DISPOSAL OF WOOL

Evening Star, Issue 20371, 31 December 1929, Page 9

DISPOSAL OF WOOL

BRADFORD'S SUGGESTION SHIPMENT TO LONDON SALES v TO EASE LOCAL CONGESTION. Ftbm Association—By Telegraph—Copyright. ’ LONDON, December 30. (Received December 30, at 11.10 p.m.) A Bradford message states that further light on British opinion opposing the New Zealand suggestion to extend the Now Zealand wool sales to>May and June each year comes from Mr William Hunter, a former president of the British Wool Federation. Ho expresses the opinion that whatever wool is not sold in New Zealand can be sold in London when the growers decide to accept the market prices. Before the war a very largo proportion of colonial clips was sold in London, and the woollen industry drew its requirements from that reservoir. Since the war it has been the deliberate policy on-the part of growers and selling brokers in New Zealand and Australia to offer the major portion of the wool within four or five months. They are anxious to perpetuate this policy, but, owing to changed financial conditions, importers are compelled to adopt a more conservative policy in buying. They are not prepared without encouragement from other sections of the industry to relieve the grower of the burden of carrying colonial clips for the use of consumers pending the arrival of the following season’s clip. Mr Hunter added that the statement that New Zealand will lose £5,000,000 because of the Wool Federation’s action was entirely erroneous. Growers of wool, like producers of every other commodity, wore _ obliged to accept world market price. Moreover, the Wool Federation’s attitude would not alter the selling value of the clip in any way: the law of supply and demand would determine its price. AUCKLAND TRADE VIEWS. EXTENDED ROSTER NECESSARY. [Speciai. to the ‘ Star.’] AUCKLAND, December 30. A Press cablegram from Auckland has been published in London which states that, owing to Bradford’s refusal to agree to any extension of the roster at the New Zealand •wool sales, New Zealand will lose £5,000,000. In regard to the message alleged to have been sent from Auckland, the local wool brokers disclaim any knowledge of it, and are entirely out of sympathy with its contents. The manager of one leading firm was emphatic that the report had obviously been sent by some irresponsible individual who did not know what he was talking about. Mr R. J. Marquet (president of the Auckland Brokers’ Association), in conversation with a ‘ Star ’ reporter, said that it was not possible to make an official disclaimer offhand, as it was difficult to arrange a consultation with the other members, but he personally considered that the report had been unwarranted and misleading, and certainly lacked authority so far as the Auckland brokers were concerned. “It is just possible,” Mr Marquet added, “that the message may have been mutilated in transmission.”

The president of the association took the opportunity to make the position clear on tho question of the sales roster. “The wool brokers,” he said, “have been endeavouring to arrange for an extended roster, and so far they have had no official advice that"this will not be granted; in fact, they are honefnl that it will, fn regard to Auckland, an endeavour was made to induce the brokers to agree to a smaller allotment than the 2CkOOO bales agreed nnon for tho January sa’e, but the ’oral renresentntives stood out firmly for the miota. This actually will he insuffi'- : eut, as irmch wool was either not ready for the November sale or was carried forward;” In view of tin's (said Mr Marquctl there were indications that some of the growers who usually market their wool locally were talking of sending it south, hut in this connection he was emphatic that the chances of inclusion in that event would he less, as the carry forward from the earlier sales ni the south had been very heavy. This had been due to the fact that the nnssings had been as high ns 40 ner cent He telt that an extension of the roster must come.

AGAINST 10HGEP SEASON THE BUYERS’ COHTENTIQN WORK IN TWO HEMISPHERES. FINANCE ALSO A FACTOR. LONDON, December 30. (Received December 31. at 10 a.m.) A Bradford message states that the Wool Federation is opposing any extension of the New Zealand wool sale season, because buyers are anxious to go to England by the end of March or the beginning of April. Mr George Whitaker, president ot the Wool Federation, contends that the value -of the New Zealand clip could not be enhanced by an extension; nevertheless, the New Zealand selling committee could extend the season if desired. . Mr William Hunter, past president of the federation, said the importers had adopted a conservative policy of buying, and were not prepared, without the support of other branches of the wool industry, to relievo the growers of the burden of carrying the clips for the use of consumers until the arrival of the following clip.