WOOL MARKET CHEERFUL

Patea Mail, Volume L, 8 November 1929, Page 3

WOOL MARKET CHEERFUL

CKLTICIfcj.It OP AUSTRALIANS. EXTENSION or selling PERIOD The Bradford wool market is showing a' decidedly more cheerful tone than of late, thanks in some degree to the reduction of the bank rate, ■which will appreciably benefit importers in , financing large quantities of wool that have yet to be lifted. .The Australian wool-growers’ decision to the selling period is meeting with a certain amount of adverse criticism in Bradford. For instance, the “Yorkshire Post” says:— “The decision appears to have been taken without any regard for the manner in which the wool textile industry is conducted throughout, the world. “It'seems to imply that Australian growers and selling brokers are under the impression that an even rate of wool consumption is maintained throughout, the year; they ought to know it is not so because w r hen some of their representatives were in Bradford two or three months ago it was pointed out that there were periods when orders were placed freely for partially nr fully manufactured goods, and at such periods manufacturers wmnted' to cover requirements as quickly as possible. It was understood the growers’ representatives fully appreciated the importance of the point and promised to do what they could to have ample supplies put on the market when required.

“Australian wool-growers have talked much lately about the campaign in (favpur of “Use More Wool, ’’ but before fairly, starting the scheme * they resort to tactics to give their material artificial value and, refuse to let it find a sound economic basis at a time when the consumers desire to make provision against the season’s trade. Thus they are causing irritation.”