WOOL MARKET.

Taranaki Daily News, 2 June 1921, Page 5

WOOL MARKET.

CONTROL OF FUTURE SALES. COMMITTEE TO BE APPOINTED. By Telegraph.—Press Association. Wellington, Last Night. The producers’ standing committee met to-day, Mr. G. L. Marshall presiding. There were also present: The Minister of Agriculture (the Hon. W. Nosworthy), Sir James Wilson, Mr. W. D. Hunt (who, with Mr. Hamish Wilson, will report on the wool position in London), Mr. D. W. Duthie (chairman of the Associated Banks) and Mr. J. W. Collins (secretary of the Department of Industries and Commerce).

Mr. A. E; Mabin made some supplementary remarks in his report on the wool position as it appeared after his investigations in Melbourne and his conference with the Australian directors there of the B.A.W.R.A. The committee resolved to recommend the Minister of Agriculture to constitute a wool committee, consisting of five members of the producers’ committee, with power to: (a) Regulate wool allocations for auction sales in New Zealand; (b) fix reasonable reserves on New Zealand wool on a parity basis in New Zealand and Australia and London; (c) formulate a policy to deal with carry-over wool, with power to act; (d) enter into such business and financial arrangements with the British-Aus-tralian Wool Realisation Association or other bodies as many be found necessary or desirable.

Asked subsequently if he had any announcement to make respecting the Government’s intentions, the Minister of Agriculture said a decision had not yet been reached by him, but in any case it must go before Cabinet.