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WOOL SALES IN AUSTRALIA

SEASON TO BE EXTENDED MAINTAINING RESERVES i MPORTANT CONFERENCE (Elec. Tel. Copyright—United Press Assn.) (Received Feb. 0, 10 a.m.) MELBOURNE, Feb. G. The most important wool conference in the history of Australia concluded last night. It was attended by all sections of growers, from the largest to the smallest, and by representatives of the selling brokers and other sections of the trade. It was decided to extend the wool sales till the midde of August, instead of terminating them on June 30 as hitherto; to spread the sales as nearly as possible equally over .the intervening period; that the brokers take such action with their clients as will ensure that wool will not be sold under last week’s levels of values; that South Africa and New Zealand be invited to adopt a similar policy in regard to the marketing of their clips; and that London brokers bo approach-, ed for a similar purpose. The conference lasted 2i hours and was held,, within closed doors. FUTURE PRICES __ i . - CONCERN IN AUSTRALIA •V, - - V SELLING ORGANISATIONS Judging from the correspondence on the, subject (says the Sydney Morning lloraldi, the present and probable future prices of wool are causing the utmost concern among growers. Suggestions of the most varied and conflicting character have been made, ranging from a compulsory pool to a purchase of portion of the Australian clip by the Commonwealth Government. borne men appear to be of the opinion that any action, no matter what, would be better than the present state of affairs. Referring to the newly-formed Australian Grazing Industries Defence League yesterday, Mr. F. H. Tout, pre. sident of the Graziers Association of New South Wales, said that it was difficult to imagine what it could hope to accomplish for the woolgrower that could not more surely, quickly, and cheaply be accomplished by the long-established Graziers’ Associaiions of the Commonwealth. “Our 'present organisations have so , controlled and allocated wool that even at the present tune they have extended the wool sales practically over the whole year. There is now only a vacation allowed for the buyers to get in personal touch with their principals abroad. It is a matter for serious consideration whether the sales should not be further extended. The sale of wool in Australia is better regulated, and is carried out with greater advantage to the grower than in any other part of the . world. “While we claim this for the existing . system, we recognise the present diffi-. cultv, and are exploring every possibility. Action is taken just a? soon as it appears practicable and profitable. So many factors are involved, and there are so many ramifications that hasty or ill-considered action might easily make , our next position worse than the preM " L THE WOOL POSITION. Mr. T. H. Rowlands, of Mijlamolong-, Mamiurama, writes to the Herald:— ' On the 18th inst. Hie GVaziers Federal Council of Australia met the Prime Minister and the Minister of Marketing at Melbourne to discuss the wool position, and I in common with thousands of other woolgiowers, are more than disappointed at the result of Hie conference. The position to-day with many woolvrowers is almost tragic, and is brought about by the policy of drift we are pursuing. The chairman, Mr. Ixellv, made it, clear to the Ministers at the conference that this policy was to be continued, not only for this season, but for next veur as well; a plain intimation to the world that we are prepared to accept anv price buyers like to offer for our product, A more unfortunate pronouncement it is hard to imagine, and it is not surprising that there was a further decline in 'vool values iromedi* at-elv. . ... When an industry is in difficulties that is the time it needs supporting. Reduction in price is not the remedy, and few people realise that every penny per pound decline in the Australian wool clip represents almost three millions of The remedy as I see it is to Withdraw af least 250.C00 bales from sale; ask the Federal Government to finance it—the Prime Minister lias shown himself sym-pathetic-place the control in the hands of a hoard similar to Bawra, and feed it. on to the market iudiciously over next season, and possiblv the one after, a*} Bawra did with the carry-over from the wool purchase scheme we had in wartime. This would establish confidence more quicklv than anything, and that , is chiefly wiiat, is required in the wool trade to-day. . ..... - -. It, might be urged that it is not ftdv: sable to carry over any portion of the clip. Far better carry it over here than n-ive it away to speculators to play Kittledore and shuttlecock with m the form of tops on the European Exchanges.

Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/PBH19300206.2.58

Bibliographic details

Poverty Bay Herald, Volume LV, Issue 17177, 6 February 1930, Page 5

Word Count
792

WOOL SALES IN AUSTRALIA Poverty Bay Herald, Volume LV, Issue 17177, 6 February 1930, Page 5

WOOL SALES IN AUSTRALIA Poverty Bay Herald, Volume LV, Issue 17177, 6 February 1930, Page 5

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