WOOL AUCTIONS THIS YEAR

Press, Volume LXXXII, Issue 24910, 25 June 1946, Page 4

WOOL AUCTIONS THIS YEAR

PRESENT PRICES TO BE MAINTAINED

DISPOSAL COMPANY’S POLICY

(P.A.) WELLINGTON. June 24. United Kingdom-Dominion Wool Disposals, Ltd., which has been entrusted by the Governments of the United Kingdom. Australia, New Zealand, and South Africa with the double task of effecting the orderly disposal of the accumulated war-time surpluses of wool and maintaining an appropriate degree of stability of prices, has issued the following statement after a meeting of directors in London: — “The company will attempt to achieve the first objective by offering at auction its stocks of wool alongside current clips in accordance with supply and demand in the world’s markets, and the second objective by the regulation of offerings and by means of reserve prices at which it will be prepared to buy in growers’ wool at auction. It will at all times endeavour to act impartially towards the interests of the various parties affected or likely to be affected by its decisions. Initial'Price Levels “The company states: “(a) The Governments of the United Kingdom a Australia, New Zealand, and South Africa have considered recommendations made by the joint organisation pursuant to the terms of paragraph 6 of the wool disposals plan, and have- decided that the initial general level of reserve prices for Dominion wools sold in the Dominions shall be the same as the present average selling price ex store in the Dominion concerned. It is intended that this level shall, in the absence of circumstances at present unforeseen, be maintained throughout the wool year 194647. . •‘(b) Individual reserve prices for the wool year 1946-47, apart from exceptional cases, will not be changed throughout the year. “(c) The sale of wool at fixed prices by or on behalf of the joint organisation will cease on June 30, 1946. “ (d) Orders against which an allocation of wool has not been made on or before June 30. 1946. will be cancelled. “(e) Sales by auction will commence in Australia and South Africa at the beginning of September. New Zealand crutchings and old wool at the beginning of September, new wool in November. and in the United Kingdom in September, the precise dates to be announced later. “(f) Details, in broad technical descriptions. of the stock estimated to be held by the organisation at June 30. 1946. will be announced as soon as possible.”