THE WOOL MARKET.

Taranaki Daily News, 17 January 1921, Page 8

THE WOOL MARKET.

CHRISTCHURCH SALES. By Telegraph.—Press Association. Christchurch, Jan. 15. The last catalogue at the wool sales sold this morning. Bidding was rather slow. One lot of Rydal Downs Corriedale ewe A reached 17d. One lot of the same brand Corriedale hogget A was passed in at 16|d. Corricdale pieces of the same dip were passed in at 134 cl Southdown ewe hogget was passed in at lOfd. A choice line of three bales superior three-quarter bred (Stonylea) made 154 d the top price of the sale for three-quax ter bred. REPORT OF CONFERENCE. Wellington, Jan. 15. The official i;eport of yesterday’s conference between the Board of Agriculture and the Producers Committee states that a full statement was obtained from Mr. W D. Hunt, regarding the wool market.

The Prime Minister promised to obtain information from the Imperial authorities respecting the possibility of utilising the British-Australian Wool Realisation Association for the purpose of New Zealand’s carried-over wool, in the event of the Imperial authorities finding it necessary to make a change in the control of its wool stocks The meeting resolved: That, as the arrangements pending, which, if brought to fruition, will ensure that the market will not be demoralised by .(the sudden realisation of the surplus stocks, and result in the current clips obtaining first consideration, the conference is of opinion that, as soon as these arrangements are completed, confidence in the wool industry will be restored The conference therefore thinks there is no need for vendors to sacrifice their wools, but, as fairly satisfactory prices will be forthcoming for finer qualitt?s, it appears growers have nothing to gain by withholding them. THE AUSTRALIAN SCHEME. NORTH CANTTERBURY VIEW. Christchurch. Jan. 12. At a meeting .of sharchi Idcrs of the North Con terbury Freezing Co., Ltd., today, the chairman of directors, Mr. G. DGreenwood, said that for some time past the directors had been considering the question of acquiring shipping, so that producers would get the benefit of direct shipping. Something had been done in this direction, ami the directors had arranged that in a month’s time nr so a sailing ship would be available for the conveyance of the won] to London. This would obviate having to pay storage rates until the opening of the season in London, as the boat would fake about four months to complete the voyage. Storage on the ship would he ehafgctl for at the rate of Id per pound, and the commission charged would not bo more than IM- pm’ cent. It was expected that 75 per cent, of the wool value could be paid in cash to growers as soon as' the wool was shipped.

Mr. Greenwood proceeded to speak of the wool position in England. He said ho had had a conversation with Mr. Massey, who did not express himself as in favor of the Australian scheme, that those interested in the wool industry should buy the surplus requisition stock of about 2,800,00 bales from the Imperial Government, and dispose of the stock re-

quired by the markets, instead of the whole being “dumped out’ at once. But when told that there was something to be said in favor of this step, the Prime Minister* said ho was not tied down. He would ke&p an open mind, and give full consideration to any particulars bearing on the question of the surplus supply presented to him. Mr. Greenwood said lie had pointed out that New Zealand wooU were relatively cheaper than the Australian Merino, and that there must be a levelling in prices. However, an assurance had been given that the Dominion wool would not be “dumped” on the open market, thus allowing Bradford speculators to make a fortune. The cessation of the requisition was a “bit of a bombshell” to Dominion growers, as they had 2.500,000 bales stored in London" at- the time. Sometnmg would possibly be done to “nurse” the industry over the present position.