WOOL POSITION

Hawke's Bay Tribune, Volume XX, Issue 73, 10 March 1930, Page 5

WOOL POSITION

HOLDING OFF DEPRECATED NEED FOR LARGER CONSUMPTION. COMPETITIVE FIBRES. (United Pre»*B Association—By Cable—- • Copyright.] (Received 10, 11.20 a.m.) London, March 9. Regarding the wool position, the “Yorkshire Post” says: “If Australian growers accept the advice of their wisest leaders they will have nothing io do with such a scheme as that under which 400,000 bales will be withdrawn from the market. The great nee J of the trade to-day is for larger consumption, and the withdrawal of 400,1X10 bales would defeat that object. Assuming that it is practicable to keep such a quantity off the market, the inevitable result, would be to open the door to an equivalent quantity of competitive fibres Such as artificial silk, wool and cotton. On the pther hand, only a very small increase in the public demand for wool clothing, stimulated by a fall in the cost of the finished article would account for absorption of 300,000 bales in no time. Everything points irresistibly to the conclusion that for improvement of the wool industry- an increase in machinery activity and employment, and possibly even a rise in the price of raw material sufficient to satisfy growers--we must look to augmentation of the ultimate demand, which can only come about when retail prices, which are quite out of touch with presentday realities, have been so drastically modified that the public will buy freely.