WOOL DISPUTE ENDED.

New Zealand Herald, Volume LVIII, Issue 17844, 27 July 1921, Page 6

WOOL DISPUTE ENDED.

<». THE BILLS OF LADING. SATISFACTORY ADJUSTMENT. WHOLE MATTER TO BE REVIEWED [BX TELEQB.JLPH. —PRESS ASSOCIATION*.] WELLINGTON, Tuesday. The difficulty which arose between the wool buyers and the banks in regard to bills of lading has been satisfactorily settled The matter was placed before the Acting-Prime Minister, Sir Francis Bell, to-day, by the shipping companies, wool brokers, and banks, with the result that a proposal which involved no radical alteration in the present system was made by the banks to apply to sales until the end of the current series. This offer was subsequently submitted to the buyers, who were not at the final deputation, and later it was announced that the difficulty had been adjusted. As a consequence it is intended to go into the whole question of bills of lading and letters of credit, with a view to evolving a satisfactory scheme of a permanent nature before the next wool season. A communication has been sent to the Wool Buyers' Association at Christohurch, with a suggestion that the wool sale be held at Dunedin on August 8, and at Invercargill on August 11. Pending a reply the position in regard to the sales in these centres i 3 indefinite. THE NEXT AUCKLAND SALE. EFFECT OF THE DEADLOCK. The temporary suspension of the wool sales in the Dominion pending an adjustment of the difficulty that arose in respect to the negotiation of bills of lading is not expected to seriously interfere with the next Auckland sale. The chairman of the Auckland Woolbrokers' Association, Mr. A. W. Perkins, stated yesterday that a short postponement of the sale might have to be made. The fixture had been arranged for August 12, and as the difficulty had been settled, very little rearrangement would be necessary. There are now 3600 bales of wool in store awaiting the forthcoming sale, and further consignments should arrive before the catalogue closes. A considerable quantity of wool is still held in store by the farmers, and some of the out-back settlers are unable to get their wool away, owing to the bad state of the roads.