NOT ENCOURAGING
THE OUTLOOK FOR WOOL
DANGER OF SUBSTITUTES
(Received Dec. 20, 3 p.m.)
-SYDNEY, Dee. 20,
Mr K. M. Niall, presiding at Messrs. Goldsbrough, Mort’s meeting of shareholders, said statements that Australia need not fear substitutes for wool were to he deprecated.
Uranted that, to-dav these substitutes were far from ideal, there was nothing to say that within a very short period science would not produce something containing the main virtues of wool as an article of clothing. “The German Government,” he said, “is financially interested in these substitute producing factories, and if Germany refrains from competing in the Australian market, the effect on the value of our finer wools can he readily imagined. Immediate action should he taken in an endeavor to arrive at some mutually satisfactory trade agreement.” Mr Niali added that the wool market was down approximately 33 per seat on the values ruling at this time last year. It did not seem likely that 'any material enhancement in values could be expected.
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Bibliographic details
Poverty Bay Herald, Volume LXI, Issue 18585, 20 December 1934, Page 13
Word Count
167NOT ENCOURAGING Poverty Bay Herald, Volume LXI, Issue 18585, 20 December 1934, Page 13
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