OUTLOOK FOR WOOL

New Zealand Herald, Volume LXIII, Issue 19456, 12 October 1926, Page 12

OUTLOOK FOR WOOL

HANDICAP OF COAL STRIKE. RUSSIA ENTERS THE MARKET. DULL AMERICAN CONDITIONS. The opinion that the approaching wool season will be a good one if the coal strike is settled was expressed by Mr. Frank P. Clark, New Zealand wool buyer for Francis Willey and Company, Bradford, and American firms, who returned by the Niagara yesterday after a visit to his principals. Mr. ("'lark said coal was costing between 200 and 300 percent. more than in normal times and this was a very serious state of affairs for English firms in competition with foreign firms, which were proceeding under normal conditions. While Mr. Clark was in London in June and July New Zealand medium crossbred wool was being sadly neglected. However, tho finer sorts held their own Under Continental competition. In August Russia came into the market, and bought much medium quality wool, giving the market a healthier tone, and tending to advance prices. Asked whether he thought there was any likelihood of the coal position being settled shortly, Mr. Clark said tho trouble had been going on for about forty weeks now and it was forty weeks nearer settlement. He thought the approach of tho cold weather in England would rouse the public against the miners, perhaps leading to a settlement. If the strike were not settled hu did not think the good prices would bo maintained. Tho bad position of the wool market in America was touched upon by Mr. Clark. America was faced with the problem of over-production and he left Boston with tho impression that there would be a lull in buying on the part of American firms. This was serious because the Americans bought up much of the best wool. PROPOSED CONTROL SCHEME. FURTHER ACTION DEFERRED [BY TELEGRAPH.—OWN CORRESPONDENT.] MASTERTON, Monday. Commenting on the recent statement by the Minister of Agriculture regarding the proposed formation of a wool organisation Board, Mr. L. T. Danicll, who has been closely connected with tho movement from the producers' side and who sponsored a remit to that effect at both tho provincial and Dominion conferences of the New Zealand Fanners' Union, stated to-day that further action was being deferred until tho return from Great Britain of Mr. Bernard Tripp. "Mr. Tripp is not only a member of the existing New Zealand wool committee, but has attended the Bradford con•ferenco as a representative of the New Zealand Sheep Owners' Federation," observed Mr. Danicll, "and doubtless he will bring back particulars which wilT bo of assistance when the matter is again being discussed." Mr. Danicll added that two schemes had been promulgated, an amalgamation with the soundly-established Meat Control Board, or a widening of the powers of the existing Wool Committee.