SHIPPING SHORTAGE

Southland Times, Issue 17633, 18 January 1916, Page 5

SHIPPING SHORTAGE

DUNEDIN WOOL SALKS. POSTPONE]) iXI >EPI NIT ELY. LACK OP SHIPPING. The Dunedin wool brokers announced yesterday the postponement of the wool sales, to have been held on Wednesday, 19th inst. The reasons which have led up to this decision are the impossibility of buyers being able to make freight arrangements and the consequent nervousness in operating induced by the difficulties and uncertainty of the situation. At Invercargill the position, which had only begun to develop, was the subject of conference between buyers and brokers, and an arrangement was come to by the latter granting overseas buyers art indefinite prompt date, determinable by shipping facilities, whereby the sales proceeded satisfactorily. On the buyers’ returns from the south they at once proceeded to confer with the Dunedin brokers, but, notwithstanding (says the Otago Daily Times) that the latter at once agreed to grant the same terms as their confreres in Invercargill, the uncertainly and feeling of insecurity became greater as the discussion proceeded, and eventually it was decided to postpone the sale in the meantime. The situation will be reviewed again in a fortnight, and from week to week thereafter, until conditions are opportune to resume operations on tne usual conditions. Committees are being set up by both brokers and buyers to deal with the matter. It is therefore impossible to name even an approximate date for the resumption of sales, hut the buyers are to arrange for the postponement also of the northern sales, which were to follow that in Dunedin in the ordinary course of events, and on their resumption the sales will commence in Dunedin, and the other sales will follow on the altered dates in the order already provided. To give some indication of the problem which has to be overcome, it was stated at the conference that the brokers hold 2000 bales which they were unable to ship out of their Timaru purchases, 10.000 bales ex Christchurch sale (botn of which are already paid for), and about 11.000 bales at Invercargill for which they are committed; and the most searching inquiries reveal shipping accommodation for 23,000 hales during the next six .or seven weeks, with nothing in sight nor vessels that can be named for any portion of the 70,000 hales which were to have been ottered in Dunedin, Wellington, Napier, and Auckland this month. When tit is is borne in mind, as well as the uncertainty whether the vessels (toped for during the next six weeks will he able to rearrange their loading to lift the wools already bought at Christchurch, Timaru, and Bluff, it will at once be seen that such an impasse exists that could only be eased by a postponement of the whole of the remainder of tiie roster of sales in the dominion until the shipping facilities return to more normal conditions. To have forced a sale on buyers who had been rendered nervous and unwilling by such an unprecedented state of affairs would in the present strong position of the market have resulted unsatisfactorily for vendors. As far as can he judged of the market, however, growers have little need to fear that prices will show any depreciation when the sales resume. London reports show animated competition, and anticipate at next sales further improvements in prices. It may, therefore, eventuate that the delay in realisation may prove for growers to be a blessing in disguise. Tlie exigencies of war account for tho reduction in the number of vessels available( and we have no doubt (.the Dunedin Times states) that growers will approve of the decision come to bearing with equanimity any inconvenience that may be caused by the delay. Naturallythe brokers are in some ways disappointed, as they had everything ready, with catalogues almost printed, so that their expense and trouble have to a certain extent been wasted, but consideration of their difficulties and additional troubles consequent on the delay did not weigh with them in deciding the course which appeared likely to result most satisfactorily to the wool-growers.

WOOLBROKERS- RECOMMENDATION*. THE GOVERNMENT APPROACHED. (Per United Press Association.) DUNEDIN, January 17. At a meeting of the Dunedin Woolbrokers’ Association, held this afternoon, to discuss the deadlock in connection with the shipment of wool from the dominion, it was decided to communicate with the Government, members of Parliament, and the shipping companies, and request them to use their best endeavours to secure shipping space to carry wool from New Zealand. It was also decided to. if possible, hold the sale set down for Wednesday of this week in conjunction with the February sale. THE POSITION IN WEDDINGTON. ENQUIRIES MADE IN AUSTRALIA WHARF STORES CONGESTED. WELLINGTON’, January 17. The Wellington wool brokers met today to consider the position arising out of tlie shortage of freight. About 35,000 bales are catalogued for nest week's sale, and the freight in sight is only sufficient for 15.000. Inquiries are being made in Australia, and it is hoped space may be obtainable so that the forthcoming North Island sales may be held as arranged. In the meantime wharf shed accommodation is taxed to its utmost, and unless the wool is lifted soon growers will be compelled to hold their clips up country. Flax and other produce not requiring insulated space is equally affected by the freight shortage. TIMARU, January 1,. In reply to a deputation regarding the shipping shortage, Mr Massey stated that the Overseas Shipping Committee had arranged for steamers, but the Imperial Government had commandeered some of them to carry Australian wheat to England.