THE WOOL MARKET

Otago Daily Times, Issue 18855, 7 May 1923, Page 5

THE WOOL MARKET

NO CAUSE FOB ALARM. STEADY DEMAND ASSURED. Press Association—By Telegraph l —Copyright LONDON, May 4. Commenting on, the pessimistic views of the wool market Sir Arthur Goldfinch (Director of Raw Materials for the War Office), writing in the Yorkshire Observer, says,: “There is no justification for alarmist views. The known facts point to a persistence of consumption in excess of production for at least the next two years. Each year the popularity of woollen clothing is increasing amongst peoples who have hitherto relied mainly on cotton goods. This applies particularly' to the Far East.” • The Yorkshire Post says:—‘ For the moment America, is the dictator. Time will prove how long she will remain so. Her war wealth enables her now to enjoy a period of prosperity, in marked contrast to the nations on this side of the Atlantic, but already warnings have been uttered regarding the future of the United States. Hints nave been made of overproduction. Certainly her markets can be flooded with' imported goods unless even a more drastic tariff than the present is established ; also, consumers in the United States have been known to organise a strike when' the. values of textiles have gone' too high. Some people assert that prices are already at the danger point, therefore one may admit the prospect of a scarcity of wool in the aggregate, if not an actual shortage m relation to the demand, without fearing that values will soar to such dizzy heights as some optimists would have us'look forward to.” —A. and N.Z. Cable.