WOOL PURCHASES

Wairarapa Times-Age, 17 September 1943, Page 3

WOOL PURCHASES

ENORMOUS STOCKS HELD BY BRITAIN. QUESTION OF POST-WAR LIQUIDATION. (By Telegraph—Press Association—Copyright) LONDON, September 15. The United Kingdom Government is spending more than £100,000,000 sterling in the purchase of Empire wool clips. The New Zealand 1942-43 clip is stated to have been valued at £19,878,635, the Australian at £74,107,286, and the South African clip at £13,000,000. In addition, the Government also buys Britain’s clip. “This enormous of wool is without parallel in world wool history” states the “Yorkshire Past.” “During the last war, when Britain bought the Australian and New Zealand clips, the annual cost to this country did not exceed £61,000,000.” The paper adds that the most individualistic traders will find cause for gratification that amid the uncertainties of the present day and despite the fact that war reasons curb consumption in several directions at the moment, any unused balances of these vast stocks are in the safe hands of the British or United States Governments. “Were they privately held, there could be little confidence either in current prices or outlook,” the paper comments. “The Government ownership is the surest possible guarantee that post-war liquidation of such surpluses will be carried out in the manner which will cause the least possible embarrassment, either to producers or consumers.”

POPE A PRISONER a VATICAN COMMUNICATIONS CUT BY GERMANS. FINAL BLOT ON MUSSOLINI. (By Telegraph—Press Association—Copyright) (Received This Day, 10.30 a.m.) LONDON, September 16. The Germans have cut all commdnications between the Vatican and abroad, states the underground Italian radio station calling itself “Free Milan.” The Germans now control the Vatican radio and the Pope is a prisoner. The “New York Times,” commenting on the orders issued in Mussolini’s name, says the presence of German troops in the Vatican City has put the final blot of shame on Mussolini’s treachery. ITALIAN WARSHIPS ELEVEN REACH ALEXANDRIA. UNDER BRITISH ESCORT. (Received This Day. 10.30 a.m.) LONDON, September 16. Eleven Italian warships, with a British escort, arrived in Alexandria today from Malta. They comprised the battleships Vittorio, Veneto and Italia, three cruisers and five destrpyers, and were commanded by Rear-Admiral Olivia, flying his flag in the cruiser Eugenio Di Savoia.