WOOL INDUSTRY
BURDEN OF HIGH COSTS. NEED FOR DRASTIC REDUCTION. STABILISATION SCHEME. (United Press Association—By Electric Telegraph.—Copyright.) Received August 20, 9.25 a.m. SYDNEY, Aug. 26. Mr F. W. Hughes, grazier, woollen manufacturer and frozen meat exporter, giving evidence before the Wool Inquiry Committee, declared that interest, labour costs, rail and sea freights and taxation must bo drastically cut to onablo wool prices to return to a paying basis. Ho suggested a scheme to equalise the offerings over the years of peak production and the years of drought. He emphasised that the rate of taxation on persons trying to carry on large scale transactions crushed initiative and retarded progress.
BRADFORD MARKET. A FIRM TONE. Received August 26, 11.20 a.m. LONDON, Aug. 25. The Bradford wool market is firm. Business in fino sorts is quiet, awaiting the opening of the Australian season. There is rather more business in crossbred. To-day's quotations eomparo as follow with those previously cabled: — August
4th. 11th. 18th. 25th.
Per lb. Per lb. Per lb. Per lb Seventies . ... 23 23 23i 24 Sixty-fours .. 22 22 22 22 i Sixties ... 21 21 21 21g Fifty-sixes ... 17 17 17 17 Fifties ... 12 12 Hi ili Forty-sixes .. 9i 9 4 10 10 Forties .... ... 9 9 9 9
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Bibliographic details
Manawatu Standard, Volume LII, Issue 228, 26 August 1932, Page 7
Word Count
206WOOL INDUSTRY Manawatu Standard, Volume LII, Issue 228, 26 August 1932, Page 7
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