Wool Commission's Decision Praised

Press, Volume CVIII, Issue 31579, 17 January 1968, Page 14

Wool Commission's Decision Praised

Support for the Wool Commission’! decision to offer some of Its stock wools at the recent Dunedin sale and the sale now being held in Christchurch was expressed yesterday by Mr D. L. Ambler, manager of Ackroyd Brothers (N.Z.), Ltd, wool merchant. “I consider your criticism of the Wool Commission’s decision to be quite unjustified," said Mr Ambler, referring to a leading article in “The Press” on January 11. “The Wool Commission has suffered its fair share of criticism, some of it perhaps justified, but this makes it all the more important to give it credit when it is due, and I consider this to be such an occasion.

"Your editorial states, ‘in fact the slender evidence available suggests that world crossbred prices were declining throughout the period. It is all the more surprising then, that the commission should have chosen to put some of its stock of wool on the market at this stage.' “From this one would gain the impression that the Wool Commission was going to reoffer crossbred wools. Such, of course, was never its intention. Almost the entire offering in Dunedin and in Christchurch has consisted of halfbred and Merino wools, both categories of which are in good demand. This has been adequately proved by the prices realised for these reoffered wools, 90 per cent of which have shown the Wool Commission a profit. “Extra Weight” "Another misleading point in your editorial is the suggestion that “the extra weight of wool coming on to the market might depress it further.’ ‘“This extra weight’ consisted of about 1400 bales, a quantity unlikely to have any great effect on the market in any circumstances, but here

again the salient point is that these particular wools were the types keenly sought by the trade, and being early season’s wools are of a style not available at present in any quantity. "I think it is necessary to acquaint not only the growers but also the general public of these facts, for although the Wool Commission may have its faults, it is nevertheless a most efficient organisation and its executives are not going to offer any of their stock without first considering all the relevant factors. When, as in this case they do decide to put any of their stock on to the market, you can be quite sure they are reasonably confident that it will sell at a satisfactory price. “And, finally, I would like to point out that, from the New Zealand woolgrowers' point of view, the sooner the Wool Commission stockpile is disposed of the better, and therefore no opportunity should be lost to reduce this stock, whether it be by offering 1400 or 140,000 bales at any time that the Wool Commission considers opportune,” Mr Ambler said. Cool Winds Cool winds and cloud kept the temperature in Christchurch yesterday to a maximum of 65 degrees, recorded at Harewood at noon. During the morning a light to moderate southerly blew, but by midday it had changed to a fresh north-easterly. The temperature rose slowly from 49 degrees recorded at Harewood at 6 a.m. to 60 degrees at 9 a.m. After reaching the maximum the temperature dropped slowly as cloud and wind increased. At 3 p.m. the temperature at Harewood and at the Botanic Gardens was 63 degrees. A temperature of 65 degrees was shown on the Government Life building gauge at 4.30 p.m.