WOOL PROBLEMS.
The Chairman of the Australian Estates and Mortgage Company—Mr. Andrew Williamson—has performed a real service by his observations at the recent annual meeting of that company with regard to the position of wool. After disclosing a very prosperous position as regards his own company and explaining the extent to which that prosperity' was attributable to the recent abnormally high prices obtain- able for wool, Mr. Williamson dealt with the recent fall in that commodity and especially with certain " remedies" which have been put forward. It may be recalled that for some few years the wool sales in Australia were controlled by the powerful Association known as B.A.W.R.A., but the control, quite wisely, was relinquished some time since and conditions have been more or less governed by the ordinary laws of supply and demand. Nevertheless, what with a certain amount of holdings up of wool by large owners, and with unusually heavy demands a year or two back, the price of wool was still maintained at an abnormally high level— conditions which prevailed down to last December when best judges of the situation then considered that a break was bound to come.
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