WOOL STOCKS IN LONDON

Dominion, Volume 12, Issue 128, 24 February 1919, Page 5

WOOL STOCKS IN LONDON

EFFORTS TO STABILISE PRICES. (Rec. February 24, 1,15 a.m.) London, February 21. Jf,v. Goldfinch, presiding at a meeting of the Wool Council, said that owing to tho epidemic and the Australian shortage of coal Now Zealand stocks in Eng- ; land would not reach a comfortable levelbefore July. Probably it would bo neees'«ry to limit the purchases for Belgium, Franco, and Italy. In view of America's' contract with Australia and New Zealand our import programme had hot provided for any sales of American through London. Mr. Goldfinch paid a tribute to the handsome attitude of Australia and New Zealand throughout regarding prices. It was obviously impossible to continue the British manufacturers' favoured position without obtaining supplies much below the American values. The Department proposed to Lecp prices as far as possible equal to the cheaper supplies from any part of the world. The Department would facilitate private importing and free dealing, ensuring continuous supplies from all quarters, and use its influence as the holder of Australian and New Zealand wool to stabilise prices somewhat' below the present level. Mr. Goldfindh■■ promised to consider the council's .linanimous demand for an immediate moderate reduction in the issue prices, and fixing prices for eight months,: instead of a series of downward alterations. There •will be an official announcement nest week,—Aus.-N.Z. Cable. A*»n,