POSTPONED WOOL SALES

Dominion, Volume 15, Issue 55, 28 November 1921, Page 8

POSTPONED WOOL SALES

(To the Editor.) Sir,—Would you be good enough to allow me sufficient space in your valuable columns to refute some misleading statements that appeared in your issue of Saturday over the signature of “William Milne’*? , ’ M I do not know who Milne is, and am nof much concerned, but as far a.s I can gather lie is not known in tho wool trade, and his letter shows a very obvious lack of knowledge- of tho true 'position. It is only because the unguarded statements of some of these people who write io the Press do barm, I hat I take the trouble of noticing 'his letter at all. One can only assume that William Milne has an “axe to grind when he states that the London markets tre better than the New Zealand markets nine vears out of ten. It is a wellknown fact that this is not so Our wool is bought in New Zealand at London parity, and generally speaking, the position resolves itself into w’hether the owner or the buyer pays the chaigos to England. On the other hand, wool sold in New Zealand is bought by countries like Japan, America, France, and Germany, 'and is shipped to these desinations direct. Tt does not take the fertile brain of William Milne to realise that wool so- shipped to countries other than England, can ho bought at a higher price per lb. Allan wool snipped via London. Mr. Milne says that we are told that the wool buyers made about £1 per bale out of the nuar er million bales of last season s wool This mav or mav not lie the case. I take it that even William Milne does not work for nothing. However, it must be considered verv doubtful that his statement is correct. I know quite a numker of wool buyers who bought woo. ior speculative purposes during the lust year and who are now out of business, but. ’their woolj of course was sold on Pho Lomfon market. No doubt the .£4 per bale referred to by Mr. A line was m-ade by someone -at that end. I am, ete ” R. ANDERSON.

IMr. Milne, is well known in farming circles' in ihe south. Some years ago be was a director of the Bank of New Zealand.]