WOOL SALES.

Press, Volume LXIII, Issue 18917, 4 February 1927, Page 10

WOOL SALES.

LIMITING ALLOCATIONS.

COMMITTEE EXPLAINS REASONS

[THE FBES3 SpedM Sertfce.]

WELLINGTON. February 3.

The New Zealand Wool Committee held ii special meeting this week to give further consideration to applications which it had received from certain wool selling centres that the allotments mado by the Committee for Februatv wool sales should be incrca.cd. This committee wa.s first set up bv the Government in l n 2l under the powers of the Board of Trade Act. It is an body, consisting of representative woolgrowcrs and woolbroker-, and it> function is to determine the maximujn aggregate quantities of wool that may be offered ior -ale in any [criod, or at any sale. The official statement issued on behalf ol the committee by its chairman (Mr William Perry, of Masterton) is as follows.--

"The aim of the Committee lstoreunlnto the offerings at the various wool soiling centres throughout the Dominion so that at no one sale, or during any particular period, shall more wool be offered than can be absorbed at satisfactory competitive prices. In making tho allocations heed must be civen to the fact that shearing is earlier in certain parts of the Dominion than in others, and also to the comparative quantities on offer throughout the season in the different districts. Although it is only natural that individual centres should view tho matter from a district standpoint, and while the Committee must deal with each on its merit', it must be apparent that the Committee can only consider the claims of each district in relation to the paramount, importance of tho whole Dominion. "Disturbing the Market."

"Tho allocations niado by tho Committee earlier in the season provided for an estimated offering during the months of January and February, the two heaviest months, of 142,171 and 144,76(5 bales, respectively, making a total of 256.9.17 bales—this out of an estimated total offering in all sales in the November -March roster of, approximately, 000.000 bales. The Committee, at its' recent special meeting, fully reviewed tho position from iho viewpoint of the Dominion as a whole, and with the latest figures before it relating to tho quantities in store and estimates to arrivo for the remaining sales of the season. It was forced to como to tho conclusion that there would be a very grave risk of disturbing tho present healthy tone of the market if the aggregate quantities already allotted for February offering at tho various centres wero increased in any instance. Further—and this is Important—lt would reduce tho quantities available for March sales, at present estimated at 103.500 bales for tho seven sales to bo held that month, and the Committee feels stronrrly that, the aggregate offerings lor the March sales throughout tho "Dominion must be conserved in adequate quantities in order to ensure a continuance of competition from a lull bench of woolbuyers." REPLY TO AUCKLAND. (THE PRESS Special Sorrier] AUCKLAND, February 3. In reply to a protest niado by the executive of tho Auckland Woolbrolcers' Association to tho New Zealand Wool Committee in regard to its refusal to increase the allotment for the local sale, which commences on February 21st, the chairman of the local Association (Mr H. D. Robinson) this morning received the following telegram:— "The "Wool Committee again gave lengthy consideration to your application for an increased allotment for the February sale, but regretted that it could not grant an increase. Letter following."