THE WOOL COUNCIL.

Otago Daily Times, Issue 17712, 25 August 1919, Page 5

THE WOOL COUNCIL.

REVIEW OF THE SITUATION. (FbOM OUB Own CORBBSPOKDHW J LONDON. June 30. At the seventh meeting of the Wool Council last week tte chairman, Sir Arthur Goldfinch, stated mat the statistical position of Australian and New Zealand wool in Great Britain was quite as good as anyone could expect, and seemed to indicate that the inflated prices paid at the auctions were not justified and would tend to rectify themselves. In the five months ended Mav 31, 1,270,000 'bales of Australian and New Zealand wool, which.was about half of one year's exportable surplus from the two dominions, iiad been received in Great" Britain, which was probably more than had ever beforo been imported in a similar period. The department intended to keep up the flow of wool from Australia and New Zealand at a rate somewhat in excess of deliveries, and British wool is now coming in rapidly, so thai these stocks, although, largo, would probably show a considerable increase. Stocks of wool in England, taken in bulk, were amply sufficient for all-round purposes, and although the scarcity on the Continent was undoubtedly great, there was every reason to believe that England would be able to supply their requirements quito as quickly as they could carry away the wool and pay for it. The Chairman suggested that it might be necessary in the immediate future to make arrangements for the sale of Government wool by auction in Antwerp «ae the best available means of increasing the volume of distribution. More especially as we were very near the moment probably when Germany would become entitled to receive a certain quantity of Australian and New Zealand wool. He did not much Kka the idea of diverting a portion of the bnsiness from British ports to Antwerp, but they must face facts, and if British auction facilities had reached their limit Antwerp was entitled, both geographically and politically, to get the first call upon the surplus business.