DISPOSAL OF WOOL.

New Zealand Herald, Volume LVIII, Issue 17776, 9 May 1921, Page 4

DISPOSAL OF WOOL.

NEW ZEALAND'S INTERESTS.

CONFERENCE THIS WEEK. NEGOTIATIONS WITH BAWRA. [BT TELEGRAPH.—OWN CORRESPONDENT.] WELLINGTON. Sunday. The Pr6duc«rs' Standing Committee has been summoned to meet in Wellington on Wednesday next to consider matters connected with the wool realisation schertVe. A report from Mr. Mabm, who is representing New Zealand in the negotiations with the British Australian Wool Realisation Association, will be placed before the committee. The extent to which New Zealand will co-operate with the Bawra in the sale of new wool and the realisation of accumulated stocks seems still to be uncertain. The arrangements proposed by the British Australian organisation differ considerably in details from the draft scheme of realisation prepared in New Zealand, and Mr. Mabin's discussions with the Australian directors probably I have related largely to points on which the interests of New Zealand sellers of wool njight be prejudiced. It appears that British and South African woolgrowers are going to remain outside the sphere of the Bawra. This is a very important consideration from New Zealand's point of view since it means that large quantities of coarse wools of the new clips from Britain and South Africa wili be entering the market, and will be free of price limits. Australia, being chiefly interested in fine wools, need not be alarmed by this competition, but New Zealand might find it a very serious matter in a dull market. The situation generally will be very much improved, and the problem of wool realisation will be less difficult if the improved prices recorded at the London sales last week are maintained. Men connected with the industry in this country have been much cheered by the advance recorded in the cablegrams, and are hoping that the worst phase of the s'.ump in the wool market is over. If Bradford is buying again, and if manufacturers generally are of opinion that stable values have been reached, the anxieties of those who have wool to sell will be lessened, though the problem represented by the huge accumulation of old wool will sti'.l require very careful handling.