BETTER PROSPECTS

Nelson Evening Mail, Volume LVI, 12 April 1922, Page 5

BETTER PROSPECTS

WOOL DISPOSAL

ACCUMULATED STOCKS DISAP-

PEARING

The Minister of Agriculture (the Hon. W. Nosworthy) informed a representative of Tim Tost yesterday that he has received a. report from the New Zealand Committee that it has received a cable message from the managing director of the British-Austra-lianC Wool Realisation Association, Ltd., advising that the surplus stocks of wool in South America had been almost totally bought up, and that Argentine and "Uruguay are even barer ut wool than New Zealand. “During the past six months the sales of Now Zealand, Argentine, and Uruguay wools have equalled! a full year's clip. The actual consumption has not been so large, hut dealers are eager to lay in'cheap stocks, because they begin to realise that the annual production of crossbred wool is now substantially less than actual requirements, and that us Bawra. stocks disappear a. period of definite scarcity approaches. The British-Austratosian Wool Realisation Association predicts that prices for New Zealand wools in 12 to 18 months hence will be very substantially higher than present rates. “The New Zealand Wool Committee estimates that at the end 1 of May approximately only 45,(XX) bales of the 1920-1921 and 1921-22 clips will remain unsold in New Zealand, and at the present rate of shipment all the Imperial stocks of wool will have been ■slapped from New Zealand by the end of September.”