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Daily Telegraph (Napier), Issue 5189, 9 April 1888, Page 2

An agitation is proceeding in Sydney for a reduction in bids at the London wool sales ' from one half-penny to one farthing per lb. It is contended that the colonial producer is ofton a loser of a farthing through the present system, and that an alteration would lead in many cases to an increased prico being realised. On tho other hand, it is contended that under the present system, through tho valuation being wider than that proposed, there is more opportunity given to tho purchasor to value a larger range, and that now the buyor, owing to tho present limit of tho bids, in most instances, if he wishes to secure a particular lot, has to bid his reserve at once, and thus the colonial producer is thorougly protected. In Melbourne at one time bids of one-eighth wero taken, but when business increased they bad to bo abandoned, and now they aro only taken in cases of dispute. When wo bear in mind tho enormous quantity of wool dealt with each day in London during the season, thoso who object to any alteration say the sales would bo protracted to too late an hour. Tho agitation is not confined to the one point, for tho Syduoy people have very strongly objected to tho "draft" allowance, by which buyers are allowed lib for every 1121b bought by thorn, this being in addition to a full and adequate "tare" allowance. Whatever differences of opinion may exist on tho question of the limit of bids there will bo none as regards the " draft," for all wool-growers will support the Sydney people in their contention that tho allowanee'is vexatious, absurd, and inequitable.