B.A.W.R.A. WOOL.

Manawatu Times, Volume XII, Issue 1807, 4 May 1921, Page 5

B.A.W.R.A. WOOL.

A SPOON-FED MARKET.

[By Electric Cable —Copyright.]

[Aust. and N.Z. Cable Association.] LONDON, May 2.

A leading importer, when interviewed by t lie Australian Press Association regarding the wool discussion in the Federal Parliament, stated that Australia would make a hopeless mistake if she attempted do settle the wool difficulty by legislation, especially if it was in the direction of'stoppng shipments. It was useless to keep the wool in Australia, and the only hope for the trade was to export. He approved of the suggestion to sell to impoverished countries on long credits, and said this method would undoubtedly get rid of much stock, for there was a great shortage throughout the world, especially in Central Europe, of moderate priced made-up ,material. The suggestion that Australia should purchase all the other wool was abso. lutcly impracticable, for where could Australia find the money to enable her to do so? He cordially welcomed the B.A.W.R.A’s. decision to fix the reserves on the basis of the April closing prices.

Another wool importer, when interviewed by the Australian Press Asso. elation, expressed the opinion that the Australian legislation, which aimed at circumventing the lean time inherent in the transition from waV to peace conditions, would not prevent, but would only postpone and prolong the agony. He believed that the bottom values reached, which had begun in Yorkshire, but now interrupted by the coal strike and the reparations uncertainty, would shortly reappear. The only hope of selling “8.A.W.R.A.” wool, without a further slump, was on a spoon-fed market, like an invalid, with the quantities absorbable. In meeting new price levels the pastoralists must realise that they had had a good innings. There was no way out of the present bad times except to go through them.

QUOTATIONS FIRMER,

The Bradford wool market shows a fairly good tone and quotations are firmer, but business is quiet pending the London opening.

CABINET CONSIDERS PROBLEM.

MELBOURNE, Last Night. The Federal Cabinet is considering the problem of the B.:A.W.R.A. wool accumulation, and the marketing of the new clip.