CONTROL OF WOOL STOCKS

New Zealand Herald, Volume LVIII, Issue 17662, 24 December 1920, Page 7

CONTROL OF WOOL STOCKS

AUSTRALIAN PROPOSAL. FEDERATION ATTITUDE. PROTECTING THE GROWER. By Telegraph Press Association—Copyright. (Received 7.15 p.m.) A. and N.Z. LONDON. Dec. 22. Colonel f\ . Willey, a former Controller of Wool Supplies and an influential member of the British Wool Federation, states that he hopes the federation will endorse the Australian realisation scheme. Interviewed by the Australian Press Association, he said he considered the scheme would be to the interest of the whole wool and textile trade. It was to the interest of British industry that the Australian and New Zealand pastoralists should not suffer a set-back. Abnormal conditions justified ' exceptional handling. He did not believe a further decline in values would improve ' the position by stimulating a demand for ' c^ot h. Consequently growers and manu- , facturers alike would benefit bv the scheme, which promised less harm to textile interests than others might. Colonel Willey said it was assumed that the association's holdings would be interspersed with free offerings. It would be unreasonable to insist on a predirection oi policy. Reasonable discretion must be accorded to the directors, otherwise the most competent men would decline the othce. lhe representation of the textile trade on the board would assure that its interests and advice would not be neglected. GOVERNMENT SUGGESTION. SAXES ON THE CONTINENT. 1 Australian and N.Z. Cable Association. (Reed. 540 p.m.) LONDON. Dec. 22. The Yorkshire Wool Federation interviewed Lord Inverforth, Minister of Supply, to-day regarding the position in the wool industry. The deputation asked for a complete explanation of the Australian proposal, and whether the British Government was sympathetic or whether it intended to resort to the expedient oi selling wool stocks to Germany. After what Colonel Willey, the loader of the deputation, described as a full and frank discussion by both sides of the deputation, it was decided to report to the executive at Bradford to-morrow before > Jurther action was taken. l _ * s understood that the Government Wool Department is in favour of selling ; low grade stocks to Germany and other Continental buyers on long credit, but considers it would not be politic on the s j part of a Government department to take , part in such a transaction, which could be more properly undertaken by commercial organisations.