N.Z. WOOL CLIP

Gisborne Herald, Volume LXVI, Issue 20070, 17 October 1939, Page 11

N.Z. WOOL CLIP

RETURN TO GROWERS EQUIVALENT TO 12|D SHARING OF PROFITS RESALE OF CLIP (Per Press Association.) WELLINGTON, this day. The Minister of Marketing, the Hon. W. Nash, announced that following lengthy negotiations, a price has been fixed for the purchase of the New Zealand wool clip for the period of the war and one year there; Her The price is 9.8 d sterling, equivalent to 12.',d New Zealand currency, with a provision that New Zealand s'Liill share with the United Kingc.om or. the basis of half the profits on li.e sale of wool outside of the United Kingdom. “The negotiations have necessarily been lengthy,” said Mr. Nosh, "the Government’s endeavour being to procure a price that would ensure a reasonable return to aIL New Zealand’s wool producers. “The price is well above last year's realisations, and compares favourably with the, * Australian price of i0.75d. sterling for the Australian clip. “There arc still many details to be arranged between the Governments concerned as to brokers’ and other charges, and it is impossible at this stage to estimate the probable return from the profits on the sales outside of the United Kingdom. “The Government has been in frequent conference with representatives of the wool broker's and buyers, with, the object of making all the necessary arrangements for the handling and appraisement of the wool as soon as deliveries are made to the stores,” Mr. Nash added.

Final arrangements in this connection would be announced later. The Marketing Department, he said, was charged with the responsibility of carrying out all the necessary work in connection with shipping and payments, and the staff was now being organised to fulfil these functions efficiently and without delay.