BEAR SELLING OF WOOL
A PERNICIOUS PRACTICE WORLD PRICE ONLY SOUND BASIS (United Press Association—By Elcctrio Telegraph—Copyright) LONDON, 14th December. “The selling of wool for a fall, which has arisen in recent years in the Australian markets, is a pernicious practice,” said Mr M. H. Pickles, president of the British Wool Federation, at a meeting of the Bradford Textile Society. He added that the bear seller helped to kill confidence and established an artificial basis of values, preventing others from obtaining a return based on the world price, which was the only sound basis. Some Continental houses had introduced the practice, of which English operators were not guilty. “I am pleased that it proved expensive for them last season. This added price at which wool sells in world competition should be the basis of costings, but a dangerous element is being introduced if that price is made the plaything of gamblers.”
Such of the cable news in this issue as is so headed has appeared in "The Times” and is sent to this paper by special permission. It should be understood that the opinions are not those of "The 'Junes’’ unlesn expressly elated to be so.
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Bibliographic details
Nelson Evening Mail, Volume LXX, 16 December 1936, Page 12
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196BEAR SELLING OF WOOL Nelson Evening Mail, Volume LXX, 16 December 1936, Page 12
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