WOOL CONFERENCE

Greymouth Evening Star, 24 June 1925, Page 5

WOOL CONFERENCE

SIR J. HIGGINS’S PLAN. (Australian and N.Z. Cable Association.) MELBOURNE, June 24. A conference of all sections of the wool industry commenced to consider the scheme of Sir John Higgins for the stabilisation of wool values. Before the conference of wool growers, Sir J. Higgins submitted a scheme for stabilisation and regulation of Australian wool values. The main proposals were that the wool growers of the Commonwealth should voluntarily form an association, mutual in character. for the purpose of giving as far as practicable greater regularity and greater stability to wool values ; that such an association should acquire wool clips by appraisement methods to the realisation of such wool clips to be made under the direction of the association by proper technical and collective marketing methods ; that all receipts and expenses be recorded by the association and the balance distributed as payment for wool acquired. Sir J. Higgins suggested that the capital should be fifty millions, half in wool certificates, and half in £1 shares. The initial arrangements for the fund would be made in London. The Federal Government would be asked to guarantee the association until sufficient capital had been subscribed. Sir J. Higgins considered that the Federal Government would be justified in asking the Imperial, New Zealand and South African Governments to co-operate. Tn wool circles it is considered probable that the scheme will be adopted with modifications.