STORAGE PROBLEM

Otago Daily Times, Issue 25673, 23 October 1944, Page 4

STORAGE PROBLEM

REMOVING BALES FROM CITY STORES

The Christchurch Woolbrokeijs’ Association (states the Star-Sun) is calling tenders for the removal of 14,000 bales of wool from city stores to the Addington Show Grounds for emergency storage. The same thing is going on all over New Zealand to make room for the new season’s clip, so that it may be taken into store, appraised, and paid for. It is estimated that by the end of the season New Zealand wool stocks will exceed 1,000,000 bales, worth at least £20.000,000.

Lack of shipping Is not the reason for the pile-up. The United Kingdom has been buying the bulk of the world’s wool since the start of the war, but has been using or otherwise disposing of only a proportion. Further storage cannot be found in Britain, and so the countries of origin are being called on to do the job. Storage is being paid by the British Government. Appraisals during the 1942-43 season covered 950,607 bales, and there was a carry-over of 19,636 bales as at June 30, 1943. Overseas shipments in this period totalled 745,321 bales, and the average value a bale was £2O 2s Bd.