N.Z. WOOLLEN TRADE

Sun (Auckland), Volume III, Issue 746, 20 August 1929, Page 10

N.Z. WOOLLEN TRADE

MENACED BY SUBSTITUTES WELLINGTON COMPANY’S TROUBLES (From Our Resident Reporter) WELLINGTON, Today. “Xew Zealand residents may one day realise what does not appear to trouble them at present,” said the chairman of directors, Mr. W. H. P. Barber, at the annual meeting of the Wellington Woollen Manufacturing Company, yesterday, “that if pure wool is passed over for substitutes, it must reflect badly on the prosperity of each of them, wool being the Dominion’s greatest individual source ,of revenue. From exports valued at over £55,000,000 last year just under £16,000,000 was for wool. The prewar values were £33,000,000 and £10,000,000 respectively. If wool dropped to pre-war prices it would means £ 6,000,000 less to the farmers, and a serious matter to the finances of the country. “New Zealand’s 20,000 sheepfarmers, with their families, dependants and workers; in fact, every inhabitant of the Dominion, snouia be active personal agents for the use of woollen goods, instead of being as many' are by example advocates for the false ecenomy of wearing clothes made from substitutes in overseas factories. We have unfortunately at our vrorks had to reduce hands, temporarily, I hope, owing to trade depression. If the country' could retain but onethird of the orders now sent abroad for woollens. the industry would boom and work would be found for large numbers of extra hands. That, is the case also with other established industries.

“The obvious moral is that the place we live in should have first consideration by’ the Government and by' the people who should demand Xew Zea-land-made articles. Coupled with the use of the country-’* own raw material is the question of the dreaded spectre of unemployment. Each successive Government announces as a remedy closer settlement of land, but it should be clear that land settlement, no matter how vigorous or stimulated, cannot employ' directly or indirectly all of our growing population. The support of factories' abroad deprives of employment thousands of young persons leaving our schools each year. “USE MORE WOOL” CAMPAIGN “An association of growers in Australia and Xew Zealand has lately come into being to provide funds for advertising the merits of wool, and while such suggested slogans as ‘use more wool’ may give a measure of comfort to contributors it is, in my opinion, play'ing with the matter in so far as making converts. We should welcome any attempt 'on effective lines to encourage the further use of woollens, but I think better results would be got by' a strong endeavour to remove causes of erratic prices and to institute research calculated to improve appearances as was done with inferior substances. “There is one thing clear to us, and should be to the grower and to Parliament: that a check on manufactured substitutes coming into this country' should be established. It is not on behalf of ourselves that I say' this, as we can, if pushed to it, use substitutes as an adjunct to wool and should no doubt find an easy' market if we did, as low price in these extravagant days of quick change is afirst consideration. “Trousers are being landed here which cost 3s without duty-,” said Mr. Barber. “What does 25 per cent, on that do as stopping the importation of substitutes for woollen goods made here?

“The hest of all markets is the home one, and land in Xew Zealand cannot be as successfully' developed as it should unless profitable markets are close to settlers,” continued Mr. Barber. “The encouragement of manufacturing with resultant work for a large population will give an ever-increasing market for the producer. It is a fact that wool sold for use in Xew Zealand mills returns the grower a better price than when bought, for shipment. “I would be pleased if I could to day give an assurance that our company yvill be able to show as good a balance-sheet next y'ear as the one before y r ou, but I do not feel justified in the circumstances in making such a promise. Business is dull and it is hard to maintain output at payable rates. Ail that I can say is that the company'’s affairs are ir. a sound position.” LONDON PRODUCE MARKET HIGH COMMISSIONER’S CABLE The Department of Agriculture lias received the following cablegram dated August 17, from the High Commissioner for Xew Zealand. London:— Tallow.—There was a fair demand at auction, but the market is now quiet. Present quotations for spot are:—Mutton: Fine, 41s to 41s 6d a cwt; fair to good. 38s to 40s; dark to dull, 36s to 375. Beef: Sweet and or mixed, 39s 6cJ to 435: fair to good, 37s to 39s 6d; dark to dull, 35s 6d to 36s 6d. Mixed: Fair to good, 87s to 89s; dark to dull, 35s 6d to 36s 6d. Gut, etc., 34s to 3Cs 6d. Apples.—The market is flat with scarcely any demand this week. Less than half cf the Port Nicholson consignment has been sold yet. Large quantities of English apples and other English and Continental fruits are now arriving and are selling cheaply. Current prices for New Zealand are:—Stunner Pippin, 10s to 16s a case; Rokewood and Dougherty, 12s to ISs. Indications point 1:o lower prices later. Eggs.—The market is quiet but steady. Present quotations are,:—English, 15s to 22s a long 100: Dutch. Danish and French. 12s to 17s’ fid: Belgian. 14s to 14s 60: Polish, 9s 9d to Us 3d. Hemp.—Manila: The market is easier owing to adjustments. Statistics show a large increase in stocks. Closing values for J grade September-November shipments are about £BB 10s. Sisal: The market is qumt. Values are. No. 1 eror>d marks, £4l 10s; Xo. 2. £4O to £4O of*. New Zealand: Inquiry continues f«>r l'n’e-hpoints, but shippers are unable to offer on account of lack of supplies. Buyers show no disposition to operate in lower grades at prices asked. Comparative closing values are: Hierhpoints. £35: fair. £32: common, £3O 10s: tow, second grade, £22: third grade. £l7 15® Wool.—The Bradford mills are shut on account of the annual holidays and the trade is quiet. Present quotations for tops are:—64\s warn. 3s 2d a lb: average, 3s Id: 56’s. 2s 4d: 50’s prepared. 2s OJd; 40’s prepared. Is 9d.