PROPOSED WOOL BOARD

Sun (Auckland), Volume III, Issue 849, 18 December 1929, Page 12

PROPOSED WOOL BOARD

DEPUTATION TO MINISTER CONFERENCE TO BE HELD (From Our Resident Reporter) WELLINGTON, Tuesday. The preliminary proposals for the establishment of a board to control and regulate the marketing of wool were placed before the Government today by a committee of the New Zealand Farmers’ Union. While admitting that co-operation was in the interests of the primary producers, the Acting-Prime Minister, the Minister of Lands, Hon. G. W. Forbes, stated that there would have to be a certain amount of unanimity among those interested before any legislation was placed on the Statute Book. He said' he would be only too pleased to attend a conference of the various parties which is to be held early in the New Year. Mr. W. J. Poison, M.P., president of the union, said it was contended that there should be some system of orderly marketing which would enable the sheep farmer to receive the best prices. It was thought that a wool board with a reasonable franchise would be able to do much for the producers, who were faced with falling prices. The deputation asked that the necessary facilities should be accorded for the introduction of legislation on the subject early next session. The producers were helpless at present. Mr. F. S. Bowen (Gisborne) said the financial houses were limiting the buyers to a certain maximum price. The fall of prices in September of this year was largely due to financial houses forcing the resale of all purchased wool on hand at that date. This reacted on the present clip. The grouping of small clips, a.nd private selling of prepared lines between sales, should be encouraged. Sales should be extended to about 10 months, which was now being adopted in Australia. Extending the sales a full nine or ten months would mean that buyers need only lean upon the English and Continental banking houses for about £1,5000,000 to £1,750,000 a month for the New Zealand clip, said Mr. Bowen. If this was extended by co-ordination with Australian and South African woolgrowers, it must rebound to the growers’ credit to the extent of several pence a pound. Mr. Forbes, in reply, said he knew it was the price that producers received for their lamb that brought the Meat Board into existence. When the drop in the price of wool took place he had no doubt that a good deal would be heard about marketing. Anything in the nature of compulsion would, of course, require legislation. A n miber of preliminary steps had to be taken before that stage was reached. The deputation could rest assured that there ivould he no compulsion unless there was a certain amount of unanimity among the growers. THE POTATO MARKET POSITION IN CANTERBURY Press Association CHRISTCHURCH, Tuesday. This period of the year is usually one in which the grain and produce market remains in the doldrums, and this year is no exception. There is nothing moving and there will not be until the new season’s crops commence coming to hand. The market at present is firm with inquiry very weak for all classes. Forward buying of potatoes has increased during the last few days, farmers showing more willingness to sell since the recent rains. As a result prices have eased slightly and the latest quotations are £3 15s a ton on trucks for whites, and £3 17s 6d a ton for Dakotas. Growers take a more optimistic attitude concerning the prospects for this season’s potatoes. The .showery conditions which have ruled over the past few weeks are reported to have given the crops a big impetus. The seed market is at a standstill temporarily. LONDON METAL MARKETS United P.A.—By Telegraph—Copyright LONDON, Tuesday. (Quotations on Dec. 12 in parentheses.) Copper.—Spot, £69 2s 6d'(£6B 16s 10£d); three months, £67 18s Dd (£6B Gs 10£d). Electrolytic Copper.—Spot, £B2 10s (£82); three months, £S4 (£B4). Wire Bars.—Spot, £B4 (£B4) . Lead.—Spot, £2l 7s 6d (£2l 6s 3d).; three months, £2l 10s (£2l 10s). Spelter.—Spot, £2O 10s (£20); three months, £2O 13s 9d (£2O 11s 3d). Tin.—Spot, - £lB9 2s 6d (£179 6s 3d); three months, £192 7s 6d (£lB2 Is 3d). Silver.—Standard, 22 9-16 d (22 9-16 cf an oz.; fine, 25 5-16 d (24 5-16 d).