AUSTRALIA’S WOOL

Greymouth Evening Star, 21 October 1939, Page 8

AUSTRALIA’S WOOL

APPRAISERS AT WORK. SYDNEY, October 11. The Imperial wool purchase scheme was launched in a practical way in Australia on Monday, when a small army of appraisers began the valuing of the 1939-40 season’s clip in three huge city wool stores. About 13,000 bales are being appraised daily. The classification of the clip is on a much more elaborate basis than at the time of the last British purchase in 1916-18, the “table of limits” now comprising nearly 1600 types as against 848 in the -previous scheme Although no official announcement has yet been made regarding the price the British Government is to pay for the wool, the fact that the table of limits has been worked out to the last detail indicates that the figure is known. In trade circles it is estimated at 13.4375 d a lb, and this is generally believed to be correct. (It has been announced by cable that the price is 13.4 d per lb, Australian currency). Along with the Government appraisers are representatives of the local wool selling agents, all furnished with tables of values and catalogues, the latter prepared as if for an ordinary sale. With sample bales opened, they pull out armfuls of the greasy staple, examine it for fineness and handling quality, estimate its cleanscoured yield, and note its type and value. In most cases the representatives of the growers are in general agreement with the 1 Government experts as regards values, but points of difference occasionally arise and these are referred to experts. Final appraisers check up on the work... these consisting of two Government representatives and a representative of the wool-selling brokers. With the experience of the 191G-1S appraisement scheme to guide them, those engaged at the stores find the organisation very efficient and smooth-work-ing. The appraisement is all being done in the stores of the wool selling brokers, but the general atmosphere on the various show floors is different from that prevailing during an ordinary selling season. Instead of dozens of prospective buyers, representatives of the brokers, and, frequently, the' owners of the wool, all bustling about among the open bales, there is only a handful of appraisers working methodically along the lines in each store. Apart from a little talk and occasional consultations, the scene is so quiet that it is difficult to associate it with the sale of what will probably be the largest clip ever produced in Australia. So the valuers may not be disturbed in their work, no outsider is allowed to enter the show floors on appraisement day. If a grower desires to see his wool opened up and consult his broker, he must do, so the day before the appraisers arrive. Once they are in possession he has little further to say. It is for them to fix the type, estimate the clean scoured yield, and to mark in the catalogue the price' at which they value it. The following day the final appraisers check up on the figures that have been arrived at, and with them are representatives of the brokers. Where they cannot agree, an arbitrator is called in and bis decision is final. Whether or not the grower is satisfied with the price, he has no option. The wool is described as “much better nourished, heavier in condition, and carrying less dust and burr” than last season’s which was the product of a very bad year, whilst this year’s has been shorn in a season of ~ abundance. Considering that, the " early part of the growing period was excessively dry, it is surprising that there is no appreciable break in the wool. Experts • confirm the reports' that have been coming from the shearing sheds for months that individual growers’ clips are anything up to 25 per cent, above last year’s in yield. This figure would not apply to the whole State, but it may be taken as an indication that the official estimate of Australia’s clip (3,096,500 bales) will be considerably exceeded.