HIGH WOOL PRICES WILL BE MAINTAINED.

Shannon News, 2 December 1924, Page 2

HIGH WOOL PRICES WILL BE MAINTAINED.

SAYS THE HON. EDWARD NEWMAN Reference to. the phenomenally high prices ruling at the wool sale at Wellington last -week was made by the Hon, Edward Newman, M.L.C., at Rongotea, Manawatu,. last Wednesday. “The advance in prices has come at a most opportune moment,” lie. stated. “The moratorium ends shortly and the high wool prices will assist the New Zealand farmers to meet tlieJr financial obligations.' It is a most fortunate circumstance and 1 am delighted that the farmers of the. Dominion are. being assisted in such a way. “Some time ago 1 returned from a visit to England, and 1 can tell you that those engaged in tiie wool trade there were, evincing great anxiety 'as to where they were going to get their wool from—not only for next year but for several years ahead.” The speaker added that t)he world consumption ol wool was, on the increase, while flocks had been diminished.

“Prices may. even go higher,” be continued, adding that he would not be surprised if, for some, time, they were, to remain around an average of 2s to 2s 6d pe lib, though they would probably drop to a steady figure of about Is 6d a few years (hence.