WOOL FOR U.S.A.

Gisborne Herald, Volume LXVI, Issue 20125, 20 December 1939, Page 5

WOOL FOR U.S.A.

THE AUSTRALIAN PLAN APPROVED BY BUYERS CO-OPERATION PROMISED SATISFACTION OF TRADE (Reed. Dec. 20, 11 a.m.) BOSTON. Dec. 19. Agents here of Australian buying brokers passed a resolution expressing sincere appreciation of the courtesy and efforts of the Australian Government office to achieve satisfactory arrangements with America to obtain Australian wool. A resolution also expressed appreciation of the Central Wool Committee’s use of regular channels as far as possible for the disposal of wool in the United States and gave an assurance .that the agents would do everything in their power to ensure successful working of the plan. The Australian Associated Press understands that comment oil the scheme continues to be overwhelmingly approving. It is pointed out that an odd man said that the price was a little on the high side. On the other hand, a journal like the Commercial Bulletin, in an editorial, expressed the opinion that it was on the low side.

Australian circles are convinced that the great bulk of the trade feels that the scheme is constructive and that by the end of the week the immense technical problems will be completely ironed out. They admit, unfortunately, that the arrangement falls in the holiday season of relative inactivity, but when the acid test comes a month hence “we will sell wool that will successfully demonstrate the soundness of the scheme.