THE WOOL INDUSTRY

Otago Daily Times, Issue 18348, 12 September 1921, Page 5

THE WOOL INDUSTRY

SIR *JOHN v HIGGESTS'S SOPHISTRY.

STRONG YORKSHIRE CRITICISM. Preos Association—By Telegraph—Copyrigh;. LONDON, September 9. Commenting cm Sir John Higgins's speech on September 7, the Yorkshire Post says: "A gradual recovery from the slump in wool was inevitable, and it would have come if there had been no ' Bawra.' Improved economic conditions ore responsible for a retmr.n of confidence in tihe wool industry. The larger sales and firmer markets which Sir John Higgins claims are due to ' Bawra's action as an instrument for regulating the 'flow of wool to the market—largely, be it remembered, at Britain's expense—mitigated a financial crisis; but ' Bawra's' policy had nothing to do with the restoration of economic conditions and a return of the confidence and greater consumption which were responsible for the improvement in wool values. The growers will doubtless see througr? Sir John Higgins's sophistry, and will probably ask why, now that " Bawra ' has so little good merino to offer, should merino growers any longer tolerate this syndicate interfering with their private selling? Important wool interests have already declared in favour of a removal of control, and users will be surprised if they consent to' a further wool-selling policy dictated by ' Bawra.' The regulation of offerings can easily be arranged at a conference of selling brokers and buyers, and thus the expense of manitaining ' Bawra ' can bo saved."—A. and N.Z. Cable. ,

WOOL ALLOCATIONS

CONFERENCE IN MELBOURNE,

MELBOURNE, September 10. Sir John Higgins announced that the' conference of wool representatives had unanimously agreed that the allocations for October, November, and December would be 150,000 bales monthly. It was generally agreed that gvery endeavour should be made to sell the incoming dip by July 31, subject to market conditions and the demand for raw wool. Sir John Higgins added that the recent conference modified the resolutions which were passed in March, 1921, in the direction that the quantity of wool allocated at Australian auctions be not less than the British offerings; also that the Appeal Board should take action from time to time to protect the market value of Australian wool.