WOOL POOL

Grey River Argus, 25 June 1925, Page 5

WOOL POOL

THE NEW PRGJIW I'. (Aus. aud N.Z. Cable Association.) MELBOI RXE, June 24. A conference of JI sections o the wool industry commenced to consiu er the scheme of Sir John Higg.ns for the stabilisation of wool value. Sir J. Higgins subini’.ted h > scheme for stabilisation and regulation d Australian wool values. Iho mai’n proposals were that the wool growers of tile Commonwealth should voluntarily form an association, mutua; Pi character, for the purpose of giving as far as practicable greater regularity and great stability to w- >1 Values; that such an association sh< nld acquire wool clips by appraisement methods to the realisation of such 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- balances distributed as payment for wool acquired. Sir J. Higgins suggested that he capital should be fifty millions, halt in wool certificates, and half in X*l shares. The initial arrangements lor the fund would be made in London The Federal Government would be asked to guarantee the association until sufficient capital had been sub scribed. Sir J. Higgins considered that tiie Federal Government would be justified in asking the Imperial, New Zealand and South African Governments to co-operate. In wool circles it is considered pro. bablc that the scheme will he adopted with modifications.

NO DECISION. (Received June 24 at 8.50 p.m.) MELBOURNE, June 24. Representatives of the Australian Wool Council and of the Graziers Fed. oral Council conferred with the Na. tional Council of Wool Selling Brokers on Sir J. Higgins’ scheme. The : conference adjourned until to.morrow i without reaching a decision.