BRIGHTER FUTURE

Taranaki Daily News, 19 January 1933, Page 16

BRIGHTER FUTURE

WOOL TRADE RECOVERING.

AN EXPERT’S OPINION.

Auckland, Jan. 17.

One of the best known men in the Australian wool industry, with which he has been identified for nearly fifty years, Mr. George Jeffrey, arrived in Auckland to-day on his visit with Mrs. Jeffrey to visit his daughter in America. He was chairman of the Technical Advisory Committee which fixed the basis of prices in connection with the wool scheme during the war. At one time he was superintendent in Australia for the firm of Dawson and Company, prominent international wool brokers.

Although now retired from business, Mr. Jeffrey still takes a keen interest, in everything pertaining to wool ana its marketing. Asked his opinion regarding the present position of the trade, he said it was difficult for anyone to say nowadays with any degree of certainty how matters stood, because of the unsettled state of the world. “However,” he continued,, “taking things by and large, I am of opinion that we have reached bottom, and are now on a fair way to recovery, not that I expect any boom prices, but rather a steady or gradual rise. This has been confirmed by the recent sales market being firm with an upward tendency.”

Mr. Jeffrey does not believe in the suggestion sometimes advanced in favour of lessened production as a means of improving wool prices. He contends that there was not too much wool, and all being grown was being used. The only factor which kept prices low was the lack of spending power in the world at present. “Conditions in Australia now are brighter than they have been for a long time,” added the visitor. “Although I would not like to point to any definite fundamental change, there is certainly prevailing a spirit of increasea confidence, and people seem to be disposed to spend much more freely than was the case some time ago.

“The political change in New South Wales had engendered a spirit of distinct optimism. During the holiday shopping periods, shopkeepers had a wonderfully busy time. While it was realised that there were still too many people unemployed, efforts now being made appeared to be meeting with success toward curtailment generally. The Australian people were looking forwara to better times than have prevailing for many a day.