WOOL SPECULATION

New Zealand Times, Volume LII, Issue 12239, 10 September 1925, Page 5

WOOL SPECULATION

LOSSES AS WELL AS PROFITS THE BRADFORD VIEWPOINT. Australian and N.Z. Cable LONDON, September 8. The ‘Yorkshire Post,” commenting pu the proposal of the Wool Itederation to entertain Sir John Higgins at a dinner at Bradford, says: “Now that the wool growers have sealed the fate Df the latest proposal to establish some Form of control, we hope that the wool trade will not be further worried by any uncertainty arising similar to the proposals of those engaged in the wool trade. I “The wool and textile industries ( throughout the world are anxious to settle down to stable methods of business, and it will be the best for all concerned if disturbing outside factors are drastically eliminated. The importers cannot hope ever again to be allowed to have quite the_ same scope m speculation in Australian wool as was the case in the past, when speculators were able to use their capital to good advantage by acquiring wool and holding for a rise.

“Wool growers row believe that by clearing their wool in too short a selling season they allowed themselves to be exploited by speculators, but they keep too much in mind the profits made in rising markets, and take too little heed of losses from falling markets after much of their wool has been sold, and before it can be put into consumption at the various textile centres. WHat happened this year must have inade them realise that there are two sides to this question, and that there are often big risks m carrying woo] well as profits.”