SLIPE WOOL SOLD.

Auckland Star, Issue 18, 22 January 1940, Page 4

SLIPE WOOL SOLD.

CONTRACT WITH BRITAIN. AVERAGE PRICE OVER I7D. SHEEPSKIN'S, HIDES, TALLOW. (By Telegraph.—Press Association.) WELLINGTON, this day. The arrangements for the sale of New Zealand's export surplus of slipe wool to the United Kingdom are announced by the Minister of Marketing, the Hon. W. Nash. The results of the negotiations which, have taken place between the two Governments for the eale of the Dominion's woolly sheepskins, the total exportable surplus of which ie required by the United K,in«doin, are also given by the Minister. Negotiations for the sale of hides and tallow are in progress. Agreement has been reached for the purchase by the United Kingdom of the total production of slipe wool for the period of the war and one year thereafter, oyit and above New Zealand's own requirements. The price is to be K).75d sterling, f.n.b.. equivalent to 17.1016 c! in New Zealand currency, with a provision that the iJomiuion shares with the United Kingdom on a fifty-fifty basis in profits on sales made outside the United Kingdom. . The purchase covers slipe wool hold over from last season, as well as for the current season's production. After allowing for appraisal and administration conts, at .125 d, the overall average f.o.b. price in New Zealand currency for all sheep's and lanib'e elipe wool becomes 10.97Ct>cl, from which will be deducted 10 per cent as a suspense fund to cover any necessary adjustments consequent on fehe results of the appraisal. The prices range from about 7d per lb to as high ae 22d in some cases, but the average must work out at juet a fraction under 17(1. The whole of the moneys retained but not used for adjustment "purposes will be refunded to the owners of the slipe wool on a pro rata basis at the end of the season, as with greasy wool. All costs and charges up to f.0.b., including preparation and display, are the responsibility of the owners. Shipments will be made as promptly ae ships* are available, in accordance with the desire of the United Kingdom Government. Appraisal will be carried out by the New Zealand Wool Buyers' Association, which will commence this work on Tuesday in the North Island. The .appraisals will continue throughout Ne*v Zealand in rotation, and every effort will be made to relieve aa quickly as poeeible any congestion in the freezing worke and fellmongcra' stores. Britain will aluo require New Zealand's total exportable surplus of woolly sheepskins and the basis of purchase will be the slipe wool price for wool on the skin, plus the ruling parity of value for pelt or skin. WOOL TRADE IN WAR. EXPORTS FROM DOMINIONS. LONDON, January 21. The committee for the sale of wool abroad announces that, excepting France, where the buying is done through the Government, it k hoped that direct export from Australia will continue to be conducted through the normal channels of trade; aiso that British houses with American and European connections will secure their share of Australia's exports.

Wool at presf-tit is not available for export from New Zealand except to the United Kingdom, although limited quantities are available for urgent Canadian needs.