THE WOOL MARKET

Hawera & Normanby Star, Volume LXXVIII, Issue LXXVIII, 14 June 1919, Page 5

THE WOOL MARKET

SURVEY BY EXPERTS

STOCKS SUFFICIENT

BY CAI'LE-PEESS ASSOCIATION-COPYEIGHT (Aus.-N.Z. Cable Assn.) LONDON, June 13. Mr Golciiinch, speaking at the Wool Council, regretted that the council's programme had failed to stabilise prices, but instead had resulted in an eager demand for wool and tops ai issue prices. The consumers were not benefiting, because the auction prices were governing the pnce.s of manufactured goods. Mr Goldfinch anticipated an early improvement, and pointed out that imports in tiie five months ended May included 1,3,0,000 bales of Australasiau wools, probably a, record. The 'estimated total stocks in England were over three hundred million pounds. The weight was amply sufficient for the country's own personal purposes, and also.for the Continental department. They were endeavoring to raise the monthly auctions to 160,000 bales, and arranging a supplementary issue of 100,000 bales for June. He anticipated, that offerings by the end of July would exceed the trade's capacity. The demand for tops had outstripped the output, and it would not bo surprising if Australia and the United States began to send tops. The cessation of rationing meant practically the cessation of control. The schedule was out of date. He suggested a committee to fix a new schedule at a moderate percentage below the prices established at the three latest auctions. The department was striving to increase the quantity offered at auctions, so that by this means, within two or three months, the values might be reduced 15 to 20 per cent. The Government might Tiold auctions at Antwerp, and increase the volume of distribution. Mr Goldfinch added that Germany would soon be entitled to receive a certain quantity of Australasian wool. Mr Eaynor moved a recommendation that there be no further issue of colonial wool for civilian purposes, except at present ascertained prices, namely, 20 to 25 per cent above the issue prices. The discussion was adjourned