| Show BY HOOVER DEBT PROPOSAL immediate reaction to president bovers oo vers proposal of a one year mora gium on international world war debts and its resultant stimulating et erects on stock markets of the world come from the indus according to reports received by national wool marketing corporation po ration from 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 through acceptance of the hoover proposal appears to hold promise of better wool prices to the producers since the presidents suggestion was made public there has been a reluctance on the part of growers to sell their wools at prices now offered in the field the most pronounced effect of the moratorium proposal has been among agricultural bankers who control the marketing of a considerable volume of WOOL paul A draper president of draper company sales agency tor the national wool marketing corporation now growers in montana reports that bankers and growers in that state are greatly encouraged and feel that the reaction of business to the hoover proposal justifies anticipating higher prices for wool J B auson secretary treasurer of the cooperative also in the west reports a similar reaction in wool producing circles officials of the national believe that if growers and their representatives who have control of the 1931 wool not yet sold or consigned are inspired by the hoover proposal and the reception given it to resist low offers it will mark the beginning of a stronger and more active wool market for the last month to six weeks growers have been sacrificing wools in large volume at below their real value even on the depreciated precia ted boston market of today these wools quickly moved into consumption at a very low dealer margin have had a depressing effect the national believes that these alde i spread sacrificial sales of wool which now appear to have reached an end have been responsible for the low market of recent weeks sol mayer president of the national spent most of june in boston study ing the cooperative 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 iwas probably in the most favorable position of any commodity and strongly urged growers to resist below the market sales mr mayer urged growers to consider the steadily rising wool consumption pointing out that the outlook had not been brighter in many years during the period when growers were selling their wool at the best cash price they could obtain the national gently pleaded with them to con alder the outlook and desist from such practices in many sections these appeals brought results soon after the national issued these pleas new high grease weight prices were established hi texas and wyoming it appears now however that the stimulus resulting from the hoover proposal has given the wool producer the real for he needed to resist the ridiculously low offers for his wool |
