Wool for China

Manawatu Times, Volume 60, Issue 175, 27 July 1935, Page 12

Wool for China

An Australian company was formed last year with the object of buying info woollen mills in China, the intention being to thereby have a voice in their policy and to so encourage the consumption of Australian wool.

The company has now decided to abandon that policy but to raise a capital of £30,000 and act as wool merchants. The new title of the company will be the China Wool Trading Company, Ltd.

The surest and most permanent way of increasing prices was by widening the demand, stated the chairman. The best way of widening demand was by opening up new markets. In the case of wool this was doubly essential, for it was only too evident that the use ot substitutes was restricting the market in Europe. Australia produced barely one pound of clean wool for each resident of China. A report prepared for the company showed that China was now controlled by a stable Government, and wanted Australian wool.

The general scheme, concluded the chairman, was to get the Chinese acquainted with Australian wools. It was hoped to open lip an avenue to displace the padded cotton garments with wool.

We congratulate the Australians upon their enterprise and sincerely wish them every success.