WOOL DISPOSAL.

Taranaki Daily News, 1 December 1920, Page 5

WOOL DISPOSAL.

A MARKET IN GERMANY, | ENQUIRIES TO BE MADE. ! GOVERNMENT AID SOUGHT. By Telegraph.—Preßs Association, Wellington, Last Night. At a meeting of the Dominion executive of I,he Farmers' Union to-day, Mr. W. J. Poison (Wanganu'i) suggested that the Government should be asked to inquire whether some of the Dominion's coarse woo] could not be sold on credit in Germany. Mr. Poison said that Britain was now trading with Germans, and it would be in New Zealand's interest to let" German mills get some of the accumulated crossbred wool. The Germans had mills and were in great need of materials that could be manufactured from coarse wools, but tliey were unable to pay cash for raw material. He moved: "That the Government be aaked to prosecute inquiries as to whether it is possible for New Zealand to sell wool to Germany through the Imperial Government, New Zealand growers assuming the responsibility and accepting approved bonds in whole or in part payment,"

Mr. T. Moss (Dominion vice-president) said the Government had advised farmers to hold their wool, but many of them could not do that without assistance, and he thought the Government should be urged to produce a definite scheme of finance. Pie suggested that the executive should ask the Government to guarantee advances on wool up to GO per cent, of the commandeer value of wool. Mr. Poison-. "It would be absurd to ask that." The Government, he waß sure, would not make advances on any other basis than the London j'lrity, which was 4d or 3d per lb for coarse wool.

After discussion, Mr. W. B. Matheson moved an amended motion in the following form: "That the Government be asked to inquire whether European woollen mills are willing to take a proportion of our crossbred wool at a price equal to 75 per cent, of the commandeer price, payment to be made six months from date of sale and guaranteed by banks of standing." This was seconded by Sir. Poison, who withdrew his own proposal, and carried.

The executive discussed the question of a Government guarantee of advances on wool, and adapted the following motion: "That in view of the necessity for a definite scheme of finance to enable the small producers and soldier settles to hold their wool, as recommended bv the Government, this executive recommends the Government to advance 95 per cent, of the London parity value of such wool, such advances to be made by financial institutions on the Government's guarantee."