WOOL

Nelson Evening Mail, Volume LVI, 8 May 1925, Page 5

WOOL

QUESTION OF POSTPONEMENT OF SALES

DEVELOPMENTS IN AUSTRALIA

(By Electric Telpgraph.—Copyright.) J iai.riuxa.ti term N.Z. Liable AanoumiloO.)

MELBOURNE. This Day

The conference of the National Council of Wool-selling Brokers and Woolgrowers’ Association to consider the wool position and the question of postponement of sales has been postponed till to-morrow.

Feeling in the wool trade is that the May-June sales should he cancelled. Already the Brisbane sales fixed for this week have been cancelled.

Sir John lligigns, presiding at the annual meeting of the Bawra strongly deprecated the introduction of gambling into the- wool business. The industry should not he. in the position of being subject to booms and slumps. He states the total amount received on actual Realisation of Bawra for the Australian half of the carry over wool and other assets, including interest of £1,307,000 awaiting distribution, was £30,186,000; The Bawra’?. total assets with trusts exceeded £8,000.000 and it would be unwise to make changes in the directorate at such a, critical time. The' directors recommended that until litigation was cleared up no steps should, be taken to place the Bawra in liquidation. After litigation was over, a meeting would be called to bring about the liquidation of the association and the distribution of assets.

MELBOURNE. This Day The Bawra meeting decided bn the I'ecomemndalio'U of directors that' the question of liquidation be left in their hands.

LONDON SALES

RATIIER. MORE COMPETITION

LONDON, May 6 At the wool sales, there was rather more competition and general interest hut prices are unchanged. U