THE WOOL SITUATION.

Rangitikei Advocate and Manawatu Argus, Volume XLV, Issue 11764, 26 February 1919, Page 5

THE WOOL SITUATION.

iPsr Press As®oeiHtAca.T Wellington, Feb 25

The Hon. Guthrie, actiug-Minister in charge of the Department of Imperial Government Supplies, has received a cable from the Secretary of State for the Colonies, stating that the wool sitontiou is changing rapidly in all parts of the world since the armistice was signed. Contracts for military woollen equipment have been freely cancelled. In the United States and United Kingdom demands for civilian woollen goods have not yet fully taken the place of miiltnry orders, and tne are somewhat depressed. There are buyers at 1918 prices, and sellers are not ready to accept the prices which the buyers offer. The Government lias decided not to buy ttie British 1919 clip. British, South African, East Indies, and South American wool is sold in British markets without restrictions, Australian and New Zealand wool, held by the under the purchase scheme, will be auctioned in London, and will he open to all British and Allied buyers. Reserved prices will be fixed somwebat below the nreseut Bradford issue prices. It is that the first auction shall be held early in April. It is net thought possible to handle by Loudon auctions more than from 100,000 to 160,000 hales monthly, which might not be snlflcient to meet the demand. The Government therefore proposed to continue to issue additional qautities of wool, concurrently with the auction sales, to British and Allied buyers, at fixed Issue prices, revised from time to time as required. Until April 30th at least the present issue prices will be maintained. Mr Guthrie- remarked that tne cables showed clearly the wisdom of the New Zealand Government’s action in recommending the acceptance, on the part of New Zealand producers, of the Imperial Government’s offer to purchase our products for a definitely extended term.