ON WHAT BASIS?

Gisborne Herald, Volume LXVI, Issue 20087, 6 November 1939, Page 6

ON WHAT BASIS?

WOOL APPRAISEMENT MERIT OR MARKET RATE EFFECT ON AVERAGE EXPERIENCE LAST WAR An interesting point which affects the ultimate realisations of individual clips was discussed at a meeting of woolgrowers in Ruatoria on Saturday afternoon. When reporting that the average price of 12.jd per lb. would be for the wool delivered in store, Mr. F. H. G. Galvin, of the Gisborne Sheepfarmers’ Frozen Meat and Mercantile Company, Limited, stated that some doubt existed regarding the basis of payment for the various grades. He recounted the experience in the 1916-20 commandeer.

When a schedule for the payment of wool in the 1916-20 period was required, it was prepared and approved in less than 24 hours, and a few hours after the buyers were proceeding to Hawke’s Bay to make the first valuation. That schedule was the one which, with little variation, was followed until the end of the commandeer. The schedule varied a great deal, ranging from nearly 2s per lb. for the fine South Island fleece down to Od and 7d per lb. for locks in the North Island.

He understood the 12fd. average would not be paid to any farmer individually, but on a New Zealand average as a whole. In 1918, 552,000 bales were valued. The average price agreed on then was 14.96 d per lb., and in the final realisation the wool averaged 14.94 d, a tribute to the work of the valuers. Fine South Island Wools He did not know whether the wool to-day would be paid for on the intrinsic value or on the recent market basis. If on intrinsic or merit of wool value, the fine wool of the South [sland would receive more than their recent market worth. East Coast growers could expect an average of about 121 d per lb., if based on the recent market value, but if on the merit of the wool the South Island would probably average a little more than 12{d and the North Island slightly less. Mr. Galvin stated that so far no instructions had been received from the Government regarding the requirements for the appraisement arrangements. However, farmers need not make any private arrangements for scouring, for during 1916-20 all wool was sent in to the stores in a greasy condition, and he expected that the same arrangement would apply this time. Any scouring required was done at the scouring works under instructions from the Government. Excellent Tokomaru Shed During the last commandeer, Mr. Walter Hill, chief valuer for New Zealand, had stated that the light in the Tokomaru Bay Harbour Board’s shed was excellent. The store had been built for appraisement purposes, and good light was essential to satisfactory appraisement. In equipment, also, it was satisfactory, and a number of stores in some other parts of the Dominion were not as well equipped. A portion of the freezing works in Tokomaru Bay was being prepared at present.

Questions were asked regarding wool for reclassing. Mr. Galvin replied that he did not think it would be possible to do any reclassing at Tokomaru Bay until towards the end of the season, when the store would be free of large quantities of wool. The store would be required for display for appraisement purposes for the greater part of the season, and there would be no room for reclassing. A grower who required reclassification urgently would have to send that type of wool to one of the larger centres.