THE WOOL SALE

Dominion, Volume 9, Issue 2671, 18 January 1916, Page 6

THE WOOL SALE

POSTPONEMENT POSSIBLE LIMITED CATALOGUE TO BE OFFERED STORAGE DIFFICULTIES The shortage of ships to carry our wool to London has brought about a somewhat serious state of affairs all over New Zealand. A Press Association message from Dunedin yesterday announced that fihb wool sale fixed! for to-mor-row had been postponed indefinitely owing to uncertainty as to the provision of shipping space.for the wool. The message stated that the northern wool sales would also have to be postponed pending some satisfactory understanding as to shipping space. On January 14 the Invercargill sale was held up for somo time until the brokers agreed to the buyers' stipulation that the time for payment should be extended beyondi the usual fourteen days to such time ,as ships should be available to take away the wool. The details of this agreement have not yet reached .Wellington,• but the arrangement must be a cumbrous one for everybody, and it is ; certain . that no such compact will-he made here for the next I sale on January 25. Wellington ivoolI brokers met yesterday to consider the best course to take in the abnormal circumstances; and at tho meeting agreement was reached as to a moro simple compromise. The catalogue for tile pie is about 35,000 bales. Steamer space is in sight for 3000 bales only, but there is a-good chance of two ofchor ships being available, which will increase this amount to 6000 bales. Assuming that space for 8000 bales is available, thfe . Wellington woolbrokers have in mind to offer a limited catalogue of 10,000 bales. This would allow a margin for passed-in lots, and for absorption by local mills and local manipulators, leaving aibout 8000 bales to be sent Home. There is a sale at Napier on Jamiary 28; for which 10,000 bales are offering, and ho doubt some compromise mil have to be made about it. Tor tie February sales the catalogues are usually much smaller, but it is impossible to say how big a percentage will have to be carried over from January this year. Indeed, the' opinion is expressed that instead of having the last wool sales of the season in March, we shall still be holding sales in May or, even later than that. It would be pure guesswork to say what effect all this will have on wool prices. For tie present it will cause a great dead of, inconvenience, financial and otherwise, and will, make both buyer and seller unhappy. In Wellington there is another difficulty—that of storing the wool until the ships come to take it a ray. Every wool store-in the City is full, and a great many buildings, not afcall suited for the. trade, 1 are now filled with wool. All over the town wool is stored, and a building that will hold 500 bales of wool ■will find a ready lessee at a good rental. So serious is the position that steps have been taken by the woolbrokers,. by interviewing the Harbour Board 1 and the Railway Department, to prevent aiiy more wool being brought here. Farmers will have to make shift to keep their own wool for a time,- but this is no easy matter for. many or them, for in this part of the country few farmers have space for their own clip. At shearing time they get a truck load or moro away before the whole flock is cut o>ut, and so eke out their limited store space. However, the storage problems are as .nothing to the financial problems which are sure to occur, and which will present themselves to different people and institutions in a multitude of ways, according ■to their circumstances. DUNEDIN SALE POSTPONED. ! ' By Telcßiaph—Press Association. [ Dunedin, January 17. A meetiDg of the Dunedin Woolbrokers' Association was held this afternoon to discuss the deadlock in connection with the shipment of wool, from the Dominion. It was decided to communicate with the Government, members of Parliament, and the shipping companies, and request them to use their best.ondeavours to secure shipping space to carry wool from New Zealand. It was also decided to, if possible, hold the sale set down for Wednesday of this week in conjunction with the February sale.