WOOL CONFERENCE

Southland Times, Issue 21429, 25 June 1931, Page 7

WOOL CONFERENCE

EMPIRE DELEGATES STABILIZATION QUESTION DISCUSSED NEED FOR ECONOMIC RESEARCH (United Press Assn.—By Telegraph—Copyright.) (Rec. 7.45 p.m.) Melbourne, June 24. The Empire Wool Conference discussed the stabilization question and resolved that the wool selling season should be regulated to permit suitable offerings without creating a carry-over into the next season; also that steps should be taken for co-operation between the various parts of the Empire in all future offerings. A South Australian delegate moved a motion for tho elimination of the draft allowance, claiming that it meant that growers were making a present of one per cent, of their wool to buyers, which was not justified. Mr W. 11. Nicholson (New Zealand) supported the motion, wh : ch was carried. General opposition was expressed to the practice of splitting lots at auctions, and a motion to this effect was carried. The opinion was expressed that the “futures” market should be discouraged. The conference decided to advocate the need for economic research, particularly in regard to the gap between the prices of wool and those of woollen goods.