AUSTRALIAN WOOL

Wanganui Chronicle, Volume 83, Issue 255, 28 October 1939, Page 8

AUSTRALIAN WOOL

LARGE U.S. MARKET AMERICAN MANUFACTURERS ANXIOUS THE BRITISH INTENTIONS [Ry Telegraph — Tress Association—Lopyright] Received Oct. 27, 10.35 p.m. NEW YORK, Oct. 27. The wool position in America, particularly the fate of the current Australian clip, is not only causing discussion in American circles but is viewed as an extremely difficult problem for Australian producers. Groups interested in Australian wool here are comforted by the thought that Britain probably will release Australian wool on the American market, but it is conjectured that this wool, by being disposed of with a view to creating dollar exchange, max be held for overhigh prices, causing a diminution of demand and encouraging substitute fibres. Wool customers of Australian wool, particularly fine Merinos, the demand for which is diminishing elsewhere because of the wai. The current Australian dip should be appearing voluminously in American warehouses but none has been seen. It is asked if fine Merinos are not released at a reasonable price, will there not be a post-war accumulation so great that it will be iiTipos sible to dispose of it except at a large loss. Furthermore, it. is felt that America is a permanent market for Australian Merino and the prosperity of the Australian wool industry will be largely influenced thereby. Wool interests emphasise that everyone in the wool trade in interested in increasing wool consumption in the United States, which at present is I anxious for supplies. The only hope, therefore, is that Britain will quickly I announce a plan by which fine Merinos will be made available to .American manufacturers regularly at reasonable prices. —