THE WOOL INDUSTRY

Otago Witness, Issue 4033, 30 June 1931, Page 34

THE WOOL INDUSTRY

EMPIRE CONFERENCE OPENING OF SESSIONS. MELBOURNE, June 23. The Empire Wool Conference, which was opened by the Governor-General, includes delegates from England, South Africa, New Zealand, aqd all the Australian States. The chairman (Sir C. Graham Waddell), in his inaugural address, said that the object of the conference ws to discuss ways and means of putting the wool industry on a sounder footing and getting better results for growers. He hoped that the conference would mark the beginning of effective team work among wool producing countries. Australian growers had no faith in Government interference. They simply desired to work out their own salvation, but they desired Governments constantly to recognise the l supreme importance of their industry and refrain from placing obstacles in the way. Mr G. N. Williams (South Africa) said: “ Although our methods may differ we have to define some basic principle, and we pin our faith to co-operation. Forty per cent, of South African wool is sold through co-operative societies, which are fairly successful. Certainly they are more economical than selling through agents. The Lord Mayor of Melbourne welcomed the delegates, and Mr B. Tripp, of New Zealand, was among the speakers who replied. The conference passed a resolution expressing the opinion that the best method of selling wool is by public auction, and that the present low price of wool is not due to over-production. Mr W. H. Nicholson, of New Zealand, contended that it would be a dangerous thing to admit that they were overproducing.

The conference also recorded its opposition to arbitrary fixation of prices. STABILISATION DISCUSSED. MELBOURNE,’ June 24. The Empire Wool Conference discussed the stabilisation question, and resolved that the '. wool selling season should be regulated to permit suitable offerings to be made without creating a carryover into the next season, and that steps should be taken for co-operation between the various parts of the Empire in all future offerings. A South Australian delegate moved a motion for the elimination of a draft allowance, claiming that it meant that growers were making a present of 1 per cent, of their "wool to buyers, which was unjustified. Mr Nicholson, of New Zealand, supported the motion, which was carried. General opposition was expressed to the practice of splitting lots at auction sales and a motion to this effect was carried. The opinion was expressed that the “ futures ” market should be discouraged. Conference decided to advocate the need for economic research, particularly in regard to the gap between the prices of wool and those of woollen goods.

SESSIONS CONCLUDED. MELBOURNE, June 25. At the concluding session of the Empire Wool Conference consideration was given to four schemes dealing with the stabilisation of prices, which was investigated by a committee, which duly recommended that none of the proposals should be accepted, chiefly on the ground that most of them included some form of price-fixing, which had already been rejected by the conference, but the principle of insurance against loss through falling prices which was incorporated in the scheme submitted by Sir Jonn Higgins was considered worthy of investigation by ah independent authority.