WOOL WANTED.

Taihape Daily Times, Volume 8, Issue 10, 13 January 1916, Page 8

WOOL WANTED.

FOR IMPERIAL PURPOSES,

PROBABLE EFFECT OF EMBARGO,

In the absence of information from the Imperial authorities, the Minister of Munitions (the Hon. A. M. Myers) was unable to say whether the export of wool from England to the United States of America would be permitted. For some time past the American buyers operating in New Zealand have anticipated the embargo. During the last sales in London 4,000 bales were bought for America and 11,000 for the Continent. The embargo enforced last year came into effocr. in New Zealand earlier than it did in England or Australia, and it was maintained after permission to export the United States had been given In those countries.

If the American buyers are excluded from participating in the New Zealand wool sales, it is felt in some quarters that the prices secured by Dominion producers will not be so good as in .the case of open competition. On the other hand, an opinion is held that, the keen demand for wool which exists in England should enable Bradford buyers to keep prices at their present level. It is estimated that fully 40,000 bales have been purchased already this season by American buyers, and it is,, therefore,, probable that they-have secured most of the wool that they \va-nted, before the prohibition took effect.

Not only does the prohibition against the export of wool apply to neutral countries, but also to the countries of the Allied nations. This fact was also made clear by the Minted for Munitions.' With regard to the ability of England and New Zealand buyers to take the balance of the Dominion’s output, it is pointed out that over and above locall requirements, theNew Zealand mills have to purchase about 12.300 bales for military contracts. Brokers accordingly believe that notwithstanding the probable withdrawal of American buyers, p-<ces will remain firm.