WOOL RESEARCH

Evening Star, Issue 22559, 29 January 1937, Page 12

WOOL RESEARCH

INTERNATIONAL FUND CREATED [Pee United Press Association.] WELLINGTON, January 29. Mr H. M. Christie, M.P., returned from Sydney by the Awatea, after attending tho recent wool conference as chairman of the New Zealand delegation. He said there was intense interest in Australia in what the New Zealand Labour Government was doing, and there was a generally expressed hope on all sides that its efforts would prove successful and that the results would be permanent. There was also a general desire for Closer co-operation with New Zealand, particularly in the matter of defence; and people were anxious, too, that the trade differences between the two countries should be settled. He said that the wool conference had agreed to establish an international publicity and research fund, to be administered jointly by Australia, New Zealand, and South Africa. The conference achieved much of a practical nature. A fund had been created which would be devoted to research and publicity throughout the world. The councils will contribute to tho fund on the basis of the average quantity of wool exported, calculated over a period of five years. Subject to confirmation, on the preliminary figures submitted, the quota contributions for the ensuing year will be: — Australia, 60.5 per cent. South Africa, 20.5 per cent. New Zealand, 19 per cent. It is hoped that the secretariat will start work by the beginning qf July, At present wool prices are on a satisfactory basis, and it should be stressed that the intention of the research and publicity campaign is not to attempt to raise prices above an economic level. Such a course would defeat its own ends, and this fact is thoroughly appreciated by all concerned. However, the conference was convinced that the present level of prices is not based on a very secure foundation, and that wellconsidered action along the lines proposed is necessary to make the future of wool secure.