PROSPECTS FOR WOOL

Manawatu Times, Volume 66, Issue 100, 29 April 1941, Page 8

PROSPECTS FOR WOOL

(Rec. 28, 10.45) LONDON, April 27. The prospects for the wool industry were the subject of an address to the Royal Society of Arts during the week. The speaker was Mr Foster Duplessis, representative of South Africa on the International Wool Secretariat. He summed up by saying that no immediate crisis was facing Dominion woolgrowers, but that South America was precariously placed. The United States, he added, was devoting huge sums to buying up South American surpluses. He predicted that the rapidly-expanding American armament programme and the unprecedented increase in the consumption of cloth* ing wool would cause the United States to draw increasingly upon the Australian wool reserve there. “Whatever America draws,” he said, “will be replaced in order to keep the reserve at 250-million lb. “It seems inevitable that the postwar reconstruction will include international economic co-operation and effec-i tive control of industry.”