The Hastings Standard Published Daily WEDNESDAY, JULY 28, 1897. WOOL FREIGHTS.

Hastings Standard, Issue 384, 28 July 1897, Page 2

The Hastings Standard Published Daily WEDNESDAY, JULY 28, 1897. WOOL FREIGHTS.

For the cause that lacks assistance, For the wrongs that need resistance, For the future in the distance, And the good that we can do.

The "Wool Freights Committee, headed by Mr W. C. Buchanan, of the Wairarapa, has succeeded in arranging for decidedly cheap freight rates for wool. An agreement has been entered into with Messrs J. H. Stanley and Co., of Dunedin, to provide sufficient tonnage to carry from 20,000 to 100,000 bales of wool at the following rates : Sailing vessel—Greasy, 5-1 Gd nett; scoured, 7-16 d nett, from all ordinary loading ports. Steamer—Greasy, £d and 5 par cent, primage ; scoured, £d and 5 per cent, primage, loading at Napier or Wellington only. According to the circular sent out by the Wool Committee to the guarantors the reduction by sailing vessel is equivalent to 20 per cent, on the rates now ruling. The saving by steamers is equal to about 8s per -4001b of wool. On the face of it the committee is to be congratulated on what has been accomplished ; but it may ba asked is this new arrangement an unmixed blessing. It would be foolish to suppose that steamers and sailers will carry wool at the extremely low rates arranged and be content with full cargoes for half a voyage. In other words, is it likely that the tonnage required will be brought from American and English ports empty for the mere pleasure of carrying New Ziealand wool at rates -which are admittedly low ? It may be so, but we doubt it. We j hear from a private source that some of the vessels from American ports I that are likely to engage in this new | contract and thai; have already arrived i have brought cargoes of American produce, such for instance as I wheat, to the detriment of the j wheat - growers. It is stated that ! some of the Auckland flour-mills said

to be owned by the Bank of New Zealand Estates Company are now grinding Yankee wheat, and presumably this has found sale here by reason of its cheapness—that is to say, it undersells the locally grown wheat. And so we shall find with the vessels coming from other ports. Probably the vessels arriving from England will bring coal if general cargo is not available. It is quite apparent that the contractors under the wool freights agreement can see their way clear to making considerable savings in the running of steamers and sailing vessels, and possibly as regards the former Cardiff coal is to play a prominent part. We by no means disclaim against the importation of wheat; if the price of local wheat is excessive then by all means let us have cheap imported 'wheat —cheap bread is essential, but in a country where protection is the Baal of the people, then it can be said that the wool freight reductions are being.secured at the cost not of the shipowners but of the wheat growers and coal owners of the colony. We are, however, merely speculating upon what is likely to be the explanation of the cheap freights, and we shall see very soou how the reductions are worked. In the meantime the wool exporters who have signed the guarantee have secured a great advantage.