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Show World Wool Men Are Cheerful United Press Staff Correspondent PARIS UU: The carry-over wocl reserves of the world were cut in half last year as a result of increased use of woolen cloth and decreased production according to M. -Maurice Dubrulle, President of the International Wool Federation. Feder-ation. He said that the wool industry in-dustry faced better days despite the woitd depression. The Australian "carry-over" of 146.000 bales in June. 1932 was re- duced ty June. 1933, to 42.000 bales. The New Zealand unsold wool stocks were 246.000 bales for 1!32 but dropped to 75.000 at the end of the 1S33 season. The increase in woKd prices has been so constant that the 1033 wool gathered in Australia will e worth 50.000,000 pounds as compared com-pared with 37,000.000 pounds in 1932, despite the reduction of the size of flocks in Australia and New Zealand which is estimated to have resulted in a diminishing of the available wool by 70,000 bales. "The eyes of all wool growers are tu.Jied towards the United States which is engaged in the greatest attempt at directed-econ-omies in history," M. Dubrulle said "If President Roosevelt's experiment experi-ment succeeds, what a lesson for the world; if it fails, what a catas-trophy. catas-trophy. "Wool growers are hit Dy the world crisis which we see caused by political uncertainty, instalibity of currencies and anarchy of production pro-duction and distribution. The tremendous tre-mendous needs of the postwar market, hungry for raw materials, resulted in an increase of quantity and speed of production without anyone pajTiig attention to the future. An economic accident followed. fol-lowed. "Today, the wool industry certainly cer-tainly has Improved after being hard hit, but. never upset by the world crisis, "by the debacle in the United States and by the failure of the London Economic Conference." I |