WOOL PRICES.

Manawatu Times, Volume XLIII, Issue 14141, 14 June 1919, Page 5

WOOL PRICES.

A Puzzling Problem. EXPERTS TENDER ADVICE. [By Electric Gable—Copyright.] [Aust. and N.Z. Cable Association.] (Received Friday, 9.30 p.ns.) LONDON, June 13. Mr Goldfinch, speaking before tho 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 at issue prices. Consumers wore not benefiting because auction prices were the governing prices of manufactured goods. Mr Goldfinch anticipated an early improvement and pointed out that the imports in the five months ended May included 1,370,000 bales of Australasian wools, probably a record. He estimated that the total stocks in England, over 300 million pounds in vs eight, would be amply sufficient for the country’s own purposes; also for the Continental department. They were, he said, endeavouring to raise the monthly auctions to .160,000 bales and were also arranging a supplementary issue of 100,000 bales for June. He anticipated that the offerings by tho end of July would exceed tho trade’s capacity. The demand for tops had outstripped the output, and it would not be surprising if Australia and the United States began to send tops. The cessation of j rationing meant practically the cesaa- j tion of control. The schedule was out | of date, and he suggested that the Com- j mittoe should fix a new schedule on a moderate percentage below the prices j established at the latest auctions. The ! Department was striving to increase | the quantity offered at auction, so that j by this means -within two or three j months values might be reduced 15 to 20 per cent. The" Government might hold auctions at Antwerp and increase \ the volume of distribution. j Mr Goldfinch added that Germany would soon be entitled to receive a ccr- j tain quantity of Australasian wool. Mr Raynor moved a recommendation j that there should bo no further issue of < colonial wool for civilian purposes, except at present ascertained prices, namely, 20 to 25 per cent, above issue prices. The discussion adjourned.