STABILITY FOR WOOL TRADE

Chronicle (Levin), 16 October 1946, Page 3

STABILITY FOR WOOL TRADE

LONDON, Oct. 14. Dominion wool circles in Londan are hopeful that the inter-governmental conference of wool producing and consuming countries, called by the Board of Trade, will be the first step towards securing stability for the wool trade on a long term basis, says the Australian Associated Press correspondent. It is understood that the representative wool interests in London which iufluenced the Board of Trade 's decision to call the conference, hope the conference will be the first step towards putting a "price floor" under wool prices to prevent any slump after the sellers' market ends. They hope for a stabilisation agreement at a governmental level, the range of which could be extended by the adherence later of Governments other than those invited to the first conference. The statistieal position of wool at present is held to be favourable for the establishment of an intergovernmental agreement. Accumulated stocks at present held in Gritain, the Dominions and America, are stated not to menace the wool market. Growers have been paid for them and they are in the hands of the Governments which can Telease them over a period of yeare as the market shows capacity to absorL them.