CORRESPONDENCE.

Wanganui Chronicle, Volume LXXXI, Issue 18791, 29 May 1923, Page 8

CORRESPONDENCE.

SUGGESTED WOOL POOL. (To the Editor). Sir, —IMy attention has been called to an article in the Mercantile Gazette of the 16th inst., in which the editors deals very trenchantly with the various suggestions lor the formation of a pool so as to safeguard both meat, wool and other products. To me it seems that so often farmers are led away by some new scheme to augment their returns, and do not ccnsidert he details lor themselves. Here we arc told the prime mover in the wool pool is a small farmer in the Pelorous Sound. He is owner ot 350 sheep, I producing some seven bales of wool, I and on his own estimate at least, he is an authority on wool matters. The writer of the article quotes from, a lecture delivered by Sir Arthur Goldfinch, the governing director' of 8.A.W.R.A., and formerly the Direc-tor-General of Raw Materials at the War Office, so that he is well able to express an opinion on the subject. He said with regard to State control: "I am bound to state, however, after giving this immensely important question my most anxious consideration and bringing to bear upon it all the powers of my mind, that when closely analysed their success in war time offers no encouragement whatever to the renewal of such ventures in peace-time. . . Could State control be so applied as to increase Ihe production of commodities’ Would it conduce to the fairer dis- [ tribution of commodities throughout the community? Would State control help us to avoid devastating disputes about rates of wages? Would State control do anything to prevent the horrible disturbance created by trade cycles, the succession of booms and slumps which hurt every class of the community, but arc most hurtful to the classes who depend for their bread upon continuous employment, and who through no fault of their own may find themselves entirely destitute for long periods of time?”

The statement is an impressive one. and we need to give it careful consideration before accepting, in any shape or form, any control board to deal with our wool. My own opinion is that we, as farmers, are apt to lose our heads a little, and follow too blindly the lead of our friend in the Pelorous Sound, without fully considering where it may lead to. Ere long we shall have the wool consuming world clamouring for our staple, and why should we allow any State interference with our commercial affairs, and bo pulled from “pillar to post” in order to enable some political end to be accomplished? I would strongly urge your farmer readers to get the article and read it for themselves. The Meat Board takes great mention to itself as being the cause of increased prices and lower charges, whereas it seems to me that the reduction in rates was about due, and the market conditions were answerable for the higher prices. Looked at from all points, we cannot get away from the fact that the “pool” means State control, and we have suffered already too much to be led into such a scheme again. Possibly some other farmers like minded with myself will take the matter up.—l am, etc., INTERESTED.

STOCK EXCHANGE.

AUCKLAND SHAREMARKET (By Telegraph) (Special to ‘‘Chronicle.’’) AUCKLAND, May 28.

