WOOL MARKET.

Press, Volume LVI, Issue 16986, 8 November 1920, Page 6

WOOL MARKET.

DISPOSAL OF N.Z. PRODUCE,

panicky selling condemned,

Tho wool market and the disposal of New Zealand produce were discussed at Jencth by the Board of Agriculture at its "meeting last week. The tone of the discussion was of a. hopeful nature, and the need for caution and the avoidance of panicky selling, tending to depreciate the market, were strongly emphasised. Dr Reakes, chairman of tho committee set up to consider the whole question, said that it had been decided to draw up a report, so that growers would be able to grasp the whole situa-

The question of finance was discussed at length, and, after hearing the whole of the facts of the position, the board came to tJie conclusion that the opinion of the committee that the time was not immediately opportune for fir.mg any definite basis for advances was a sound one fecin2 that at the present time it. is impossible to form an opinion as to what will he the actual market selling values of the various classes of wool when the new clip comes forward far ,=a!e. The board noted with satisfaction that, stock and station agents, and it wa< understood banks also, would be willing as heretofore to make advances to thoir respective clients. up to such amounts as were reasonable under the circumstances, and. having regard {a tlr* fact that the Government was prepared to stand behind the producers, tho board fully coincided with the_ opinion of the committee. It seemed evident that woolcrowers would provide themselves a better future outlook if they withheld their wool from sale, in preference to selling it at once at low- figures, especiallv as there is ample storasre accommodation for wool in the Dominion. It was finallv agreed tbat the British (Government should be renuested to hold over for a« Ion" a reriod as possible all stocks of New coarse crossbred wool unt :l S'icb tinif ns t''e market was mor<» and further to to the i'-oolbrokers of tb-e Dominion (es"e-ia]V+} tn <-" ith t'-e r oarser jrra'Vs of wo<d') tbat they should wme to some agreement about, the minimum pvir-os which tbev would adv'se their client? to accept for their wool.