SELLING OF WOOL

Otago Daily Times, Issue 23044, 21 November 1936, Page 9

SELLING OF WOOL

A REORGANISATION PLAN LIMITATION OF QUANTITIES (Per United. Press Association) WELLINGTON, Nov. 20. A scheme by which wool buyers would stay longer in New Zealand was put forward by Mr Bernard E. H, Tripp, of Timaru. Amplifying the remarks he made at Auckland on his return from a tour of Britain and the Continent. Mr Tripp said that at present wool was sold in lots of 25,000 to 30,000 bales a day, which was a very out-of-date system and one that was unfair to the growers. The limit should not be more than 10,000 bales or even 8000. The wool buyers would then value the wool each morning, and the selling would take place in the afternoon. This procedure had already been adopted in London and Sydney. “ There is an immense market for wool if it is properly organised.” said Mr Tripp. “ The Labour Party is to be congratulated on passing the Wool Industry Promotion Act, containing provision for a wool levy. The woolgrowers will want to be very careful how the money from this levy is spent.” Russia was one country mentioned by Mr Tripp as a possible future market for the New Zealand product. China also was taking more wool every year.