WOOL BELOW COST

Sun (Auckland), Volume III, Issue 900, 18 February 1930, Page 9

WOOL BELOW COST

CLAIM OF AUSTRALIAN GRAZIERS WANT AWARD REDUCED SYDNEY, Monday. Owing to the “distressing condition” of the wool industry in Australia the Graziers’ Association’s central executive has decided to apply to the Federal Arbitration Court for a variation of the industrial award, which covers the shearers throughout Australia, excepting Queensland. It is claimed that wool is being sold below the cost of production.

SALES AT SYDNEY KEEN COMPETITION SHOWN SYDNEY, Monday. At the Sydney wool sales today the offerings totalled 9,125 bales, of which 8,443 were sold, also 410 bales privately disposed of. There was keen Japanese and Continental competition, with good support from Yorkshire. The market was Arm at last week's level of values. Greasy Merino sold to 21id. PRESENT DECLINE “EXAGGERATED,” SAYS REVIEWER APPEAL TO GROWERS Reed. 10 a.m. LONDON, Monday. Addressing the Bradford Textile Society, Mr. William Hunter, expresident of the Wool Federation, said he was convinced that the lack of confidence resulting from a world-wide money stringency had been greatly exaggerated. The Impetus of the decline had taken them further than the most confirmed pessimist had anticipated. The steps taken by the Australian growers to stabilise values constituted an excellent corrective, and would be an assurance to wool buyers, yarn buyers and cloth merchants that they could buy with the feeling that they were not likely to lose money, and would allow them to anticipate their requirements over a longer period.