WOOL HOLDING.

Wairarapa Age, 11 March 1930, Page 2

WOOL HOLDING.

A BRADFORD WARNING. LONDON, March 8. Dealing with the present wool position, the ■‘“Yorkshire Post” says if Australian growers will accept the advice of the wisest leaders, they will have nothing to do with such a scheme as that under which 400 000 bales of wool will be withdrawn from the market. The great need of trade to-day IS a larger consumption, and the withdrawal of 400,000 bales would defeat that object. Assuming that it is practicable to keep such a quantity off the market, the inevitable result would be to open the door to an equivalent quantity of competitive fibres, such as artificial silk and wool and cotton. On tie other hand, only a very small increase in the public demand for wool clothing, stimulated by a* fall in the cost of the finished articles, would account for the absorption of 300,00(1 bales in no time. Everything points irresistibly to the conclusion that for improvement of the wool industry—increase in machinery activity and employment, possibly even a rise in the price of raw material sufficient to satisfy growers we must look to augmentation of the ultimate demand, which can only come about when the retail prices, which are quite out of touch with present-day realities, have been so drastically modified that the public will buy freely.