AUSTRALIAN WOOL

Gisborne Herald, Volume LXVI, Issue 20072, 19 October 1939, Page 7

AUSTRALIAN WOOL

SALE IN BRITAIN “PRICE SATISFACTORY” SYDNEY, Oct. 4. The Prime Minister, Mr. R. G. Frenzies*, said yesterday that the Australian wool producer would receive a satisfactory price for bis wool, under the agreement with the British Government. Details of the agreement virtually had been decided, but the British Government was still in negotiation with others, and until tlio.se negotiations were completed he was not at liberty to disclose the terms of the agreement. At a very early date, said Mr. Menzies, oversea funds would begin to move into Australia in payment for wool, and a position as near as possible to normal would exist, as far as it affected the wool grower and those dependent on his spending power. Tho Central Wool Committee is now in a position to proceed with the appraisement of wool. The agreement between tho Commonwealth and the Government of the United Kingdom would be for the acquisition by tiie Governments of the entire Australian wool clip during the present war, Mr. Menzies added. Since the outbreak of war, the terms and conditions which would govern this acquisition had been under constant discussion between the two Governments. In these discussions the Commonwealth Government had had the benefit of the advice of the Central Wool Committee.