Stabilising Wool Prices Is Difficult

Northern Advocate, 25 May 1939, Page 2

Stabilising Wool Prices Is Difficult

'Per Press Association. Copyright.] WELLINGTON, This Day. Difficulties in the way of stabilising wool prices were referred to by the chairman of the New Zealand Wool Publicity Committee, Mr H. M. Christie, in an interview yesterday evening. A suggestion that stabilisation might be accomplished at least on an Empire basis by the establishment of a special pool like the Exchange Equalisation Fund in England was made in Auckland last week by the Dominion president of the Now Zealand Farmers’ Union. Mr W. W. Mulholland. Mr Christie said the question of stabilisation of wool prices had been considered after the Great War by Australian wool producers. The late Sir John Higgins, who had been chairman of the British Australian Wool Realisation Association, had advocated that very substantial funds held.by the association should be retained and a board established to control the funds and purchase wool when prices fell below a certain point. No Solution as Yet^ Stocks of wool would then be slowly liquidated when prices rose. ’ The latter was brought up again at. a recent conference in New South Wales, but so far no action has been .taken. Mr Christie said the question of making some recommendation ; which would tend to stabilise wool prices was given very full consideration by -the executive committee of the Australian, ! South African and New Zealand Wool I Councils, and by the secretariat arid ! advisory committee when they met Tn | - : z. .ijfv 1 London last year. ■ ** However, it was felt that no satisfactory solution could be. found at that time. No stone should be left unturned to at least iron out some of .the great undulations in wool prices.