“BAWRA."

Otago Daily Times, Issue 18721, 27 November 1922, Page 7

“BAWRA."

PROPOSAL tfOR CONTINUANCE. SIR A. CAIRO'S VIEWS. Press Association—By , Telegraph,—Copyright LONDON, November 25. At a meeting of Australian mercantile companies, Sir A. Oaird, who presided, referred to the proposal for the continuance of “Bavvra.” He said that the baits held out to attract shareholders’ votes were that continuance would enhance forthwith the price of wool, 56‘s and over, and the improvement would be maintained. He considered the only practical means of doing this would be net holding back from the sales of such wools, thus accentuating what is already the scarcity. There was now a world scarcity of finer wools, and prices had reached a high level. Fabrics made from these wools would only bo sold at such high prices that the time might come when people would not buy them, but would prefer a cheaper article made from coarser wool. He would be sorry to see an attempt to force the prices of raw material by the -artificial restriction of supplies, as such manipulation would in the end be disastrous to growers of fine merinos. Anything that would damage the market for such wool was a danger to the development of Australia. “Bawra’s” tendency to resort to market manipulation had been one of the chief causes of the difficulty of the last two years. The Wool Importers’ Committee in London favoured the regulation of offerings, but at the same time recognised that the wool should be sold as quickly as possible, and not held back so as to create an artificial scarcity.—A. and N.Z. Cable.