WOOL REQUISITION.

New Zealand Herald, Volume LVII, Issue 17361, 7 January 1920, Page 7

WOOL REQUISITION.

PROSPECTS FOR FUTURE. CONGESTION IN STORES.

PAYMENT OF SURPLUS PROFITS.!' ' i Matters connected with the Imperial requisition of wool were discussed yester- | day by Mr. A. W. Perkins, chairman of j the Auckland Woolbrokers' Association, j Mr. Perkins stated that there was great j congestion in the stores in England just now, and according to latest advices there appeared to be little likelihood of the stored wool being disposed of before the next season's clip was ready for market- > ing. Ho added that apparently every ' eflor), was being made by the Imperial authorities to ease the congestion in the j stores, and wool was now being sold on i " description " instead of being displayed ; for inspection by the prospective buyers, j This method of sale was rendered necessary owing to much of the wool being j stored at centres distant from the places , at which the sales were held. Apparently i the results of such sales had • been uatis- | factory as a certain quantity of wool for sale by description was included among j the offerings at each wool sale. I Mr. Perkins 6aid this method of selling [ obviously facilitated 'Ae distribution of j the wool, as it saved the time occupied j in preparing it for exhibition Mid also conserved 6pace in the stores. Each let sold i in this manner was fully described in the i published catalogues by the Government valuers, and there appeared to be no reason why the system should not be found

satisfactory. In regard to what was likely to happen at the termination of the requisition period at the end of the present season, Mr. Perkins said it appeared likely that delay would occur in getting nest season's wool marketed. It was only reasonable to expect the.t the Imperial Government would transport and sell the material it had purchased before it allowed the new season's wool to reach the market. . This, however, should not cause a great amount of inconvenience, as unless something unforeseen occurred reasonable advances i would no doubt be obtainable by the wool, I growers on the new season's clip pending j its transport and sale. He added that the j process of returning to normal conditions > in regard to the disposal of our commodi- ! ties wa a gradual one, and that much j would depend upon the freedom from in- 1 dustrial strife both in New Zealand and ,

in the older countries where the markets existed. It was a widely held opinion that whatever inconvenience or loss might be occasioned 10 producers during the period of reconstruction there would be an increased demand for the Dominion's staple products as soon as the present difficulties of transport and distribution had been overcome. Referring to the matter of the surplus profits on wool not required for army purposes, M. Perkins said it appeared to be extremely unlikely that any division of profits could take place until the whole of the wool purchased under the requisition had been disposed of. Large stocks of wool had been held in various places during the war, and difficulty was■ still beincr experienced in finding storage space in England, while it was impossible to reliably estimate the various charges that would be incurred before the whole quantity obtained under the requisition had been disposed of. This meant that the j whole of the wool now held in store, ?.s well as the present season's clip, would have to be sold and all charges met before any allocation of profits between the Imperial authorities and the, woolgrowers could be msde.