WOOL MANUFACTURER’S DISLIKE HOLDOVER POLICY.

Horowhenua Chronicle, 13 September 1930, Page 8

WOOL MANUFACTURER’S DISLIKE HOLDOVER POLICY.

DISCUSSION AT INTERNATIONAL CONFERENCE

Received Friday, 9.5 p.m. LONDON, Sept. 11.

The special correspondent of the Australian Press Association at the International Wool. Conference at Liege says suggestions were made regarding Australian sales by Vervier M. Dubrulle, who said the holdover policy had proved unsound. The Council of the conference considered it advisable to oppose any endeavour to create uneconomic values by holding over part of one season’s clip to another. The Council favoured the extension of the selling period provided a reasonable interval was arranged between seasons to renew personal contact with customers.

Mr. W. P. Devereux, of Australia, said the growers' organisations in dealing with the October situation, decided it was better in view of the apparent inability of manufacturers to absorb wool as offered to reduced the offerings and extend the season, but otherwise to allow the laws of supply and demand to adjust the position.

The speaker, defending this policy, said the result had been beneficial as low prices must stimulate consumption, Further, practically the whoSe of the Australian clip had gone into consumption. *' The conference passed a resolution directing the attention of wool-produc-ing countries to ...the fact that restricted sales would diminish confidence.