THE WOOL OUTLOOK.

Western Star, 8 May 1925, Page 2

THE WOOL OUTLOOK.

SPECULATION DEPRECATED * MELBOURNE, May 7. Tile conference of the national Council of Woolselling Brokers and Woolgrowers’ Association to consubr the wool position and the question of the postponement of sales has been postponed till to-morrow. The feeling in the world trade is that the May and June sales should be cancelled. Already thei Brisbane sales fixed for this weok have been cancelled. Sir John Higgins, presiding at the annual meeting of Bawra, strongly deprecated the introduction of gambling into the wool industry. Tlie industry should not be in a positiou of being subject to booms and slumps. He stated that the total amount received on the actual realisation of Bawra for. tho Australian half of the carry-over of wool and other assets, including interest and th© amount awaiting distribution, was £30,186,000. Bawra sj total assets with trusts exceeded £8,000,000 and it would be unwise to make changes in the directorate at such a critical time.

The directors recommended that until litigation was cleared up no steps lie taken to place Bawra. in liquidation. After litigation was over, a meeting would he called to bring about the liquidation of tin;, association and the distribution, of - assets.