SEEKING WOOL FOR LONDON MARKET

Chronicle (Levin), 14 March 1947, Page 5

SEEKING WOOL FOR LONDON MARKET

(►Special Correspondent).

Received Tliursday, 7 p.m. LONDON, Alarch 13. Before the war nearlv* one-third of Xew Zenland 's wool was sold in London. Ohiefly owing to shipping ditlicul- : ties, none is uow being sold liere. In' the hope of reviving saies in London, Mr. K. M. Arnold, oue of the joint gen eral inajiagers of the London committee of wool brokers, is arriving in". Auckland on April 19 in the Arawa to renew prewar connections. lle will also talk with Mr. CL Duncan, of the New Zealand Wool Disposal Coinmission. "We would iike the London market to be coniplenienturv to Xew Zealand markets rather than couipetitive, ' ' said Air. Arnold wlien comnienting on his visit. " We feel that the London market is a vcrv essential thing for the orderly and successful marketing of wool. If it is allowed to disappcar it will be unfortunate for the whole indus'trv and also for wool users and producers. The wool trade here does need a spot market." Mr. Arnold remarked that a comparison of priees at wool saies in the Dominion aiul London since Christmas, showed that certain types of wool fetched as much as two pence per pound more in London than in Xew Zealand on the saiue day. This indicated that the London market should have certain attractions for Xew Zealand wool growers. Comnienting on Mr. Arnold 's visit/ the Yorkshire Post says it would be diflicult to over emphasise its importance to producers and consumers alike. Its value was demonstrated in rccent months for the wool consuming maehinery in Britain and the Continent had iieen demanding wool in voljume which the Doininions were unable to adequately satisfy owing to shipping liniitations aijd labour troubles. But for the emergency measures of the Joint Organisation and conimittee of London wool brokers, a serious shortage must have arisen in some (piarters both at home and abroad. '