Word: australian
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Dates: during 1940-1949
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...retailers, unable to move men's suits, wanted lower prices. Australian fine wool, said Pendleton, was so high that he could not cut prices...
...Russia. Almost everyone knew that the "high authority" was the Secretary of the Army; no high authority in Douglas MacArthur's command could possibly have said such a thing. Asia was swept by rumors that the U.S. was about to quit Japan. All the way Down Under, an Australian newspaper cried in a mournful headline: "ALONE IN THE PACIFIC...
...fact there's more chance that prices will go up rather than down because the cost of Australian wool is 25 percent higher this year," Menton said...
While the prices of other commodities tumbled (see The Economy), the price of wool kept going up & up. At Australian auctions a fortnight ago, fine wool which had sold in 1946 for around 65? a Ib. brought a record price of $2.42¼. Last week, at the Newcastle auctions, it shot up to $2.76¼, and in Tasmania superfine wool went up to $3.53. Reason: a complete change in the world wool supply...
...this pointed to trouble ahead. Australian wool growers feared that high prices might eventually choke off their market. (In the U.S. high prices had already cut the sale of worsteds, and there seemed small hope of sizable price reductions as long as wool prices stayed up.) In San Antonio, F. Eugene Ackerman, executive director of the American Wool Council, warned U.S. textile men that synthetics might displace high-priced woolen fabrics...