WOOL PROFITS.

Taranaki Daily News, 14 September 1920, Page 5

WOOL PROFITS.

. dCHEME OF DISTRIBUTION. LARGE AMOUNTS AVAILABLE. 'fey Wir«.—Parliamentary Reporter.) Wellington, Last Night. In reply to Mr. E NeWman (ManaVi:ti).: Mr. Massey sa'd it is intended that all nuns of money becoming availalle ae surplus profits on New Zealand wool sold to the Imperial Government, shall le distributed among the growers who have sold their \plips in proportion to the aggregate amdunt paid to eaeh by way of purchase made. The sum of '£1,819,000 already received will be paii? to growers of the 1916-17, 1917-13, and 1918-19 clips, as an instalment of the amount which will finally become due on account of the share of profits de* lived from the sale «f the wool by the imperial Government. It is anticipated that a further sum bf a substantial nature will become available as the share •of profits to March 31, 1920. This sum, when tredited, will he distributed amongst the powers of the 1916-17, 1917-18, 1918-19, «nd IM9-20 clips in such amounts as Will ensure that when the distribution has been completed each grower shall have received an amount proportionate to the total purchase money paid to him nnder' the scheme. It is also anticijated that when the balance of New • Zealand wool held by the Imperial Government ie disposed' of a further sum jriTl become available for distribution St the basis outlined above.