AUSTRALIAN WOOL.

New Zealand Herald, Volume LXVII, Issue 20668, 13 September 1930, Page 11

AUSTRALIAN WOOL.

RESTRICTION OF OFFERINGS.

DISCUSSION AT CONFERENCE

(Received September J2, 10.15 p.m.) LONDON. Sept. 11

A special correspondent of the Australian and New Zealand Press Association at the International Wool Conference at Liege says suggestions were made regarding Australian salos bv M. Vervicr M. Dubrulle, who said the hold-over policy had proved unsound.

The council of the conference considered it advisable to oppose any endeavour to create uneconomic values or to hold over part of one season's clip to another. It favoured the extension of the selling period, provided that a reasonable interval was arranged between the seasons to enable buyers to renew personal contact with customers.

Mr. W. P. Devercux (Australia) said the. growers' organisations■ in the Commonwealth, in dealing with the October situation, decided that it would he better, in view of (he apparent inability of the manufacturers to absorb wool as offered, to reduce their offerings and extend (he season, but otherwise to allow (he laws of supply and demand to adjust the position. In defending this policy he said the result had been beneficial, as low prices must stimulate consumption. Further, practically the whole of the Australian clip had gone into consumption.

Tlio conference passed a resolution directing the attention of the wool-pro-ducing countries to the fact that restricted sales would diminish confidence.