Wool Producers Encouraged Encour-aged by Hoover Program Immediate reaction to President Hoover's proposal of a one-year moratorium on international world war debts and its resultant stimulating stimu-lating effects on stock markets of the world, has come from the wools-rowing industry, according to reports re-ports received by the National Wool Marketing Corporation from its its local units in districts where considerable volumes of wool are yet held by producers and their representatives. The prospect of stimulated international business, and the regain of confidence in the world financial structure thro acceptance of the Hoover proposal, appears to hold promise of better wool prices to the producers. Since the President' suggestion was made public there has been a reluctance on the part of the growers to sell their wool at prices now offered in the field. The most pronounced effect of the moratorium proposal has beep among agricultural bankers, who control the marketing of a considerable consid-erable volume of wool. Paul A Draper, president : of Draper & Company sales agency for the National Na-tional Wool Marketing Corporation, Corpora-tion, now visiting growers in Mon-1 tana, reports that bankers and --.rowers in that state are greatly encouraged and feel that the reaction re-action of business to the Hoover proposal justifies anticipating high i prices for wool. J. B. Wilson, secretary-treasurer of the Cooperative, Cooper-ative, also in the West, reports a similar reaction in wool producing circles. Officials of the National believe that if growers and their representatives, repre-sentatives, who have control of the 1931 wool not yet sold or consigned, con-signed, are inspired by the Hoover Hoov-er proposal and the reception giv en it, to resist low offers, it will mark the beginning of a stronger and more active wool market. Foi the last month to six weeks growers grow-ers have been sacrificing wools in large volume at below their real value, even on the depreciated Bos ton market of today. These wools quickly moved into consumption at a very low dealer margin, have had a depressing effect. The National Na-tional believes that these widespread wide-spread sacrificial sales of wool, wnich now appear to have reached an end, have been responsible for the low market of recent weeks. Mr. Sol Mayer, president of the National, spent most of June in Boston, studying the Cooperatives and the wool market. He was greatly encouraged at the outlook for wool, and shortly before his return home to San Angelo. Texas, he issued a statement in which he expressed the opinion that wool was probably in the most favorable position of any commodity, and strongly urged growers to consider the steadily rising wool consumption, consump-tion, pointing out that the outlook had not been brighter in many years. During the period when growers were selling their wools at the best cash price they could obtain, the National pleaded with them to consider the outlook and desist from such practices. In many sections these appeals brought results. re-sults. Soon after the National issued these pleas, new high grease weight prices were established in Texas and Wyoming. It appears now. however, that the stimulus resul'.ing from the Hoover proposal, propos-al, has given the wool producer I the real fortitude he needed to I resist the ridiculously low offers for his wools.