WOOL REALISATION

Dominion, Volume 14, Issue 212, 2 June 1921, Page 6

WOOL REALISATION

PRODUCERS’ COMMITTEE MEETS

MR. MABIN’S RECOMMENDATIONS APPROVED

WOOL COMMITTEE TO BE CONSTITUTED

The wool realisation scheme was advanced another stage yesterday, when ’the Producers’ Committee met in Wellington to receive Mr. A. E. Alabin’s report. Air. G. L. Marshall was in the chair, and in addition to the members of the committee there were present tlie Minister of Agriculture (Hon. W. Nosworthy). Sir James Wilson (president of the Board of Agriculture), Mr. D. W. Duthie (chairman of the Associated Banks), Mr. J. AV. Collins (Secretary of the Board of Trade), and Mt. AV. D. Hunt (who with Air. Hamish Wilson represented New Zealand in London during the early stages of the wool negotiations).

Mt. Mabin’s report, which has already been published in Tub Dominion, was In tho hands of members of the committee. Mr. Mabin attended the meeting, aud gave some further explanation of the points raised in the report. He did not offer any promise of an early ending of the difficulty regarding wool realisation, but he indicated his belief that the scheme adopted by the BritishAustralian AVool Realisation Association for the fixation of minimum reserves and the limitation of offerings had a reasonable prospect of success. The committee discussed tho report and the wool situation generally It expressed general approval of the recommendations embodied’ in the report, and decided to ask the Minister of Agriculture io constitute a Wool Committee consisting of five members of the Producers’ Committee, with power to

(1) Regulate wool allocations for auction sales in Now Zealand. (2) Fix reasonable minimum reserves on New Zealand wool on a parity basis in New Zealand, Australia, and London. (3) Formulate a policy to deal with the carry-over 1 wool, with power to act. (4) Enter into such business and financial arrangements with the British-Australian Wool Realisation Association, banks, and other bodies as may be found necessary or desirable. The members of the AVool Committee will represent all the interests involved. The five names that are to be submitted to the Minister were mentioned at the meeting. . Tho next move will Iw for the Minister of Agriculture ho bring the proposal Wore Cabinet. He probably will have some further consultation wifh representatives of the Producers’ Committee before he puts the scheme in definite form for the consideration of Ministys. A Wool Committee of the kind suggested would have some official status, nnd special regulations might be required to give ilt power to work on tho lines indicated.