NOT "BEARING" WOOL

Evening Post, Volume CIX, Issue 7, 9 January 1930, Page 12

NOT "BEARING" WOOL

BEADFOED DISCLAIMEE GROWERS ADVISED TO EXPORT Cnlted Press Association—By Electric Telegraph—Copyright. (Received 9th January, 10.15 a.m.) BRADFORD, Bth January. Mr. George Whittaker, in addressing the British Wool Federation upon his reelection to the presidency, replying to the suggestion of the Australian Press Association that the decline in wool values was due to a "bearing" movement on the part of Bradford, said this was erroneous. The fact was that the past two seasons,! and, last season in particular, resulted in heavy losses to all holders of stocks of wool tops. It was therefore natural, when the new clip reached the market, that everyone operated with increased caution. Some firms had lost so much that they could not send buyers to Australia. He adhered to the advice given to New Zealand, that the alteration in the sales quota was more likely to reduce than to increase prices. He recognised that growers were averse from sending their wool to London in bulk, but if they sent moro to the July and September sales in London it would probably be more profitable to them than selling almost everything in the Dominions.