THE COLONIAL WOOL TRADE.

New Zealand Colonist and Port Nicholson Advertiser, Volume I, Issue 86, 26 May 1843, Page 3

THE COLONIAL WOOL TRADE.

(From the Geelong Advertiser.)

A considerable degree of excitement prevailed among the buyers who were in attendance from Yorkshire and the west of England, and Scotland, and the Continent, to purchase wools at the sales now in progress, and for which about 16,000 bales are declared. It has transpired that in the colonies the wools have been falsely packed; that the finer qualities have been placed at the ends of the bales, and in the middle inferior samples, with occasionally dirt, stones, and other valueless articles, to defraud the buyer. The sales were to have commenced the day before yesterday, when the buyers insisted that they should not be held responsible for “ false or fraudulently” packed bales. The selling brokers would not assent to this, and the sales were adjourned, and in the afternoon a meeting was held at the Mason’s Hall, of the buyers, to adopt steps to protect themselves and their principals from the frauds complained of. The chair was taken by Mr. Yarley. Mr. Brook moved the first resolution. All the trade required was fairness and justice; that the wools they bought should be equal to the sample. He moved, That unless the broker excepted fraudulent and falsely packed hales, no purchases would be made, and that the buyers would retire from the sale-room. Similar frauds had been discovered in the German wools, but allowances for false packages were immediately made to the buyer.

Mr. Addison said the plan of falsely packing wools Was a premium to the colonists to cheat the buyers on this side of the water. He had some bales of wool with sand, stones, and greasy fleeces in the centre, while at the end the staple was goodi The resolution was carried unanimously, and a deputation appointed to wait on Messrs. I Simes and other selling brokers, to inform them of the result of the meeting. At four yesterday afternoon, the sale at Garraway’s was crowded to excess by purchasers and others interested. A conference was held between the committee and the brokers. Mr. Simes afterwards mounted the rostrum. The chairman of the meeting intimated that the result of the interview was, that a paper had been drawn up, which he thought satisfactory to the trade, and which would be read. Mr. Simes said he was desirous of consulting

the wishes of the trade, and it had been agreed, that where the bales were falsely packed, due allowance should be made within a month from the day of the sale. He had himself, months since, sent out his desire to the colonists to pack their wools fairly, as a contrary course, tended to damage the interest of the seller, as well as cause complaints on the part of the purchaser.

The explanation on the part of Mr. Simes proving satisfactory, the sale of wools was commenced, and the biddings were very brisk.