WOOL OFFERINGS.

Poverty Bay Herald, Volume LI, Issue 16662, 16 February 1925, Page 5

WOOL OFFERINGS.

BRADFORD DISLIKES CURTAIL • - ME NT.

(Elec. Tel. Copyright—United Press Assn.: (Australian and N.Z. Cable -Association.) (Received February 16, 10 a.m.) LONDON, February 15.

Commenting on the curtailment of wool offerings in Australia, a Bradford correspondent, writes: “The experiment will be followed with great, interest. Few Rradfordinns anticipate its success, as circumstances are against the wool growers. The. purchasing power throughout the world has increased slowly among the mass of the people. The position of wool is seriously' assailed by substitutes, especially artificial silk. Moreover, there will 'be a larger wool clip in Australia next season.. The fact that large stocks of wool are being held up in Australia will make values all the more uncertain, rather than stabilise prices, because wool buyers are always apprehensive of these stocks being suddenly realised by weak holders. Bawra wool was not held hv private individuals, which was a very different proposition.” Another writer says: “Sellers have certainly some rights in determining the prices of their own commodities, but, any artificial or excessive propping of values is always to he regarded with suspicion rather than confidence unless there is sound justification. It is generally felt at this, the manufacturing end of the wool industry, that prices of raw material have been too high for real prosperity. and this undoubtedly is causing a limitation of consumption of the more expensive grades.”