WOOL INDUSTRY.

Hawera Star, Volume XLV, 13 May 1925, Page 9

WOOL INDUSTRY.

EXPERTS FALL OUT. SIR A. GOLDFINCH CRITICISED. BY CABLE—PRESS ASSOCIATION—COPYRIGHT. (Received May 13, noon.) LONDON, May 12. Mr AkrOyd, past president of the Bradford Chamber of Commerce, in. a letter to the Yorkshire newspapers protesting against . Sir A. Goldfinch being quoted as an authority on the wool situation, says: ‘‘Sir A Goldfinch has now assumed the position of adviser to the wool trade. I feel I am expressing the feeling of the whole textile trade when I say that Ive are heartily sick of his assumptions regarding the rise and fall of stocks of wool. It has been proved, without question, that the wool trade cannot be conducted with a paper and pencil in an office. Those who have been foolish enough to follow Sir A. Goldfinch’s guidance during the last six months are at present suffering- bitterly therefrom. I respectfully suggest that the time has come for him. to retire and leave the textile trade to look after itself, as to continue fathering an industry of such magnitude without experience in the textile trade is more than any of us are prepared to accept.” — A. and N.Z. Assn.

CLAIMS HE WAS CORRECT.

SIR A. GOLDFINCH’S-REPLY. *

(Received May 13, 9.45 a.m.) LONDON, May 12. Replying to Mr Akroyd’s letter, cabled on the Bth inst., Sir A. H. Goldfinch says: “I have been watching the .wool position since .1921 as delegate and representative of a largo section of Australian wool growers. My diagnosis o.f the position from 1921 to 1924 has proved to be singularly accurate. I acknowledge this year that the' course of the market is riming counter to my expectations, but this only proves that I am not infallible. I intend to continue to watch the wool position and comment publicly thereupon whenever and in whatever manner I consider right.”—A. and N.Z. Assn.

CURTAILMENT OF SALES,

RELIEF TO MANUFACTURERS

(Received Mav 13, 11.30 a.m.) London, May 12. The Yorkshire Post’s Bradford correspondent says: “The curtailment of the sales has lifted a load off the market, as the manufacturers were fearing that a, continuity of the sales would cause a further decline in prices, and with their financial resources locked up in heavy stocks manufacturers would have stood aloof. Thus the position of the consumption and trade is made to appear worse than it actually is. This is all the result of a lack of confidence in wool values. Nobody now disputes that there is no wool famine; really it was the recognition of this fact which had caused the recent decline in value as uneconomic and extreme, as wasi the reverse to usual experience for November. A good many millions were lost in the first half of the season, necessitating assistance in either financing or carrying over stocks to the second half.

“Wool growers are now carrying n surplus, -hut it will be fatal if the growers yield to outsiders with taste for wartime control. If values can be stabilised on the present basis for a period business in tops, yarns and piece goods so far held hack will soon he placed more freely. Already the tone is more cheerful.” —A. and N.Z. Assn.