AUSTRALIAN WOOL SCHEME

Dominion, Volume 14, Issue 72, 18 December 1920, Page 11

AUSTRALIAN WOOL SCHEME

"PREJUDICIAL TO BRITISH TRADERS." London, December IG. Sir William Rnynor, chairman of the Colonial Woolbuyer.s' Association, interviewed, said the Australian scheme was clearly designed to maintain prices at a higher level tlhan was natural on a competitive basis, and must inevitably be prejudicial to British traders, manufacturers, and consumers. It was appalling to find that the Government Wool Department. had made a profit of .£56,000,000, and: had not metl tlie market by reducing' the price. ' Fori the sake of about a penny per lb. the Department had refused offers involving considerable amounts of profitable • business.—Aus.N.JC. C'able„Assn. rThe .maib points of the Wool Realisation Scheme are as follow:—Formation of an organisation to be called the Brit-ish-Australian Wool Realisation Association. a legal entity with a domicile in Australia, and with a. capital of .£25,000,01)0; tho association to take over tho British Government wool in I/jndon nnd in Australia, and _ manage the current clip; to financially rffcist' wool-sell-ing "houses in order to enable them to make advances to,, needy growers. The head office of the association would be in London.]

(The cable news in this issue accredited to the London "Times" has appeared in that ournal, but only where eipresßly stated is such news the editorial opinion ol the "Times.")