Selling of Wool

Manawatu Times, Volume 63, Issue 40, 17 February 1938, Page 2

Selling of Wool

LEGISLATIVE ACTION OBJECTED TO United Press Association—By Electric Teleg i-aph.—Copyright. WELLINGTON, Last Night. Mr. Herbert Hill, president of the New Zealand Woolbuyers’ Association, has received tie following cable message, dated February 10, from the British Wool Federation, Bradford: “A fully attended meeting to-day unanimously passed a motion that this meeting, consisting of colonial wool importers and buyer.s, having considered the contemplated legislative action which is being taken to change the terms on which wool shall be sold in future in luo Dominions by abolition of the draft allowance, desires to protest most emphatically against any change being made in the existing conditions without the full concurrence of the buyers’ organisations. Failing such agreement and the fullest consultation between the buying and soiling organisations, we agree to take whatever action the federation considers necessary to protect and maintain the interests of our members in this matter. ” MINIMUM RESERVE PRICES Received Thursday, 1 a.m. SYDNEY, Feb. 16. The Woolgrowers’ Council decided to’ ask all Dominion growers’ representatives, when they meet in London shortly, to consider a plan to fix minimum reserve prices for wool for future seasons. The proposal is inspired by the low prices during the current season. No similar action has yet been taken by the Dominions in conjunction, but in 1923 the Australian growers established a reserve price.