WOOL EXPORTS

Evening Post, Volume CII, Issue 14, 16 July 1921, Page 5

WOOL EXPORTS

A QUESTION AND AN ANSWER.

A firm of general exporters inquired of The Post what tho position would be under the wool regulations, if. it bought, say, 1000 bales of wool in the New Zealand'salerooms?" Could tho firm ship the wool Home, and sell it there at any price it elected to take for it? Also would a permit be required from the Customs to ship the wool?

The replies to the above questions, so far as The Post has been able to obtain them by inquiry in authoritative quarters, are: (1) The wool, once it is bought in the Ne,w Zealand saleroom, is absolutely free —the owner can dispose of it how, when, and where he pleases. It is- the duty of the New Zealand broker to see that the wool is bought at or above official reserves. If the purchaser bought, or had bought for him, say, 1000 bales in the New ZeaJand salerooms, then the woolbroker must inform the Customs of the transaction, lodging a certificate with the Customs stating that the 1000 bales were bought at or above the official reserves. This constitutes a permit to export, and the buyer of the wool is then free to do what he likes with the wool—selling it over or under the price paid for it; and to send it anywhere ho pleases. In short, it is absolutely "free" wool.