THE WOOL TRADE

Otago Daily Times, Issue 18198, 19 March 1921, Page 9

THE WOOL TRADE

ANXIOUS TIMES AHEAD. APPEAL TO WOOLBROKfiRS. Pz««s Association—By Telegraph—Copyright. MELBOURNE, March 18. Sir John Higgins, in an appeal to the woolbrokers, predicted anxious times dur - ing the ensuing two or three years. The Realisation Association in that' period would be/ confronted, he said, with more wool than the trade was capable of buying or absorbing. The closest attention was necessary for the simultaneous marketing of the old and new clips to ensure proportionate sales, to guard the respective interests, and to secure reasonable prices for merino, wools, also. to minimise the loss on crossbreds. Approximately 500,000 bales had been offered at the Aus tralian auctions since October, and 65 per cent, were sold. Eight hundred thousand of the 1920 din were awaiting sale in Australian warehousesr The position was one of gravity. The directors of the association, while advocating the temporary stabilising of the industry by allocating quantities of wool for auction and the fixation of reserves, rtot prices, did not recommend any scheme for price-fixing.