men. A bold attempt must be made to secure stabilisation, otherwise disaster will overtake the whole industry. Merino tops last week slumped 6d, which has never previously occurred in a single week, and crossbreds dropped 2d. To come into line with the Bradford top prices, merinos at the forthcoming sales must decline by 15 or 20 per cent., medium crossbreds 25 per cent., and low grades 20 to 25 per cent. Bradford pessimists profess that they are unable to see the bottom of the market, and forecast that the sales, will only last a week. If the position is as bad as that, it 13 high time the sales in Australia were closed and the wool held till users tire of waiting and show a real desire to buy.