NEW WOOL CENTRE.

Star (Christchurch), Volume LXVI, Issue 20332, 15 June 1934, Page 1

NEW WOOL CENTRE.

Proposal Discussed at

Bradford,

LONDON, June 6,

Representatives of Australian brokers attended to-day a large meeting of Bradford wool importers under the chairmanship of Sir F. A. Aykroyd, to consider the question of establishing a centre for Australian wool sales at Newcastle.

Sales inaugurated there in 1928 were not recognised by the Australian brokers nor by the Sydney Wool Buyers’ Association, because any wool offered at Newcastle could easily be sold at Sydney and because the establishment of Newcastle sales would entail the building of warehouses and the opening of trade offices. It was abo argued that brokers would have to attend more sales without gaining any correspording advantage.

Nevertheless; despite the lack of adequate support, sales have gone at Newcastle, and some importers feel that if others attend these sales, they should.

The British Wool Federation recentlv resolved that it could not any longer withhold its support.

Mr Harry Austin, of the Sydney Woclfcuyers’ Association, having a statement on the matter, it was discussed without a decision being arrived at, and the meeting was adjourned until next week.