WOOL REALISATION SCHEME.

Otago Witness, Issue 3488, 18 January 1921, Page 17

WOOL REALISATION SCHEME.

LONDON, January 14. Senator Millen is satisfied with the British approval of the Australian wool realisation scheme. He does not antictq pate any immediate advantages from th<J allocation of profits, because these nece»s sarily will be deferred pending the realisac t:on of stocks and the adjustment of tux counts, but he thinks the ultimate result! will materially benefit Australia’s mercantile credits in London apart from the com. monwealth finances. January 15. The British Wool F’ederation is sending a deputation to the English directors of the Australian Realisation Association to enter a protest against the policy of withdrawing the greater portion of the wooia submitted to auction in England. NEW YORK, January 15. The New York Times, commenting on last week’s sales of Australian wool in London, points out that it will be interesting t-o watch now the scheme by which, Britain will turn over her holdings to the company representing the growers will work. The odds are against success. There is so much wool available that it will take years to dispose of it. Meanwhile the expense of carrying the stock* will increase the cost. Temporarily, how ever, the plan may have the effect of rais- 1 ing the price of wool to the woollen mills. ' The American mills are gradually beginning to work again though the demand for spring fabrics is light. Lower prices for spring and fall goods are expected.