WOOL HELD OVER

Sun (Auckland), Volume IV, Issue 1076, 13 September 1930, Page 9

WOOL HELD OVER

ECONOMIES OF SELLING ADVOCATED CONFERENCE AT LIEGE LONDON, Thursday. | A special correspondent of the | Australian and New Zealand Press j Association at the International Wool j Conference at Liege says suggestions j were made regarding Australian sales by M. Vervier M. Dubrulle, who said | the hold-over policy had proved unsound. The council of the conference considered it advisable to oppose any endeavour to create uneconomic values or to hold over part of one season's clip to another. It favoured the extension of the selling period, provided that a reasonable j interval was arranged between the i seasons to enable buyers to renew personal contact with customers. Mr. W. P. Devereux (Australia) said the growers’ organisations in the Commonwealth, in dealing with the October situation, decided that it would be better, in view of the apparent inability of the manufacturers to absorb wool as offered, to reduce their offerings and extend the season, but otherwise to allow the laws of supply and demand to adjust the position. In defending this policy he said the result had been beneficial, as low prices must stimulate consumption. Further, practically the whole of the Australian clip had gone into consumption. The’ conference passed a resolution directing the attention of the woolproducing countries to the fact that restricted sales would diminish confidence.