WOOL PURCHASE

New Zealand Times, Volume XLIV, Issue 10284, 20 May 1919, Page 4

WOOL PURCHASE

UNITED STATES CANCELS OUJiTRACT WITH N.Z. Press Association^. ~-,. .. ~ .... CHRISTdHURdHir.I![ay-)l?.,' : -r •'. Mr W.' JL. Carney, general' manage-*" , of Armour and Co., of Australasia, im received a cable message stating that the contract for the balance of th« American purchase of wool from Aus* tralasia has been cancelled. The United States Government last year contracted to purchase 300,000 bales of wool from Australasia. Of that quantity . 100,000 bales were, .to come from Mew . ~ Zealand. Already 30 ? $i6 bales, have,,,. > been sent, and tfifT contract :f6r" the ' ' • balance (63 684 bales) has been cancelled. "When the Armistice was signed, the United States Government had many contracts with tbe Imperial Government, and the latter has many ontracts with the United States. Five representatives of each country have met in conference, and have agreed to cancel the contracts on both sides. The Australasian wool contract evidently is- rr one of those cancelled'-by; ■,;,-. , States. -..-■*•■"■■■.-■■.••:- The cancellation will not cause any difficulty in disposing of New Zealand wool, as the balance will go to England instead of the United States.