COMMERCIAL.

Otago Daily Times, Issue 18280, 24 June 1921, Page 4

COMMERCIAL.

TALLOW MARKET. LONDON, June 22. (Received Juno 23, at 10.20 p.m.) At the tallow sales 1387 casks were offered and 393 sold. Fine mutton, 35a per cwt; medium, 32s 6d. Fine beef, 40s per cwt; medium, 34s.—A. and N.Z. Cable. AU S TR ALIAN MARKET S. SYDNEY. Juno 23. (Received Juno 23, at 10 p.m.) Oats: Algerian feed, 3s Id; white feed, 3s Gd. Maize: Yellow, 4s 9d; while, 4s 6d. Potatoes: Tasmanian, .05 to £7 10s. Onions: Victorian, £4 10s to £7. ADELAIDE, June 23. (Received Juno 23, at -10 p.m.) Oats: Algerian feed, 2s 4d. WOOL COMMITTEE. TO BE SET UP IMMEDIATELY. (Per United Press Association.) PALMERSTON NORTH, June 23. At a smoke concert in connection with the Manawatu Winter Show to-night the Minister of Agriculture announced that the Government had decided, on tho recommendation of the Producers’ Committee, to set up a Wool Committee, consisting of two woolgrowers (representing the North end South Islands), two wool brokers (one of whom will also represent the freezing companies), and one representative of the Government, who will be chairman. The committee is to advise the Government in regard to the regulation of wool sales, and the issuing of regulations under the Board of Trade Act. The committee/ will act in co-operation with “Bawra” only in fixation of minimum reserves and tho limitation of offerings, and involves no payments towards “Bawra” expenses. New Zealand woolgrowers will retain in their own hands complete control of their own affairs. The names of the Wool Committee will be gazetted in a few days, and regulations will bo gazetted forthwith. REGULATIONS GAZETTED. DETAILS OF THE SCHEME. WELLINGTON, June 23. Tho Board of Trade (wool industry) regulations gazetted to-night provide for the setting up of a New Zealand Wool Committee, consisting of two representatives of wool brokers, two representatives of woolgrowers, die Government representative (who shall be chairman), and such other persons as the Minister may appoint from time to time, to hold office during his pleasure. Three members of the committee are to form a quorum. Power is taken for the Board of Trade, on the recommendation of the committee, and with the approval of the Minister, to fix by resolution the minimum prices for various kinds and grades of wool. It is mad© unlawful for any person to sell or buy wool tit less than the prescribed prices. With tho approval of the Minister, the Wool Committee is empowered to determine from time to time tho maximum aggregate quantities of wool that may be offered for sale by private treaty or public auction in any period; to fix tho maximum quantity of wool that may be offered at any specified sale, whether by private treaty or public auction. It is also provided that no person, may sell wool by auction or on commission, otherwise than by auction, except on a permit issued by the Wool Committee, and in compliance with the committee’s instructions. As to the maximum quantity of wool to be offered, it is made unlawful, too, for any person to export wool except (1) under a permit from the Wool Committee; or (2), subject to an undertaking to the Wool Committee that he will not sell his wool in any country at less than tho prescribed minimum price, plus an actual and reasonable amount of freight, insurance, and other charges for giving delivery. The wool regulations do not apply to wool sold by private treaty in quantities not exceeding 8001 b weight, but two or more sales made between the same parties, at or substantially at the same time, will be considered to be *on© sale. INVERCARGILL WOOL SALES. BIDDING NOT KEEN. (Per United Press Association.) INVERCARGILL, June .23. At the Invercargill wool sales there was a fair attendance of buyers, but bidding was not as keen as at the previous sale here in January. Tho bulk of tho wool was bought by overseas buyers. The greater' part of the catalogue was good to medium crossbred, very few lots of the finer qualities being offered. Choice crossbreds sold well, others were not so easy to clear. Following is a list of the prices realised;— Halfbred, medium to good, 7|d to Did; three-quartorbred super, medium, 6d to 7Jd; inferior, 4*d to sd; quarterbred, medium, 6d to 8d; crossbred, super, GJd to 8d; medium, 4Jd to 7d; inferior, 3d to 4d; pieces, medium to good, 2Jd to sd; inferior, IJd to 2d; bellies,' medium to good, 2Jd to 4d; inferior, lid to 2d.