THE CLASH.

Dominion, Volume 5, Issue 1281, 9 November 1911, Page 4

THE CLASH.

OVER THE LOCAL WOOL SALES. THE BROKERS' SIDE. "NO ONE CAN SEE DAYLIGHT YKT." Respecting the trouble which occurred at Tuesday's wool sale over Clause 2 of tho conditions of sale, Sir. A. E. Mabin (Urn chairman for New Zealand of tho Associated Woolbrofcers of New Zealand) states that an endeavour is being made Jo arrive at a Hilution of the difficulty. home, solution," he says, "may be come to before long, but at present nobody can sw daylight." Mr. Mabin continued as follows-.-"The brokers rjf New Zealand ask for rash before delivery for wools sold. This is in accordance with the conditions of sale, and is a unm-rsal practice in the trade. J. ho rule lias only been partially observed in Nfiv Zealand in the past-' Tho speculator, fellmmigcr, and 1<4,1 operator has had to comply rigidly by put--1:11; up the cash before getting his wool, but the Liujlish or outside buyer has bren allowed to remove or ship the wool b'lpre pavment, ho that he could obtain mils of ladni? for the wool contemporaneously with the paying for it Thia system has obviously an" clement of ri«k about it, and is one that has always caused brokers grave anxiety. WhilVt it may have served its pnrp:sc when the wool trade was young, and tho interests comparatively email, now that the tra/Jo has grown to large dimensions some other loorc business-like method of protecting the interests of tho Belling broker and the. vendor must he adoptcif. "The old system suited the buyers, as it saved them some interest outlay, and provided an easy method for finance, but they must recognise, sooner or later, tluit the system lias to go, and wrollirokers are determined to end it now. It is much regretted that the oversea buyers are objecting, but woolbrokors by giving ample notice—buyers were advised last season of the proposed strict adherence to the terras cash before delivery—have done their part, and, surely, os sellers of goods they are entitled to ask for payment before giving delivery."'

POSITION AT NAPIER. {By Tolcrr»Dli.-Preif Aiioctaition.! Napier, November 8. Offing to the troublo between th* brokers and woolbuyers at AVellington, tho first sale of the season here, set down for to-morrow, has been postponed until November 29. A conference is likely to take place, and hopes are entertained of an adjustment.