AUCTION SYSTEM

Otago Daily Times, Issue 27570, 12 December 1950, Page 9

AUCTION SYSTEM

Fairest Wav Of Buying Wool Daily Times Special Service ‘AUCKLAND. Dec. 11 “ The present system of open auction sales is the fairest, straightest and most outspoken way of buying wool,” said Mr J. W. Tattersfield, chairman of directors of Tattersfield. Ltd., addressing shareholders at the annual meeting today. “ Personally. I am afraid of any other method," he said. ” Prices will right themselves under the present system. The company is watching prices very carefully and the problem is to buy enough wool to keep our carnet production running full time and at the same time avoid incurring undue market rises.” Mr Tattersfield said that the great increase m production of artificial and synthetic fibres would affect cotton goods more than woollens He could see no real substitute for wool where warmth was required Rayon was certainly being used wtih advantage in furnishing fabrics and to a lesser extent in the manufacture of carpets, but to make a satisfactory carpet it was mixed with a large percentage of wool For clothing purposes the warmth, resistance to creasing and draping qualities of wool had not been equalled by any of the so-called artificial wools.