WOOL DISPOSAL RETURNS
NO RETENTION OF PAYMENTS
(From Cur Parliamentary Repotte,, WELLINGTON. July ij Under the new wool disposal nt there will be no retention proceeds of sales at auction, and S grower wall receive the auction or 2! serve price, whichever is higher uL the contributory charge (which the operating costs of the new organ isation). This reply was given Minister of Marketing <the He® > Roberts) in reply to a question bv v T. L. Macdonald «Opposition, taura) in the House of RepreseJ? tives.
Mr Roberts said 5 per cent been retained under the system, because the clip was iold-t an over-all average price, and it impossible to ascertain the fS amount due to each grower until** end of the season. The 5 per retained was paid into a retention^ 1 count. If. at the end of the season » was found the wool had been mJ 1 appraised, the overpayment was £ ducted from the retention accountS the net balance paid to the grow? If, however, the appraisal value launder the proper figure, then the s per cent, and the additional payniw were paid to the grower.
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Bibliographic details
Press, Volume LXXXII, Issue 24932, 20 July 1946, Page 8
Word Count
187WOOL DISPOSAL RETURNS Press, Volume LXXXII, Issue 24932, 20 July 1946, Page 8
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