WELLINGTON NEWS

Hokitika Guardian, 19 January 1926, Page 4

WELLINGTON NEWS

NEW ARTIFICIAL WOOL. (Special to “ Guardian.”) WELLINGTON. January 15. That was a terrifying message that appeared in the papers relative to the production of nriftcial wool in Italy. Italian inventors have given to the world some useful inventions, the most important of which has been wireless, which the world owes to Marconi. According to the correspondent of the “ Yorkshire Post,” who was sent to Italy specially to inevtsigate the new product, the discovery was made about there months ago. The new fibre which is apparently a product of wood pulp, as is artificial slik, can be blended with wool, cotton or silk up to 85 per cent, and give an indefinite variety of materials at varying prices, it is a little less warm than wool, but of higher tensile strength, with a better lustre. Its filaments are so mixed that this facilitates accurate dying. The question is will this artificial product seriously menace natural wool? That seems quite unlikely, tor there is no real substitute for wool. The new pro, duct, however, will bring stylish at-

tractive clothing witnin tile ream 01 •> great many more people and should help to regulate the profits of those handling wool after it has hocn converted into fabrics. A reduction in prices of woollen clothing should follow upon the introduction of fabrics made from the new fibre, will stimulate the demand for woollen clothing, ft is true that in some respects artificial silk or “ rayon.” ns it is now known, has made a- difference to woollen hosiery. It would be difficult to find a pair of woollen hose in the streets of the cities. It is now art silk hosiery, and the lady’s wardrobe contains ten or a dozen pairs of varying shades, apair or two to suit each dress. And in almost every home it is not an uncommon sight to see several pairs of those fauev stocking ‘‘on the line.” Rayon has its advantages and its disadvantages but just now it advantages

are being extolled because it is popu- j lar. The new product which, has the ' sneepy name of “ Suiafil,” will fill a place in the world's economy, as margarine does, hut it "will not displace wool any more than margarine lias displaced butter. Suiafil, however, does not dissipate the statistics of the wool experts, for there will not now ho any shortage of wool. A good many people will find it necessary to he content with suiafil just as many people take to margarine. The better lustre and higher tensile strength of suiafil are its big advantages, and which will secure for it a good deal of support. However, it would lie unwise to treat this new product as of no account in the competition for the- world’s clothing.

BANKRUPTCIES. Prior to 1921 there were comparatively few bankruptcies registered in New Zealand, hut the slump of 1020-21 | made a very considerable difference. ; In 192] the number of bankruptcies began to mount up. for the weakest were j soon pushed under. The insolvencies in 1921 numbered 322. but in the following year the number more than doubled for the total was 689 rising: to 696 in 1923. In 192-1 there was a substantial decline with the total of 611, but last year there was again an increase with a total of 059. A good many debtors were nursed in the hope nf making a recovery and furthermore creditors were obliged to he considerate because there was no sale for securities against which advances were made. : With the improvement that, has taken place ill the next two years liquidation has boon forced while it was possible to market securities. It i? proha hie that for some time to come the number of insolvencies in the Dominion will not go below 600 per annum, and may easily show sharp increases on the figures of last year. Looking over the monthlv figures for the past five years, the highest in ini was ill August. 102.2,' when ih r Te were S 3 bankruptcies, and , the next highest is to lie credited to J .July of last year when there were SI i insolvencies. Ever since the slump farmers have been the principal contributors to the bankniptcv records. > Last year the farmers accounted for 141 insolvencies, as compared with 143 in 1921. 173 in 1923 and 200 in 1922.1 Next to farmers were labourers and . last- year the latter contributed 98 j bankruptcies as compared with 67 in 1921 and 58 in 1923. Last year 19 storekeepers and II butchers bankrupted, the records of the other groups not being of any spectacular merit.