THE WOOL COMMANDEER

Dominion, Volume 12, Issue 299, 13 September 1919, Page 8

THE WOOL COMMANDEER

WILL MR. MASSEY INQUIRE? j Sir,—Fair-minded and intelligent peo- , pie will lie giad -Jr. Aiassi'y lias prom- , lsed to abolish the iniquitous butter 'tax ( lor the coining season,' and it is to be , hoped l\e will make good the exactions o{ tho past by his locum teneiis in tins , direction. . i The next matter the Prime Minister . will liavo to take in hand and rectiiy is ( tho much greater blunder in the cum- . maiulecr price ot our greasy wool, wliicli. is of importance to the JJominoin as a. whole, as it has depreciated the value ot our exports by 110 less u sum than seven or eight million pounds sterling per an-' Hum, every penny ot which will be neeued to meet tlie largely increased P-ite ot our imports'. , I'igures placed in Mr, Massey s hands by lesponsible oliicers and quoted by hiin in Parliament show cleany timt tins basic value was arrived at by .taiing i.ue average net price ol tue 2<H',831 bates ot all descriptions of greasy wool oi tne M 3-14 clip sold at our Dominion wool saies, which, according to his authority, netted b.ofd. per lb., out winch lor soiuo unexplained reason was increased to !).s(iil., at wlticn, latter ligure tlio com. manuee.- price was fixed. " .. If the average price ol the 1913-14 clip was to form a oasis tor the commandeer, it was apparently overlooked Mat the number. Oi bales quoted above by Air. ilassey represents only about one-halt ot the clip, tiiu other nalt' having been snipped to London for sale on uwners' account through tue various agency and bank channels, and at tlie pre-war .London' prices current about July, .. iJi-i,. would realise, under exactly similar conditions as to quality and description, about Is. 2d. >r.lu., or 11 dihcrence 01 aid. per io. 11, ore tnaii tlie moieiy sold within the Dominion. This may tie lanea as the wool speculator's profit on tho 1913-14 clip. It may ue' aiguiu a.i tue i»u moities realised, say, SJu. and Is. 2d. / per l ! b. net, tue average is ilju., viucn s.iuuiu constitute the commanded" price, instead ot 9.65 d., but it "is abundantly clear tutu when the Imperial Wool Commissioner sent .his cable ■ commandeering our wool at 45 per cent, over pre-war prices, lie had before him tho average' prices .at auction in London, whicn, as. 1 ha\o pointed'out; would net;: alter:payment ot ircigh't and other snipping and sale charges ajiout Is. 2d. per lb., and it so happens that the addod percentage ot 45 per cent, just about represents vlie increase in London prices between Jul J, 1914, the pre-war date, and November 01 December, 1910, wlicii tiio loiumandeor was established. . That this is tlie correct interpretation of the commissioner's oiler is established, tirstly, by his report to the Imperial Government that New Zealand wool, parchased at 55 per cent, over U.U, ad been obtained at n.jch under 1U >aluo, or words to that effect, and his subsequent voluntary oifer ot half pioht- on ail wool used for other Jian mill • J purposes to help to make gom payment. A second proot ot the.collectness of my contention is he com.nissioncr's willingness to vary the slipe wool contract and pay for the various qualities on tho basis of London _ P lMVil ' prices, less ljd. per lb. for freight and other shipping charges. . ' The fixing of tho basic price tor greasy wool 011 Dominion. pre-war prices, instead of London prices as in the case of slipe wool, has made Ihe former chargeable with post-war freight anil shipping charges of Gd. to 7d. per lb., instead of lid. per lb. 011 slipes, which largely reduces the moiety of proiit promised to shipners of greasy wool. I have 110 desire to alter contracts, noi We I any hankering after present current prices, .but if a mistake has-been made mid a lesser price accepted than that offered, it should be corrected, and I am convinced ii' an overture was mane I bv Mr. Massey on behalf of the owners i of greasy wool it would meet with the ■ sanio favourable consideration from the I commissioner . as bos been* extended to tho owners of slipe wool, the avein 0 e price per l'b. of which under the commandeer we luive never yet been able to WU Mr. Massey find out and tell us? -I am, etc., WQOL GROWER. :