WOOL LICENSES

Gisborne Herald, Volume LXVI, Issue 20128, 23 December 1939, Page 8

WOOL LICENSES

BUYING BY DEALERS CONDITIONS IMPOSED APPRAISAL SCHEME MINISTER’S COMMENT (Per Press Association.) WELLINGTON, this day. “In the terms of the exemptions from the wool emergency regulations as gazetted on December 15, licenses to buy wool have been granted to a number of wool dealers by the primary industries controller,’’ said the Minister of Agriculture, the Hon. W. Lee Martin, last evening.

“Under these licenses dealers are authorised to buy direct from the producers if the producers consider it advisable to sell in this manner rather than submit their wool for appraisal at the brokers’ stores in the usual way,” said the Minister. “Any wool bought by licensed wool dealers must, after the necessary preparation by such dealer, be submitted for appraisal on the dealer's account through the wool store of a recognised wool-brok-ing firm. “Farmers must understand that, on selling wool to a licensed dealer, the farmer gives up all his interest in the wool and, therefore, cannot participate in any distribution of money from the suspense account which may be derived either from the 5 per cent held back from the wool payments, or from New Zealand’s share in the profits gained from wool resold to other countries by the United Kingdom Government.”