EXTENDED WOOL SALES

Taranaki Daily News, 30 December 1929, Page 9

EXTENDED WOOL SALES

BRADFORD’S INHIBITION

QUESTION OF DOMINION LOSS

WOOL MEN GIVE OPINIONS

By Telegraph—Press Assn.—Copyright. Rec. 5.5 p.m. London, Dec. 28. A Press telegram from Auckland is published stating that owing to Bradford’s refusal to agree to New Zealand wool sales in May and June it is estimated that New Zealand will lose £5,000,000. Interviewed in this connection Mr. George Whitaker, president of the British Wool Federation, says: “It is inconceivable that New Zealand should make this charge. The Wool Federation’s cabled opinion, stating that it was opposed to any extension of the woolselling season, was not given without full consideration to the growers’ interests. Values in crossbred wool this season have been determined by those ruling in South America. Although they are considerably below last year’s level they are relative to wools grown in Australia and South Africa. In the federation’s opinion the value of New Zealand wool would not be enhanced by an extension of the selling period. This opinion was given honestly, without any attempt to restrain the New Zealand W’ool Committee from extending the period if the committee disagrees with the opinion given.” Mr. William Hunter, ex-president of the federation, said the view that the federation’s action would cause New Zealand to lose £5,000,000 was entirely erroneous. Growers of wool, like the producers of every other commodity, were obliged to accept the world market price. Moreover, the federation’s attitude would not alter the selling value of the clip in any way. The law of supply and demand would determine its price.