Wellington Auction To-day

Chronicle (Levin), 18 September 1946, Page 6

Wellington Auction To-day

-Press Asseciation

FIRST SINCE BEF0RE WAR

By Telegraph-

WELLINGTON, Sept. 17. After a lapse oi- seven years wool auctions will be resumed in New Zealaud with ihe Wellington erutchings saie tomorrow. Normally this sale has no special significanee, but iu view oi' the rehistatement of the auction system tomorrow 's fixture is of more than usual interest. The catalogues will total 10,134 Lales, of whicli 0734 will be crutchings and 3400 stock wools, comprising greasy, scoured, and slipe wools. Under the new inethod of selling minimum prices lixed by the WTool Disposal Commission will operate, and wool that fails to reacli this uudisclosed minimum, will be [iiirchased by the commission at its val uation. The linal bidder in the open market is given the option of taking the wool at the reserve price, failing wliicli the commission exercises its riglit. Growers, as in pre-war days, will have the riglit to (ix their own reserve price and withdraw tlieir wool if it does not reacli that price. Any wool so withdraw u may be re-ofL'ered, but will be regarded as new wool and will liave to wait its turn. The over-all reserve price for 194(5-47 is 13.40d. per lb. sterling, or 1(5. 74u per lb. New Zealaud. To meet the expenses of the commission a 71 per cent. Jevy is pavable by growers. H is antieipated that with Ihe exception bf a few types of wool, all sheepfarmerH will receive a net price, after the payment of commission and levv, or not icss than that received for tlieir 1945-40 wool. Tlie price given above ropresents an over-all increa.se of .S7d a lb., or about 0 per cent. Representatives of the comntission nmdh their appraisals in tlie local stores yesterday, and left the field clear ■or buvers today. Tomorrow 's sale starts at 2 p.m., and provision has been made for a full nench of buvers.