WOOL SALES PROCEDURE

Press, Volume LXXXVI, Issue 26031, 7 February 1950, Page 4

WOOL SALES PROCEDURE

QUESTIONS ASKED BY CORRESPONDENT AUCTION OF BINNED LOTS An explanation by the Christchurch Woolbrokers’ Association of the procedure adopted in selling pari bales of wool submitted for auction at Christchurch wool sales has been made in reply to a correspondent of “The Press]’ who signs himself “Woolclasser.” The inquiry by “Woolclasser” was as follows: Sir, —In my letter of December 27 I referred to the part bales of wool, of a station clip, which had been classed by a woolclasser on the station. and after coming into the wool* brokers’ hands, had been diverted, or reallotted, with the varieties of brands catalogued as “Roa,” “various," etc, thereby biding the station brand of part of that clip. I would like to know if the woolbrokers charge the statipnholder for the labour of reclassing and repacking that particular lot of wool which has been diverted from the station brand, and manipulated to “various,” etc., the station having already paid the woolclasser for doing the work. It wpuld be interesting to have an explanation. The association’s reply said: “Regulation 19 of the New Zealand Woolbrokers’ Association Conditions of Sale and Regulations, 1950, reads as follows:—a main lot shall be: (a) four or more bales of any one brand: <b) six or more grouped bales in the South Island, eight or more grouped bales in the North Island, six or more grouped bales of Southdown fleece or lambs’ wool in the North Island; (c) any three bale lots of super fleece or super lambs of any one brand; (d) two three bale lots of super fleece of their particular class in the North Island if all are opened and shown end on; (e) up to six two'-or three bale lots of binned wool in each catalogue; (f) up to six grouped lots of not less than four bales in each catalogue. A ‘Star’ lot shall be: any lot consisting of any lesser than that required for a ‘Main’ lot Regulation 23 reads as follows'— ‘Star’ lots shall be lotted and shown at the end of the main catalogue and shall be sold at the conclusion of sale of all the main lots in the sale. . . ■ “The numbers of buyers who attend the sale of ‘Star’ lots are very few. and they are invariably sold at a discount. It is. therefore, considered advisable by brokers in the best interests of their clients to turn such ‘Star lots into ‘main’ lots by interlotting, for which a nominal charge is made. If however, interlots of the reauired size cannot be made, the only alternative to avoid a ‘Star’ lot is to sell through a broker’s bins, and in this case to comply with the regulations it is necessary for each fleece to go over , the table again in the broker’s store.