The rayon indi competitor of wool, but world consumption of both fabrics had widened to such an extent that there is room for both these commodities while pri es remain approximately at their present level.
The search for wool substitutes is being intensified in Germany, and although considerable progress has been made in the development of an artificial fore it has not yel reached the stage of displacing wool às an essential fabric in wearing apparel, The present position is that a fabric containing wool and wool-substitute is now being widely used in Continental countries. One favour-üble element in this situation is that [the greater demand {or the fabric ihe greater the consumption of wool. Certainly the tendency is towards a reduction of the quantity of wool used and un increase in the "portion. of the wool substitute.
While average prices for wool do npt exceed, say, 1s. 3d. per pound sterling. producers may look forward confidently to the prospect of all their production being readily absorbed. This price represents a payable return for Australian, New Zealand and South' African producers A de mated by a which investi toral condition: tralia, With particular reference to wool p 01 produc. tion, that the cost of producing a pound of wool was Na,
Text read from the printed page and cleaned; old type leaves the occasional error.