ARTIFICIAL WOOL

Greymouth Evening Star, 20 December 1934, Page 7

ARTIFICIAL WOOL

MENACE TO FARMERS AN EXPERT’S ESTIMATE [BY CABLE—PBESS ASSN.—COPYRIGHT.] (Recd. December 20, 2.15 p.m.) SYDNEY 1 , December 20. Mr K. M. Niall, presiding at the Goldsbrough Mort meeting of shareholders, said the statement that Australia need not fear substitutes for wool, were to be deprecated. Granted that to-day these substitutes are far from ideal, there is nothing to say tha within a very short period, science will not produce something containing the main virtues of wool as an article of clothing. The German Government is financially interested in these substitute-producing factories, and if Germany refrains from competing on the Australian market, the effect on the value of our finer wools can be readily imagined. Immediate action should be taken in the endeavour to arrive at some mutually satisfactory trade agreement. Mr Niall added that the wool market was down approximately 33 per per cent, on values ruling this time last year. It did not seem likely that any material enhancement in values could be expected.

JAPANESE FACTORIES TOKIO, December 19. The Kurashiki Cotton Spinning Company and Kurashiki Silk Textile Company have bought thirty acres at Tsu for the erection early next year of mills to produce artificial wool staple fibre. JAPANESE PURCHASE. OSAKA, December 19. A decision to purchase twenty thousand bales of South African wool during the year 1935 is announced by the Tokio Chamber of Commerce. SYDNEY WOOL SALES. SYDNEY, December 19. At to-day’s wool sales, 11,484 bales were offered. There were 11,199 bales sold, and also 616 bales privately. Competition was well maintained, and good clearances were effected. The prices for all well grown wools ruled in the sellers’ favour. Greasy merino made twenty pence, equalling the season’s record price.