THE WOOL MARKET.

New Zealand Herald, Volume LVII, Issue 17622, 8 November 1920, Page 8

THE WOOL MARKET.

, NEW SEASON'S OUTLOOK. WELLINGTON CONFERENCE. SALE NOT RECOMMENDED. A conference regarding the .wool position was held in Wellington last week between the Board of Agriculture and the comjnittee appointed by the recent conference of producers. Dr. Reakes, chairman of the committee, stated that after a lengthy and careful discussion of the various aspects of the wool question it had been decided to draw up a report setting out the whole position, and this would be published in a few days, so that growers would be able to grasp the whole situation. . The discussion at the conference, according to the official report, was of a hopeful character, though the need of caution and the necessity for not dei predating market values by panicky selling was strongly emphasised. The question of finance was discussed at length, and after bearing all the facts of the position the board concurred 4n the opinion of the committee that the time was not immediately opportune for fixing any definite basis for advances, since at present it is impossible to form an opinion as to what will be the actual market selling-value 3of the various classes of wool when the new clip comes forward_for sale. The board noted with J satisfaction that stock and station agents, I and it was understood banks also, would ' be willing as heretofore to make advances ito their respective clients, up to such i amounts as were reasonable in the circumj stances, and, having regard to the fact : that the Government was prepared to j stand behind the producers, the board I fully agreed with the opinion of the comI mittee. It considers woolgrowers would I provide themselves a better future outlook j if they withheld their wool from sale, in i preference to selling it at once at low figures, especially as there is ample storI age accommodation for wool in the Do- • minion, i It was finally agreed • that the British j Government should be requested to hold ! over for as long a period as possible all ; stocks of New Zealand coarse crossbred wool until such time as the market was ; more . stabilised, and, father, to suggest ;to the woolbrokers of the Dominion (especially those dealing with, the coarser grades of wool) that they should come to some, agreement about the minimum prices that they Would advise their clients' to accept for their wool. i , , I BRITISH AUTHORITIES' VIEW. J SALE OF EXISTING STOCKS. j [from our own correspondent.] j ' LONDON, Sept. 23. The Secretary of Munitions has issued the following official statement with regard to the shipment of colonial wools:— "As announced on August 5, the stocks of Government-owned wool remaining on hand in Australia and. New Zealand on August 31 will be. shipped slowly thereafter, as and when required for the purpose of replenishing: the stocks now held in Europe by the Government. Owing to this arrangement the liner companies who had contracted to give the Government, so long as was necessary, the first call on their wool space are now at liberty to carry wool for private shippers, without any restrictions whatever. It is not expected that there will be any difficulty 1 about obtaining steamer space, but intendI ing shippers of unsold wool should inquire J about storage facilities beforehand. * ! "The position up to the present is that both , parties possess absolute- liberty of action. .• The Wool ..Department neither Eossesses nor seeks to obtain any power eyond* that of. regulating the disposal of j the old-clip wool, ■ which is the property lof the Government. If any method of regulating the disposal of new-clip wool should be put into force it will be by the action of the _ woolgrowers themselves, or of the Dominion Governments in the interests of the woolgrowers.'' , ' *