WOOL CLIP

Timaru Herald, Volume CXLVII, Issue 21504, 17 November 1939, Page 6

WOOL CLIP

No Undue Delay In Valuing Start To Be Made To-morrow By Telegraph—Press Association WELLINGTON. November 16 Denial that there was any undue delay in commencing the appraisement of wool, as implied In a Press Association message from Auckland yesterday, was expressed by the Minister of Agriculture (Hon. W. Lee Martin) to-day. The Minister said that the announcement made from Daventry some time ago that agreement had been reached with the New Zealand Government for the purchase of New Zealand wool at an overall f.o.b. price of 9.8 d or approximately 12.25 d NewZealand currency was premature, as at that time negotiations were still being carried on to determine who should pay certain charges in NewZealand. A cable finalising the matter was received only on November 4. The Wool Buyers’ Association, who would be carrying out the appraisement, were notified immediately, and they had since been working continuously to get out schedules of the types and prices. This work could not be commenced until the purchase price had been decided. Arrangements had been made for appraisals to be carried out as soon as the schedules were ready. The first appraisal would be made at Auckland, starting on Saturday. November 18.

“As no sale was ever held In Auckland before November 20 or in Napier before the beginning of December, there is no reason why wool coming into stores should be causing embarrassment to woolbrokers, who have always had to handle equal or even greater quantities to be ready for a sale at dates later than those oil which appraisals will be made.” said Mr Lee Martin.