WOOL CONFERENCE

Hokitika Guardian, 13 September 1930, Page 5

WOOL CONFERENCE

l United Press Association— By Electric Telegraph .—Copy righ t. ]

LONDON, Sept. 11

The special correspondent of the Australian Press Association, at the International Wool Conference at Liege says: —Suggestions were made regarding Australian sales by M. Vernier ana At. Dubrulle, who said that the holdover policy had proved unsound. The Council of the Conference considered it advisable to oppose any endeavour 1 create uneconomic values, or tlie holding over of part of one season’s clip to another. The Council favoured an extension of the selling period, provided that a reasonable interval was arranged between the seasons to enable the buyers to renew personal contact with tlie customers.

Mr W. P. Devereaux,' of Australia, said that the growers’ organisatons in dealing with the October situation decided that it was better in view of the apparent inability of manufacturers to absorb the. wool as it was offered, to reduce the offerings and to extend the season ; but, otherwise, to allow the laws of supply and demand to adjust the'position. In defending this policy, Mr Devereaux said that the result had been beneficial, as the low prices must stimulate consumption. Further, practically the whole of the Australian clip had gone into consumption. fine Conference passed a resolution directing the attention of the woolproducing countries to the fact that restricted sales would diminish confidence.