QUOTATIONS. Sellers. Buyers. BANKS— £ s d. £ s d. Commercial Icon.) — 118 6 Commercial (pref.) 7 3 6 6 18 0 Australasia • • • • • • 13 15 0 13 10 0 National — 6 13 0 N.S. Wales —■ 40 10 0 New Zealand .. .. .. 3 3 0 3 2 9 _ __ 14 5 0 Union - •• •— 14 16 0 INSURANCE— New Zealand . • M 1 9 9 19 6 South British .. .. — 1 19 6 1 18 9 Standard .. .. — .. 2 0 0 1 IS 0 National .. — .. • • 3 19 6 — FINANCIAL— River Plate 12 6 12 0 Loan &. Mercantile .. 82 0 0 78 0 0 Ditto (prei.) -—- 76 0 0 Dal get y —- 12 10 0 Goldsborough Mort. .. —- 2 5 6 COALS— Westport Stockton • • 6 9 5 0 (Pref.) — 8 0 estport — 1 19 0 Hikurangi — 14 0 Ditto (Pref.) — 14 0 'laupiri .. 1 1 0 , ’ J Taupiri (pref.) .. .. ■—• 13 3 17 0 16 U Auck. Gas (pd.) .. .» 15 3 Auck. Gas (con.) — 16 0 Birkenhead 17 0 Gisborne .. •• •• 16 0 14 3 SHIPPING— Huddart, Parker .. .» 2 4 0 2 3 0 Northern Stm. (pd.) —— 14 6 Northern Stm. (con.) . 7 6 7 0 Devonport Ferry .. .. 17 9 16 3 P and O 345 0 0 320 0 0 Howard Smith 2 12 0 Union Stm. (pref.) .. —• 10 0 TIMBER— Bartholomew ...» — —— J00 Kauri Timber 19 9 18 6 L.O.B. Timber 1 15 (1 Parker, Lamb 17 0 15 9 WOOLLEN— Kaiapoi (con.) —. 12 3 11 4 Kaiapoi 1 4 <j Mosgiel .. .. ~ —■ 7 2 6 1 Wellington —• y o o Ditto (pref.) —— sou MISCELLANEOUS — Abraham, Williams . • 4 5 0 — Ditto, (pref.) 5 0 0 Associated Oil 12 0 Ditto (con.) 8 0 — Auck. Trams — 1 2 S Auck. Trams (pret.) . —. 19 0 Burns. Philp 116 6 1 14 0 Bycroft — 12 6 113 Col. Sugar (Aus.) 48 0 0 Dental and Medical .. 1 1 9 — Kompthorne, Prosser . •—• 3 2 0] Milne and Choyce .. —■ 1 3 6 Ditto, (pref.) — 1 3 61 (B. Pref.) — 1 o 6 i Ditto (Deb.) 1 4 6 N.Z. Drug 3 4 0 . Newton King 1* 3 j N.Z. Express 17 0 N.Z. Express (pref.) . 14 6 N.Z. Home Builders .. 13 6 12 0 2 * * n __ N.Z. Milk Products . 16 0 — N.Z. Paper Mills .. .. 16 3 15 3 8 0 Ditto, (con.) .. .. .. 3 6 — Refrigerating ■—• 15 3 Ditto (con.) 13 7 13 3 Sharland and Co 113 Wilson's Cement .. .. 16 6 16 3 Union Oil 1 12 6 1 11 0 MINING STOCKS Moanatairi (2d call) 3 4 — V» aihi 1 5 6 15 0 Grand Junction .. 7 lu New Waiotahi .. .. 1 0 10 Ki -.ing Sun (con. 1, -) 11 Muir's Reef 1 7 6 — Komata Reefs .. .. 3 — DEBENTURES - Auck. Gas, 1938, 5 p.c. — SS 0 01 Auck. Gas, 1928, 61 p.c —— A 103 0 0 Auck. liar. Bd., a **> p.c 0 0 Auck. liar. Bd., 6 p.c 05 10 0 D’tto 5} p.c 100 0 0 98 0 0 95 0 0 84 U U City Auck., 194 0, o p.c — 98 0 0 Ditto, 1943 . . .. . . 100 0 0 Ditto, 1937 99 0 0 Ditto, 1929 — 95 U 0 Alt. Eden .. . - - .04 10 0 Devonport Boro’ .. .. 105 10 0 — N.Z. War, 1930, V-f — 97 7 6 N.Z. War, 1938, 4J P-c 98 0 0 97 10 0 N.Z. War, 1939, 98 0 0 97 10 0 N.Z." ‘War, 1941, 4% p.C —— 97 0 0 N.Z. War, 1 927, 9S 0 0 Sol. Loan, 1933, 51 P.c 102 15 0 102 0 0 N.Z. Ins., 1927, 5 P.c • —— 98 0 0 N.Z. Ins., 1929, 97 5 0 N.Z. 11.9 2, 1933, 51 P.c —— 102 0 Q N.Z. Ins., 1988, o P-c 98 0 6 97 10 0 N.Z. Bonds 5J p.c. 98 0 0 97 7 6 Gisborne Sheep .. .. 102 0 ( 100 0 0 Wellington Gas .. .. — 105 0 0 Macky, Logan ., 101 5 0 Farmers’ U.T —— 94 0 0 Bycroft’s 98 0 ( — Far. Co.op (Cant.) 99 0 0 — Milne & Choyce — 100 0 0 Maxwell 103 0 101 0 0