EXCHANGE RATE.
SHEEPFARMERS NOT GAINING?
WOOL SOLD IN DOMINION.
(By Telegraph.—Own Correspondent.) GISBORNE, this day. The suggestion that eheepfarmers who sell their wool in New Zealand do not get the benefit of the exchange rate was made at a meeting of the Poverty Bay Sheepfarmers' Union on Saturday. Figures were presented to tho meeting showing that tho average price of wool sold at the Napier sales last season was 4.08 d per lb, compared with 4.49 d in 1931-32, tho reduction being equal to 12/8 a bale, or £53,912 over all the wool sold at the Napier series. Mr. W. G. Sherratt remarked that the clips that had been shipped Home last season had given better returns than in tho previous year. Mr. J. B. Kells: Wool sold in London got the benefit of tho increased exchange rate. ■Mr. Sherratt: We are supposed to get tho benefit of increased exchange by selling here. Mr. G. M. Reynolds expressed the opinion that the reduction at Napier was due more to the inferior type of wool being offered.
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Bibliographic details
Auckland Star, Volume LXIV, Issue 136, 12 June 1933, Page 8
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176EXCHANGE RATE. Auckland Star, Volume LXIV, Issue 136, 12 June 1933, Page 8
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