Page 16 Advertisements Column 1

Press, Volume LXI, Issue 18426, 6 July 1925, Page 16

AUCTIONS. H. LIAISON AND CO. jIJ"ESSRS H. MATSON & CO. present the scheme of control as submitted by Sir John Higgins in full details. 'SVo strongly recommend all Sheep Owners to retain this and keep it, and we hope when your wool is for salo that it will be entrusted to H. MATSON & CO., who liave been to considerable expense in publishing these various Articles, and all this information for the benefit of the Wool Grower of Canterbury. AVe are sending a Representative to Australia so as to be present at the Openinc Sales on the July, and generally to watch the markets. "WOOLMARKETING. SCHEME FOR CONTROL. MODIFICATION OF BATVRA. The meeting- arranged by the Graziers' Federal Council to hear proposals for the stabilisation of the wool market "was held recently. It was attended by represent--tires of the Graziers' Federal Council, Australian Woolgrowers' Council, Pastoral istss' Association' of Victoria, Pastoralists' T nion of Southern Riverina. National Council of "Woolselling Growers, Victorian Chamber _ of Agriculture and the Victorian Farmers' t/ninn. and representatives of New Zealand growers. Mr A. H. Whittinglinm, president o£ tin; Graziers' Federal Council, was chairman. •Sir John Higgins in outlining his scheme said there were four factors which be affirmed, otherwise it would, in his opinion, he useless to proceed further. These questions were: 1. Are the woolgrnwers—or a hii majority of them —and others prepared to nw together, form an association, and t work wholeheartedly in support of a stabilisation scheme for the betterment- of the industry? L'. Are those some interests prepared, with one voice, to approach the Federal Government in support of (a) a financial puaran lee, and (b) that the association, if formed, ho given special authority to issue wool export licenses? . 3. It (1) and (2) are answered in th* affirmative, and assuming that the Federal Government agrees to give the necessary guarantee and grant the special authority for the issue of -wool export licenses, are woolgrowers prepared to support the recommendation thfit a representative he appointed t» visit London and open negotiations regarding finance? . , 4. Are the woolgrowcrs prepared I" authorise the initiation of negotiations with the woolselling brokers for the appraisament. of wool, including the conduct of the various operations of -weighing, displaying, appraising, storing, etc.. in Ihe collective realisation of Australian wool clips? He outlined his scheme as follows: — 1. That the woolgrowera of the Commonwealth shall voluntarily form an association, mutual in character, for the purpose of giving, as far as practicable, greater regularity and greater stability to wool values. 2. That such association shall acquire Australia wool clips by appraisement methods. 3 That the realisation of wool clips so acquired shall be effected under the direction of the association by proper, technical and collective methods of marketing. 4. That all receipts from whatever source arising, less deductions and expenses, shall be credited by the Association, and distributed as payment for wool so acquired by appraisement. ' The association would not be for the purpose of profit or gain in the ordinVALUATIONS —If you require a valuation of Livo and Dead Stock, or valuation for Probate at any time. H. MATSON & CO. can be relied upon In this direction. ■ary acceptation of those terms, but would •be created practically as an assurance .organisation, . niutual in character, for the •regulation or stabilisation in values of wool —not fixation of prices—by collective realisation, thus ensuring greater protection t< producers, and assisting generally the development of the wool ' industry in the Commonwealth. . . ' Suggested name of company—British Australasian Wool Regulation and Realisation Association, Limited, or British Empire Wool i Regulation and Realisation Association • Capital—£so,ooo,ooo, in £25,000,000 wool certificates and £25,000,000 shares of £1 '*The pj\ncipal terras and conditions for the (proposed ft.Vstem under which the Association would operate may be set out briefly as under:— , .... 1. That freedom of trade m wool .within the * GommonwiaJth shall be recognised. o Th ß t in pvdfr to finance the scheme at Its"initiation, the Commonwealth Government shall / guarantee fh& Association until sufficient capital has been subscribed by its lne ™^[ l s al j. the Association shall be rested ,wiih authority by the Federal Government to issue licenses for the ey.port of all wool from the Commonwealth, whether as (a) Shorn wools, greasy or scdinred; (b) skin .wools, greasy or. scoured; M _ wool tops, nofls, waste; (d) woolly sheepskins. 