WOOL PURCHASE BY IMPERIAL GOVERNMENT

Dominion, Volume 12, Issue 140, 8 March 1919, Page 10

WOOL PURCHASE BY IMPERIAL GOVERNMENT

SURPLUS PROFITS, •fhe War' Office is now engaged in completing its wool accounts for the year ending Maroh 31, 1918, and it will bo understood that it is a complicated, lengthy, and laborious task. Such figures, remarks the "New Zealand Journal of Agriculture,' r \ will include the greater quantity of the New Zealand 191G-17 clip, but not the whole. In fact, a portion of the 1916-17 clip ha 3 not even yet left ■New Zealand. In the making of tops - Australian and-Now Zealand wools aro ' blended- according to their suitability, and not according to their origin, and wool of different seasons' clip is similarly dealt with. The wool control and operations in tho United Kingdom have v befit rendered mueh more difficult than •„' ia pre-war times' by diminished transport "and "storage facilities and by de- ' pleted staffs. It is thu§ impossible in the circumstances of to-day to ascertain. the profit realised on the New Zealand clip for each_ separate year. Although no 6uch provision was made in, the originol bargain, the Imperial Government has decided that the profit-sharing arrangements should be extended so as to include the results of tho processes of topmaking and carbonising, it being the desire of the Imperial Government to deal.with such questions in a broad and . equitable manner." ' It will be understood, however, from the processes of blending above referred to that tho division of the results of the operations between New Zealand and Australia will be to-some oxtent a question'of estimate, in ■ proportion to the total" values of Australian and New Zealand wool.used in the ! two operations. There is no doubt, . however, that the calculation will be made in a manner satisfactory to all parties. : The position regarding surplus profits ma;;- bs summarised as follows:—About 20 per cent, of the New Zealand clip is issued for civilian purposes, and half the profits made on such sales will be returned to New Zealand growers. Tho accounts now being completed include : : th; greater portion of the 1916-17 clip, . and'the amount foridistribiition should: be available early in 1919 for.,ft pro rata distribution on- a' basis to be arranged. ■ Further distributions will be made available on subsequent clins during the fol- " lowing years. Woolgrowers will, of ■ course, understand that the amount for distribution is unlikely to be individually large, but no indication of the amount is yet possible.'