Wartime Stocks Of World's Wool Are Almost Gone

Bay of Plenty Beacon, Volume 14, Issue 42, 23 September 1949, Page 6

Wartime Stocks Of World's Wool Are Almost Gone

“Remarkable evidence of the demand from a wool-hungry world” was how Mr G. A. Duncan, Chairman of the New Zealand Wool Disposal Commission, described to theElectoral College of the New Zealand Wool Board recently, the achievement of the Joint Organisation in selling 9A millions bales of wool—a wartime surplus—while the market also absorbed current clips each season. Mr Duncan said it would be recalled that when the Joint Organisation was established in 1945 it was estimated that it might take from 12 to 13 years to dispose of the accumulated wartime stocks of wool alongside Growers’ current clips. Sale of these stocks had pros ceeded at such a rate that when next year the plan was reviewed, the Director of J.O. would probably be able to .inform the partner Governments, United Kingdom, Australia, South Africa and New Zealand, that J.O.’s work was finished and that the reserve price system could, therefore, be terminated. The small remaining balance of stock could then be liquidated either by J.O. as an'ordinary seller of wool or, assuming that there was to be a Post-J.O. Marketing Scheme, the present J.O. organisation could sell the remaining stock to the new body or entrust it with disposal of this stock on behalf of the original partner Governments.