4. That the tables of limit® for appraisement by the Association shall fee based upon the statistical position of wool, including .inter alia, the following "world . factors.— 'Production (quantities and qualities), consumption, stocks (manufactured and semi"manufactured), purchasing power, fashions, etc., for each- wool year. _ : 5 ' That, having determined the statistical •value (which- will be an estimate only), less V deduction to cover contingencies, taWes of 'limits shall be prepared for—(ri) Merino wools, shorn, -including fine comebacks; (b) crossbred woolsj shorn; (c) skin wool—>(1) merino. (2) crossbred. . fi. That, should it be fonnd advisable to further subdivide these principal classes, such subdivision shall he mado. 7. That the tables of limits are bases on V y —First, for the appraisement, and 'secondly, for the acquisition by the association of the. wool clips. The real price shall be determined by the Association on the actual disposal of the wool for each year. 8. That the wool shall be appraised undor the direction of the Association, and on • , appraisement shall become the property of the Association. ' , , _ , 9. That the settlement for Wool shall be on- the following basis: —BHrst payment, 14 days after appraisement; second payment, at close of wool year; third payment (final, less deduction* and expenses), when the whole of the clip for the particular vrool year has been sold. . . ' 10. That, as woolgrowers are not in the position to subscribe the large amount of capital * necessary for the proposed Association, a de- ; duction of 2| per cent, annually on account of wool certificates, and a deduction of 2i per -cent.- annually on account of paid-up ! shares, shall be made as a suggested method ' for building up the capital of the Association ' by' instalments over a series of years, and ' as a means for creating an equalisation fund for the stablination of limits. ' 11. That the issue of wool certificates shall be made annually, equivalent to a deduction of 2J per cent, of tho iiet value # otf the ' clip, and shall be apportioned in ratio to the . value of wool supplied by each individual producer during each wool year. ' 12 That wool certificates shall be interest- ■ bearing at a rate comparable w*th such like investments, and shall be negotiable, but shall carry no voting powers. 13. That shares shall be issued annually, equivalent to 2J per cent, deduction on the net value of the clip, and shall be apportioned in ratio to the value of wool supplied by each individual producer during each wool 76 1*. Th«t shares shall be after a certain number of years (the date shall be fixed later). The rate of dividend also shall be determined later, but shall not exceed, say, 7. per cent, per annum. INSURANCES. —H. MATSON AND CO. represent the ROYAL INSURANCE COMPANY, and will be glad to get your favours in this direction. Why not! 15. That shares shall not be negotiable and/or transferable except to members of tho Association or bona fide producers of wool. Memorandum and articles of association shall provide that directors shall have the power to refuse-the transfer of shares if they deem fit and in the interest of the Association. 16. That the amount represented 111 wool *- certificates and in shares shall reduce annually SB equivalent amount of the Government's guarantee, and thus in time free the ; Association of all obligations to the CommonI wealth Government respecting such guarantee. \ -In amplifying his proposals, Sir John Higgins said: — . "This fact must bo emphasised, that the issue of wool certificates and shares represents a 5 per cent, deduction, the former ' should become, from the date of issue, a sound investment, and be as readily negotiable as ordinary debentures; the latter —shares — should carry regular dividends as soon as the : capital «f the Association and the equalisation ~ fund were sufficient to release the Association ; of all obligations to the Government for its guarantee. ... , . , ;.by< "The Association will be a mutual or co'\\feperative company. Therefore, all income ,'Sever and above deductions for capital, working expenses, interest, and an equalisation - fund as provision for stabilisation of limits, shall ba returned to woolgrowers. In other ■ words,-the deduction of 5 per cent, may be ■ looked/upon as an assurance premium—first, towards, the stabilisation of wool,, and seccontribution to the capital of tho should become a sound inWiwoolgTOwers. The negotiability , ta«^vr»«l'tertificatea should, in practice, .j i'? deduction to 2J per cent. The i restricted . non-negotiability of the shares j s _._ ■to growers' inter- ■ P'the control of the organIthin I " ads o£ persona ol, ' er warehouse for approved iandi would mod us operwm! wonld "ba and ekmiL^i. 4 ' Pto lo ? s and examination- lo s s for appt«he^- (3 < )^ a,npla praised- By throe approved date, after