WOOL PAYMENT
/ » BONDS TO BEAR INTEREST AT 3 PER CENT AND TO HAVE TERM OF FIVE YEARS. MINISTER’S ANNOUNCEMENT. (By Telegraph—Press Association.) WANGANUI, This Day. An announcement that the Government had decided that the bonds to be paid to woolgrowers as part of the fifteen per cent increase in price will have a term of five years and bear interest at the rate of three per cent, payable at sixmonthly intervals, was made by the Minister of Agriculture (Mr Barclay) when he addressed a meeting of the Farmers’ Union last night. Mr Barclay said the decision had been made by the Government that morning. Referring to the 1942-43 season, the Minister said 90 per cent of the appraisal values had been paid, five per cent was available in bonds, four per cent would be paid in cash at the end of the season and one per cent would be retained by the Government to stabilise the local market. In this way growers would receive a fourteen pei’ cent increase.
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Wairarapa Times-Age, 26 March 1943, Page 2
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169WOOL PAYMENT Wairarapa Times-Age, 26 March 1943, Page 2
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