WOOL FOR AMERICA.

Poverty Bay Herald, Volume XLIII, Issue 13899, 24 January 1916, Page 5

WOOL FOR AMERICA.

PURCHASERS IN LONDON. SURPRISE IN THE TRADE. Thc report. of the wool sale.y in London, published on-- Thursday, stated that buyers from- tho .United Slates and tho Continent; were operating. In view of tlie prohibition; against the cxpoi'ts of wool from tbo Dominion to tlie United States, representatives of tho;' woollen trade consider tliat thc position requires sonic explanation. A statement' on the subject was made to an Auckland Herald reporter by the Mini*jter for." Customs aaid' Munitions, the Hon. A. M. Myers. An anhoiuioeriienl was made m Auckland ai 'fortnight -ago by Mr -flyers that, m response to, a request ' froni ' the Imperial authorities, tlie Government would refuse to g'i'a.iit licenses for the export of ' wool, other than that already purchased, to , neutral or allied countries, and that iiAfutufo wool might be shipped only io'.ihG United Kingdom. The general opinion m tlie;wbc*-leii trade then was that if the prohibit. bii. 'had been applied to ensure adequate, supplies for military requirements, neither producer nor broker could offer aiiy reasonable objection. Tlie question was raised whether the prohibition against exports from tho Dominion would apply to the American representatives m London. Tn discussing the cabled report, Mr A. W. Perkins, chairman of the Auckland Wool Brokers' Association, aaid that the trade had certainly been surprised to learn that American buyers wore still permitted t<> operate m London. The view taken m the trade was that if wool might be bouglit m- London for export to America-, thc same, privileges should be extended to the" local markets. Thc present condition was certainly ' calculated to encourage speculation. "I fully- recognise tho anomaly of. the position." said Mr Myers, when this view Of the matter wasi placed him. "Presumably the cabled report is correct m its statements. I would.,! ike to observe, however, that the cables indicate that there was comparatively very, .little New Zealand, wool catalogued for the sales, and that crossbreds, which are mostly required for militaa-y purposes, were extremely scarce. Tlie Government has done everything possible, consistent with it s duty to the Imperial authorities, and, as Minister for Customs I have granted permits for the export of nd less tliaiii 53,0C0 bales of wool to the United States. Our instructions arc, however, definite. A cable, has been' despatched' to tho Imperial authorities asking for advice as to their wishes, and until a. rfeply is "received, no more licenses for shipments to the United States will be issued. As the cable was despatched several days agb.it is anticipated that a renf"*" will be received at any moment which 'will enable those interested m the local wool trade to decide upon a definite course of future 'action. "It is interesting .'-to observe," Mr Myers 'added';'- "that at thc last sale m Cliristehurcli, notwithstanding-' that .the American; buyers' did not operate, the market showed a rising tendency, whicb indicates that tho demand m the Home market is strong. Having regard to the fact that there is at' the moment a, shortage of shipping fa_jlities. the Government is anxious to clear up the present position. The matter is, however, entirely m the hands of the Imperial authorities'. Exactly similar restriction.** upon the cxnort. of all clashes of wool have. T understand, been imposed m Australia." Referring to, the export of pelts, the .Minister stated that up to the present, though norm its* hive to. be obtained as for wool, all applications for exDort to approved cousignves m the United Slates have been favorably 'consider*"-!.