DISPOSAL OF WOOL

Nelson Evening Mail, Volume LXVI, 11 April 1934, Page 5

DISPOSAL OF WOOL

NEW PLAN ADOPTED TO COMBAT PRIVATE BUYING (United Press Association—By Electric Telegraph—Copy right) SYDNEY, 10th April. A plan to combat private country Wool buying which for the past two years has menaced Sydney auctions, has been adopted by tlie graziers’ conference now in session here. The new arrangement, which lias been evolved by the Sydney Wool Selling and Brokers’ Association, aims at increasing the daily offerings and re-arranging what is known as the zone system, so that spinning types come on the market early in tlie selling season. It is proposed to increase the offerings by comparison with last season to 1350 bales a day from 27th August. This continues until 20th December, after which the quantity will be reduced to 1000 bales a day. The total quantity to be offered will he 688,500 bales'. Events prove that the curtailment of the offerings last season was a step in the wrong direction, as buyers were forced to go to the country to obtain spinning types to protect their business. It is also intended that all buyers who sign the undertaking not'to buy in the country shall enjoy special trade privileges, including 14 days’ free storage. One speaker declared that increasing the allocation of wool for sale before Christmas would cause the “loss of countless thousands of pounds.” The conference decided to‘give the new plan a year's trial.