WOOL MARKET.

Taranaki Daily News, 28 August 1920, Page 8

WOOL MARKET.

UNFAVORABLE OUTLOOK. IMPERIAL AUTHORITIES ASK FOR ASSISTANCE. A large, number of woolgrowers, together with representatives of woolbrokers and freezing companies, was held on Wednesday, at the Dominion Farmers' Institute, Sir James Wilson, President of the Board of Agriculture, being in the chair. The meeting was called by the Board of Agriculture at the instance of the Prime Minister in order to consider important information regarding the wool position which had been received by the Government. The Prime Minister and Minister of Agriculture' attended the meeting, and Mr. Massey gave in full the information received from the Imperial Government regarding the stocks.of wool on hand, both in Great Britain, Australia, and New Zealand, and the comments of the Home authorities on the position. This showed that the unsold stock of New Zealand wools held in England in July on British Government account was 28,300 bales, while the total unsold stocks in July on British Government account of Australian and New Zealand wools amounted to 2,500,000 bales, market conditions at the time being unsatisfactory. Information was also given as to shipments of wool arranged for from New Zealand. This showed that only comparatively small quantities will be shipped during the next four months, and that in consequence, a considerable quantity of Government-owned wool (about 412,000 bales) will still remain in New Zealand when the new clip comes in. Special attention was drawn to the exceedingly severe clause intended to be added by the shipping companies to bills of lading* for private wool shipments. This clause read as follows: "Consignees undertake immediately on the arrival of the steamer within the port of discharge to be ready forthwith to receive their cargo as fast as the steamer can discharge it from the ship's tackles wherever she may be lying, and in the event of consignees failing from any cause whatsoever ,0 so take delivery, the shipowners are at liberty, at the merchant's risk and expense, . to discharge into craft or to land in any available storage place, notwithstanding that it may not bo the usual place for the discharge of such goods under cover, the same being at merchant's risk absolutely from the time of leaving the ship's tarkles, anything in this bill of lading to the contrary notwithstanding." It would appear that the object of this clause is to discourage consignments on private account while storage space in England is badly congested, as at present. In fact, the Director of Raw Materials in IJngland states that storage is practically unobtainable. A further important matter for discussion was an invitation from the Home Government for New Zealand to appoint two representatives to confer with, and to be associated with, the authorities in London in dealing with the market of accumulated wool stocks in r.he hand's of the Imperial Government. A discussion ensued characterised by an optimistic feeling as to the outlook, in spite of the undoubtedly serious difficulties which have had to be faced. 'flic conference finally decided that in i he matter of marketing the wool in the hands of the Home Government, and the appointment of New Zealand representatives to act in London in conference and in association with the authorities there, the High Commissioner should make a selection after conferring with Sir Thomas MeKenzie, Messrs. W. D. Hunt, Douglas McLean, B. Tripp, and other representative New Zealanders in London, whose assistance would be valuable. Matters at this end were left in the hands of the Advisory Committee to the Government, appointed by the Producers' Conference, held on May 27, two woolbrokers' representatives being added to it in order that the interests of the producers and of the Dominion as a whole might be assisted by the valuable commercial knowledge of these gentlemen whenever -wool matters were being dealt with. In addition, resolutions were carried to the following effect: — (1) That the Imperial Government be urged to provide 4»e utmost number of refrigerated ships to lift meat and other refrigerated produce, and that wool be shipped ii sullieient other general cargo lie not available. (2) Thanking the Prime Minister for his attendance, and for the information n-ivpii. and trusting that the Government will be able to assist the wool-growers who may have to hold over their next season's wool to finance upon it when in need of such assistance. (3) To request the Imperial Government to lend all possible assistance in enabling the woollen mills on the Continent of Urn-ope to increase their output, and at the same time ask whether there is any way in which the New Zealand Government can be of assistance in this. (•1) Strongly condemning the draft on wool, and requesting that further efforts be made to secure its abolition.