Thank you for correcting the text in this article. Your corrections improve Papers Past searches for everyone. See the latest corrections.

This article contains searchable text which was automatically generated and may contain errors. Join the community and correct any errors you spot to help us improve Papers Past.

Article image
Article image
Article image
Article image
Article image
Article image

WOOL PURCHASE

R. MASSEY SURVEYS POSITION: Iribution OP THE WOOL j THE SURPLUS PROFITS Iwerinj*- a question ,put by Mr. 35. ji&n (Sangitikei)'-in-the House of: isentativjs yesterday, the Prime iter made a comprehensive , stftter regarding the purchase of-wool by 'iiiperinl 'Government. He indicated (the negotiations * tor 'tho extension p, purchase scheme to cover a period, i the'war had been, practically com-

iie . purchase of ■ the New /Zealand iclip of 1916-17 by the .Imperial Gov; 'ent approved by. the Woolgrowers jireiice of November' 22;1916, ■ was ie .basis of the average price realised ach quality/of > wool • for. the • season tV phis' 55:'-per„ cent, thereon, said Jfassev. "In addition thereto half profits' on' 'the 1 sale of 'all surplus !not required by the Imperial Govlent'or.'our Allies', for military purI would be returned to New. Zealand, if, oh the other'hand, there was any (such lossVwould be borne by the irial Government. ...- . ; schedule •of average sale-room •s of the main sorts of New. Zealand iy wool in. January, 1911,., was ap-. id by'the, conference as representing' 'average 1913-11 values,' .'and.: subse'tly agreed to by the'lmperial Govr lent. In addition, the Imperial" i-nment agreed to pay for the wool ash free of exchange, on the fourjh day after, day of valuation,, and ay all charges incurred for exhlbitjo'r valuation, storage, etc.—tho valu- |' of the wool constituting the net rej.to tho owner for the wool delivered 'the broker's store.' --•'.-'■■ '■ i 1917 the purchase was extended on sically the same term's-to"cover'the 18 clip,, and negotiations have now I practically completed for the purls to for the period ofwar and for one year subsequent to.' i 30, after the. cessation; of .hostilities.' iations.havo been.'made on the,basis =d upon, and the result for the' 191Vlip to-June'3o shows the-total pur-' fe:for,all classes of greasy wool to be 25 bales for ,£11.851,322, equal t0..a11. age price of 1i.96d. pew lb. • A cornsou of- the actual sales .of wool made. Jew Zealand during the 1913-11 : sea'with the prices paid to growers' the 191748 clip shows the following rcrice in' favour of growers; 1913-11 pof,wool in New Zealand at auction * iprising fleece, lambs,, pieces, bellies, ? V and cnitchiDgs), ■ 264,831 ' bales j ■age. weight per bale, 3171b., equals 17;3981b.; gross return, .£3,107,934; less ier's charges (estimated). .6127,797— ireturn to growers, equal 1.57(1. per' lb.; 8.57 plus 5 per cent, lis 13.25 d. per lb. 1917-18-522,325 is, net weight,' 190,191,1211b.; \\ujed for ,£11,851,822, equals. 14.9Cd. per -at. 8.57x1..'p1u5. 55 per cent. I'd equal advantage to thjs i-ers,. This- excess of apiimately 13d. per lb. is accounted for ' the basis' prices taken being ier. than the actual- sales\ made :'. New Zealand in 1913-11, ' and "the saving of, broker's 'charges for Mission, cataloguing, exhibiting, stor■'.etc, borne by the growers prior to i requisition of .wool by the Imperial ernment. "'■",-• i'.; - Distribution'of Wool. Dn the. arrivaL of the -wool in the 'ted Kingdom, all wool that is suit's for combing goes, to the top-makers let,' and is combed 6n commission, and ptically all of it is made into cloth fmilitary purposes. The l 'scoured' ll".'and wool for woollens, are reapised in the United Kingdom, and are led at fixed prices put upon them on t;'side. About 75 per cent, of the il.:,crossbred wool, including the Brit ' clip, l consumed in the United King-i-'during the year ended, June 30 last i"iised for'' Government.' purposes, jut"-20 per cent. New. Zealand wool, used foi- civilian purposes, but it is idssible to eay the exact proportion' New Zealand wool is frequently bleridjwrth. Australian.' The Imperial Gov-» ment,.in addition, to selling in origI packages, is, engaged in carbonising, nding, scouring, and Hop making proses, and issues- such' wool at fiied ;es. The Imperial Government conII over profits for 'all wool up to the fining stage is* complete, b'iit not State .trpl oyer later stages of civilian goods, My.owing to diversity of processes, 1 alsq. practical: difficulties in the way 'extending -similar control to other t1e5,,:,.,,;..:;}..'., -...!:..-..... ■ . '•?"■■„.„. Surplus Profits. ■ [The War Office is now engaged in nn'le'tihg its .wool accounts for the year-ling:-March 31, 1918, and it will be uiistood that it is a complicated, lengthy, I -laborious task. Such figures will lude the greater quantity of tho New ila'nd. 1916-17 clip, but not the whole, j fact, a portion'of the .1916-17 clip has ; even yet left New Zealand.- In the jking.flfi.tqps Australian and New Zea-. id. wools', are; blended according to >ir : ; suitability,^anil ''not. according fo sir!o'fjih'nj'and wobT'of different season's p.:is. similarly, dealt with: The wool itrol. and'operations- in,, tho United hgdom ihavq- been.' rendered much more iri 'pre-war, time's -by diniiri|ed transport and storage facilities and | depleted staffs. ■"; . /■' 'It,is' thus', impossible in the tircuminces of;to-d«'y to ascertain the iprofit Uised;'on : the New Zealand clip, for clr- separate .'year... Although no such bvision. 'was- made in .the original _bar. ini' the ilmperial Government has' deled . that'.the profit-sharing • arrangesnts should be extended so as to, inide the-results of the processes of topjkin'g'and carbonizing, it being the de!e of the Imperial Government to deal ,th such: questions in a broad and equil. ilo It will be understood, iwever, from the processes of blending love referred to, that, tho division of e results' of' the operations between ew Zealand and Australia will bo to ino extent 'a. question of estimate, in loportion to the total values of Aushlian and New Zealand wool'used in ie two operations. There is no doubt, hv*rer, that the calculation will be ade in a manner satisfactory to all pares. \ ■ '. ''The position regarding surplus prois may bo summarised as* follows:~ bout 20 per cent, of tho New Zealand ip is issued for civilian purposes, and ilf the profits mado oh sijch sale,s will '. returned to : New Zealand growers, he accounts now being completed injiide the greater portion of the 1916-17 ip, and the amount for distribution lonld be available early in 1919 for'n ro rata distribution on a basis to be franged. - Pur'her„distril>utions will bo jade available on subsequent clips durig the following years. Wool-growers 'ill, of course, understand that 1 the mount for distribution is unlikely to iie idividually large, but.no indication of jo amount is yet possible."

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19181108.2.55.1

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 12, Issue 38, 8 November 1918, Page 8

Word count
Tapeke kupu
1,015

WOOL PURCHASE Dominion, Volume 12, Issue 38, 8 November 1918, Page 8

WOOL PURCHASE Dominion, Volume 12, Issue 38, 8 November 1918, Page 8

Help

Log in or create a Papers Past website account

Use your Papers Past website account to correct newspaper text.

By creating and using this account you agree to our terms of use.

Log in with RealMe®

If you’ve used a RealMe login somewhere else, you can use it here too. If you don’t already have a username and password, just click Log in and you can choose to create one.


Log in again to continue your work

Your session has expired.

Log in again with RealMe®


Alert