AN OVER-PRODUCTION

Nelson Evening Mail, Volume LXIII, 1 August 1929, Page 5

AN OVER-PRODUCTION

PROCESS OF READJUSTMENT AUCKLAND, 31st July. “To my mind there can be no question of over-production of wool. After the war there was a period of inflated values, and it is only now that we are getting down to a true economic basis," said Mr E. G. Larkworthy, a partner in the firm of -Buxton, Ronald, and Company, wool brokers, London, who after spending three months in Australia, arrived at Auckland from Sydney by the Aorangi to make a business tour' of the Dominion. “I do not see why prices should go any lower,” Mr Larkworthy said. “We are now getting back to a proper standard of values, and although prices are lower than they have been for some years there is still a demand for wool, it has to be realised that the public will not pay peak prices all the time, and the difficulties that exist on the wool market at present are only natural difficulties arising out of the natural process of readjustment. “Some people are still frightened over the possibilities of synthetic wool,” Mr 'Larkworthy said. “Although this fabric has hardly progressed beyond the laboratory stages it shows definite signs of becoming a m%rketablo commodity in the near future. On the face, of it there seems no reason Why wool should not bo produced artificially in the same manner as artificial silk, but the works at present can • find uses for all the wool that is produced, and the outlook for the future is ■ not necessarily gloomy.”