PRICE OF WOOL

Poverty Bay Herald, Volume LXIV, Issue 19374, 12 July 1937, Page 5

PRICE OF WOOL

“SHOULD BE STABILISED” AUSTRALIAN’S VIEWS SYDNEY, June 24. Mr. Clarence Edwards, managing director of David Jones, Limited, who returned from England by air yesterday, said that the stabilisation of the price of wool was a very necessary accomplishment for the well-being of Australia.

“We must not be deterred from making some serious effort to keep wool on an even price level throughout the season by the threat of Germany’s, and possibly Italy’s, synthetic staples, which can and will be used to some extent,” Mr, Edwards said. In Germany, Mr. Edwards added, the Government appeared to be using synthetic staple largely for Government uniforms. They had a good appearance, although the fabric had a slightly felted appearance. Mr. Edwards said that there had been a great improvement in the English textile trade since his last visit, three years ago.

Lancashire, which had been greatly affected by the depression, now showed signs of healthy recovery. This had been effected to some degree by the current belief of buyers and consumers that all commodity prices were rising, and in consequence buying was being done for a period much farther in advance than was usual.

Cotton Industry Mr. Edwards said that on his previous visit to Lancashire he foresaw that the cotton industry would find it impossible to compete with foreign countries, and that its ultimate salvation would have to be in the highquality end of the trade. This had proved to be the case. “There are cloths in Lancashire today that are without equal,” Mr. Edwards said. “To-day, England is shipping a considerable volume of cotton dress goods to the United States, notwithstanding a heavy duty and the general high standard of America s own product. They are able to do this purely by reason of the superiority of Lancashire’s cotton textiles. Australia, too, shares the preference for these cloths.”