THE WOOL MARKET.

Taranaki Daily News, 14 June 1919, Page 5

THE WOOL MARKET.

DISCUSSIONS BY WOOL COUNCIL. By Telegrarli-—Press Assn.—Copyrljht. Received June 13, 9.30 p.m. London, June 1.1. Mr. Goldfinch, speaking at the Wool Council, regretted that the council's programme had failed to stabilise prices, but instead had resulted in an demand for wool and tops at issue prices. The consumers were not benefiting, because the auction prices were governing the prices of manufactured goods. Mr. Goldfinch anticipated an early improvement, and pointed out that imports in the five months ended May included 1,370,000 bales of Australasian wools, probably a, record. The estimated total stocks in England were over three hundred million pounds. The weight was amply sufficient for the country's own personal purposes and also for the Continental department. They were endeavoring to raise the monthly auctions to 100,000 bales, and arranging a supplementary issue of 100,000 bales for June. He anticipated that offerings by the end of July would exceed the trade's capacity. The demand for tops had outstripped the output, and it would not be surprising if Australia and the United States began to send tops. The cessation of rationing meant practically the cessation |of control. The schedule was out of date. He suggested a committee to fix a new schedule at a moderate percentage | below the prices established at the three latest auctions. The department was striving to increase the quantity offered at auctions, so that by this means, within two or three months, the values might |be reduced 15 to 20 per cent. The Government might hold auctions at Antwerp, and increase the volume of distribution.

Mr- Goldfinch added that Germany would soon be entitled to receive a certain quantity of Australasian wool.

Mr. Raynor moved a recommendation that there be no further issue of Colonial wool for civilian purposes, except at present ascertained prices, namely 20 to 25 per cent, above the issue prices. The discussion was adjourned.—Aus.-N.Z. Cable Assn.