THE WOOL CRISIS.

Timaru Herald, Volume CXXV, Issue 18497, 19 February 1930, Page 9

THE WOOL CRISIS.

POSITION IN HAWKE'S BAY. STATEMENT BY BROKERS. By Telegraph—Press Association. NAPIER, February 18. A statement was obtained from some members of the Hawke’s Bay Woolbrokers’ Association to-night. The position at present is that the Wellington sale is to be held at 2 p.m. on Thursday, and further, that it is not through the action of brokers that larger catalogues are not being offered, but entirely due to the disposition of growers to defer the offering of their wool to a later, period, probably the March sales. There can be no question that if growers so wish they are entitled to use their own discretion. The Napier sale will be held on the date named, February 25, and what applies to the position in Wellington applies to the position in Napier—that certain growers, entirely on their own Initiative, have decided to postpone the sale of their wool until a later, date, the result being that neither catalogue is likely to meet the rquirements of 20,009 bales which the Woolbuyers’ Association insists shall be the minimum offering. The attitude of the brokers, both in Wellington and Hawke’s Bay, is that they are not prepared to bring any pressure to bear, or in any way coerce their clients, and they leave the matter entirely to their discretion as to the date on which they desire their wool offered.

It is stated that it is not long since the buying fraternity were particularly Imperative as to their desire that the catalogues be curtailed, and the selling season extended. The position now appears to be that buyers are desirous, of bringing to a quick termination the selling of wool. The availatoe dates of sales have already been fixed for March, and if the minimum quantity to be offered,is not less than 20,000 bales at Wellington, Napier, and Wanganui sales then the quantity to be offered at these centres at the March sales, considering the amount of wool already shipped, will be less than the minimum fixture of the woolbuyers. The wool that is being offered at the Wellington and Napier sales on the 20th and 25th is wool that is being offered for the purpose of genuine sale, and for the purpose of meeting the market. If reasonable prices are available, It would be easy to arrange possibly the offering of the minimum quantity required by the wool-buyers, but if this is done no doubt restrictions of the sale of certain wools would exist. The brokers do not desire to encourage growers, whose ideas of values would not be reached In the present market, to offer their wool in order to enable brokers to reach the minimum required by buyers who would bring about extra expenditure and result In the passing of large quantities of wool

NEGOTIATIONS FOR SETTLEMENT

By Telegraph—Pres. Aeeaclatlon CHRISTCHURCH, Feb. 18. The president of the New Zealand Woolbrokers’ Association stated to-day that negotiations had been opened between the brokers and buyers in regard to reduced catalogues at the remaining wool sales, and as a result, he hoped that a settlement would be reached.