WOOL PROFITS

Dominion, Volume 13, Issue 111, 4 February 1920, Page 7

WOOL PROFITS

DOMINION'S 50 PER CENT "y SHARE '1* It STATEMENT BY PRIME MINISTER •V (1 y NO PHENOMENAL SUM TO BE it EXPECTED n jj A statement was made by tho Prime y Minister yesterday relating to the surplus profits on wool Te-sold by the Im- | lierial Government, in which profits New q Zealand producers share equally with the , Imperial Government. Mr. Massey's , 9 statement follows:— "It will doubtless be of interest to a wool-2rowers to know that the latest reply receive<l to the representations 'j mndo by the Government to the Imperial | authorities for an early settlement of r interim accounts to enable a distribution . of the Dominion's Bhare of the profits on wool transactions under the Imperial | Government requisition to be made to 5 Growers, is to the effect that a final setj tlement of the question is impossible until an agreement is reached with the " various Allied Governments as to the rebates on wools disposed of to those G , ernments entitled to inclusion in 1 • partnership arrangement with the ] | minion. | "It is pointed out that the whole m ' ter is one of great magnitude, and f ' difficulties have been accentuated owi to the drastic and compulsory reducti | in the staffs of the Imperial Governm« 1 Departments concerned. -Growers m ; accept my assurance, however, that 1 effort will be spared to secure a sett 1 ment in the shortest possible time, a 1 preparations have already been made this end which will ensure a prompt d tribution when the necessary particul; are received from London and the fun made available. "While on this subject I would poi out that so much has been stated Press reports regarding the enormo profits made by the Imperial Govei ment on its Australasian wool purchas that it will do no harm to examine t position as far as New Zealand wools a concerned, and may avoid disappoir ment to those growers who, basing tilt estimates on the information referred may have an exaggerated idea of t' amounts they are really to receive. Ve: high prices have been realised at tl London sales, but it is a far cry fro coarse to medium greasy crossbred special lines of superfine scoured wool f which extreme prices have been paid : London. "Tho Dominion's ttoo! clip may 1 roughly divided into tho followii classes 1.5 per cent.—Merino. 7.5 per cent.—Halfbred. 15 per cent.—Fine Crossbred. 4G per cent.—Medium Crossbred 30 per cent—Coarse Crossbred. An examination of catalogues of Loi don sales, picked at random, disclosi the following interesting position:— 4,321 bales Wellington wool 1918-19] olip sold in London, August, 1919-.— N.Z. London Avgi vatiui- sale per 11 tion. price, n argii Bales. d. d. d. 331-bred 18-215 31-42 17.1 515 fine X-bd lSi-20 22-33* !U 3,140 med. X-bd UJ-18* 19-30 7.4 GO3 coarse X-bd. .. 11-1(5 18-21* 4,t 4,321 Average margin por 1b.... 7.3 7G2 bales Napier wool IDIS-1919 clip sol in London, October, 1919:— N.Z. London Avg( valua- sale peril; tion. rrice. margin Bales. d. d. d. 91-brcd 17-20 3341J 18.1 44: fine X-lxl 153-17* 25-33 12.5 443 med. X-bd. ... 14*-IGJ 20-31* 8.2 2CG conrsc X-bd. .. 13 -16* 17-2S* 7.7 7G2 Average margin per 1b.... 8.4; 681 bales Napier wool 1918-1919 clip col< in London, October, 1919.— N.Z. London Avge yalua- salo per lb tion. price, r.iargin Bales. d. d. d. 31 fine X-bd 155-17 225-31 13.! 512 medium X-lxl, 14*-17 19*-35 9.5! 141 coarse X-bd. ... 144-17 181-40 6.9! GSI Averago margin per 1b.... AS 89 bales Napier wool 1917-1918 clip sold in London, August, 1919 — N.Z. London Avge valua- sale per lb. tion. vrice. margin, Bales. d. d. d. 89 bales seedy pieces and lambs 9-13 1.25 704 bales Auckland wool 191S-1919 clip sold in London October, 1919:— N.Z. London Avm. valua- salo per lb. tion. price, margin. Bales. d. d. d. 9 fine X-bd 153-17? 29-31* 13.72 531 medium X-bd. 13-10? 17-30 7.1 114 coarse X-bd. .. 11 -15J- 18-25 7.2 701 Average margin per 1b.... 7.19 1,307 bales Timant wool 191S-1919 clip sold in London, August, 1919:— N.Z. London Avge. yalua- salo per lb. tion. price, irargin. Bsles. d. d. d. 89 morino 19S-21 32-39* 10.87 38 J-bred 171-21* 27-45 20-35 705 fine X-bd 155-18* £2-31 8.62 ■175 medium X-bd. 15J-17* 22-25* 7.35 1,307 Average margin per 1b.... 9.63 From (he margin shown has to be deducted all charges incurred from the point of delivery of wool by growers into brokers' store in JNew Zealand, viz.: Brokers' charges for cataloguing, stacking, etc. Valuers' expenses. Storage. Delivery chn.rges to f.o.D. Insurance (fire, marine, and war risk). Ocean freight. Landing, dock charges, and storage at destination. ?alo and delivery charges in London. interest on purchase, cost, etc., otc. Theso charges, while it is difficult to estimate exactly, must amount to a coniiderable amount per pound. However, the prospects appear very jood of a largo aggregate sum ultimately being mad* available to Now Zealand :rowers, which it is proposed shall be. distributed, an I havo already stated, as promptly as possible, as instalments aro undo available by tht> Imperial Gownncnt. DISHWASHING DECLINED « SOLDIER-PATIENTS' ULTIMATUM. liy , rclcir"" ,, > -»>"•«« Afieinflnn. ChfistchurcH, February 3. A sequel to tho trouble at tho ("Vislinero military sanatorium was a confer•nco held to-day between, officers and nen. The authorities decidcd to in;trucf. tho orderlies to do all the work o which the men objected, except the vashing of the dishes. The men held a neeting later, and after being addressed iv tho president and the secretary of tho Tiristchurch Returned Soldiers' Associaion, decided to return to tho sanatorium or a. period of seven days, to allow the Ictnrncd Soldiers' Association to negoii'Vn with tho authorities. The men elate that if the authorities lo not meet them on the dish-washing [uestion bv then, lliey will go "on trike" again.