WOOL MARKET.

Taranaki Daily News, 17 May 1920, Page 5

WOOL MARKET.

MR. HUGHES' PROPOSALS. "WOULD DISORGANISE THE TRADE." By Tolojraph.—Press Assn.—Copjrlght. London, May H. _ The British Wool Federation is callin,? a conference of importers of wool Imvers. and others concerned to consider Mr. Hughes' scheme with a viewto protecting the interests of Yorkshire. The Observer says the suspension of sales as proposed would disorganise the wool trade and merely involve it in a repetition of the phase of artificial values which it has already experienced. A reasonable assumption is that artificial scarcity would create another period of soaring values and feverish speculation, and that the trade would have to face a reaction later. Mr. Hushes' suggestion is undoubtedly well meant, but Bradford traders are forced to conclude that he does not renlise how sensitive the wool trade is or bow useless it is for nny country or bodv of people to attempt to institute n fictitious state of affairs in a branch of industry : subject to world-wide in-fluence.—Aus.-N-.Z. Cable Aasn.

THE SCHEME OPPOSED.

STRONG FEELING IN ENGLAND. Received May 1.0, 11 p.m. London, May 1/i. ilr. Goldfinch, interviewed by the Yorkshire Post, said the principal objection to Mr. Hughes' wool scheme from the user's point of view, would he that supplies would be totally interrupted from October to December, when it was essential for the trade that 2l)0;0UO bales should arrive -monthly. Three blank months would bring 'to a standstill a number of mills, especially in Prance and Belgium, as they would "have no stocks. It was necessary for the trade that Government wool should be sold right up to the end'of December, and it would be highly inconvenient if there was no sale here. "I doubt jf it would be practicable," lie added- ."He would no double be able to arrange a reasonable division of shipping between the owners of the new clip and Imperial wool, but it was never our intention to ignore the interests of the growers in respect of the new clip." The Yorkshire Observer states it is probable not much more will be heard of Mr. Hughes' wool scheme. Inquiries show the authorities in London do not regard it seriously. They ought to have little difficulty in convincing Mr. Hughes that there is nothing to be said in favor of the proposal. The opinion is growing here that the scheme, is due to Mr. Hughes being obliged to show a willingness to exert himself in the interest of Commonwealth growers. This is perfectly legitimate, but if the inference is correct the pro-por-al need not be considered alarming. The Times' trade supplement says there is a suspicion that Mr. Hughes' interference is prompted by a desire to nationalise Australia's wool trade, and its wool and textile industries.—Aus.-N-Z. Cable Assn. AUCKLAND POSITION ACUTE. HEAVY ARREARS OF ORDERS. The problem of keeping warm during the coming winter looms ahead of Aueklanders as one that does not admit of easy solution. Radiators have been banned, other methods of light and heating are by no means assured, and from information given the other day by some of the foremost men in the trade all woollen goods are going to be scarcer and dearer than ever.

In reply to a query as to whether the position was better than at this time Inst year, the head of a leading firm gave his assurance that it was a great deal worse. Supporting this statement, he quoted from a letter just received from an English firm in regard to an order for flannel despatched in May, H'lll. Owing to strikes, it could not even yet be completed, and only a small quantity could he forwarded. "What about, local supplies?" he was asked. "What is the position in New Zealand mills?" In reply, he showed a letter from a loi:> -i ill, referring' to nn order which had r-en placed some time ago for 2000 pair. >f blankets. KJOO rugs, and HOI- pieces ol flannel. The letter stated plainly that the order could not be accepted, as orders, placed last year would not be completed until the end of next month. Any supplies available after that date would be allocated fairly among the mill's many customers. A question as to whether Auckland was any better off in regard to woollen goods through the purchase of mills by local firms was answered in the negative. These firms now divided the output among their numerous branches throughout New Zealand, which meant that less was coming to Auckland warehouses than formerly. "Another point in which the retailers are worse off than before is that these wholesale firms are now using up their tweeds for suits and costumes for their own trade, so that much less comes to the retail houses."

Flannel was stated to be in particularly short supply just now, and this was held to be paitj;' due to the fact that a great deal of >.ew Zealand flannel has been used for women's costumes, owing to the continued shortage of low-priced dress goods. /With regard to blankets, it was stated that one leading New Zealand mill had announced that the whole of its output had been allocated for a year ahead. Auckland and Gisborne's portion came to <!7O pairs, and the mill had 500 clients from these districts too on its books. "Why, our firm alone could take the whole lot four times over," remarked another manager. An endeavor had been made to supplement the supply by ordering from English firms, and a cablegram was shown in-„ dicating that the price of good quality blankets thus imported would be £7 10a a pair. . A better quality blanket could be produced locally at three guineas, but unfortunately they were almost unprocurable. The supply of rugs had also been supplemented with English goods, which sold at £2 10s and upward. These, however, were not all wool, and not to bo compared with-goods of local manufacture-