N.Z. WOOL SALES

Greymouth Evening Star, 17 February 1930, Page 3

N.Z. WOOL SALES

BUYERS OPPOSE RESTRICTIONS. (Per Press Association.) CHRISTCHURCH, February 10. The w’ool buyers representing overseas firms in New Zealand have issued a. statement to the effect that they’ propose to take certain action which is not stated definitely, in the event of the wool offerings at the sales not being sufficiently large. They state there have been suggestions that the selling season should be extended, and that the offerings at the sale should be curtailed accordingly, and that the position has been aggravated by the announcement that the Wellington wool sales catalogue has been cut down to 14,000 bales. It is stated that the buyers have it in mind to absent themselves from the sales unless the offerings are at least 20,000 bales. The statement reads that: —“The Woolbuyers’ Association is in receipt of instructions from the various Wool Federations, which have already appeared in the newspapers, and the buyers will have to follow this out to the best of their ability. It is hoped that the selling end will do all that is possible' to prevent the disarrangement and dislocation of the previous selling arrangements by offering reasonable quantities.”

THE BROKERS’ REPLY , CHRISTCHURCH, February 15. : Regarding the wool position, Mr W. , C. Brydon. President of the New Zealand Woolbrokers’ Association, says that the brokers have not been recommending the growers to withhold their wool from sale, but the growers have withheld it to some extent in the hope of better prices ruling later on. The South Island had had a satisfactory experience this season in the matter of the clearance of wool, and the withholding applied more to the North Island than to the South Island. At the last three wool sales in the South Island, v.’ell ovei’ 90 per cent, of the w’ool had been disposed of under the hammer. In the ordinary course it would not be possible for more than one or two centres to offer 20,000 bales catalogues with the season so far advanced as it is. Approximately half of the season’s clip has already been sold. AUCKLAND, February 16. Commenting on the Bradford wool buyers’ protests regarding the offerings at the sales in New Zealand, the Auck- , land manager of a large woolbroking ’ firm says that the average withdraw- . als from New Zealand wool sales this season have been nothing like 50 per cent. He remarked: “There is really no weight in the impression that the cable message from Bradford has given that either the growers or the ‘ brokers iii New Zealand are trying to hold wool back.”

SOUTHLAND 5 PROPOSALS. INVERCARGILL, February 16. The present serious position of the wool market, was the subject of a discussion at the monthly meeting of the Southland Executive of the Farmers’ Union yesterday. The following recommendations were received from the Meat, and Wool Committee: — fl) That this Executive, realising the very serious position of the woolgrowing industry of the world, and, in particular, of New Zealand, suggests that immediate endeavours be made by the Dominion Executive to arrange a conference of the wool growers of the Dominion with a view to arranging for definite action, having in mind a further conference with the growers of Australia and of South Africa. (2) That the Dominion Executive be requested to approach the Intermediate Credits Association regarding the extension to the members of its assistance in the form of advances against wool, and also to request. Government. backing being given to banks and firms to assist the farmers regarding advances on wool. Both recommendations were adopted.

HOMELAND LOAN. RUGBY, February 15. It was announced at a meeting of farmers at. Leeds that the Government is prepared to assist them in a wool marketing scheme by the loan of £3OOO a year for a term of years-with-out interest, if the British woolgrowers would contribute £5OOO.