WOOL INDUSTRY

Press, Volume LXXXIII, Issue 25250, 31 July 1947, Page 8

WOOL INDUSTRY

N.Z. BOARD’S ANNUAL REPORT

"The past season has been difficult and in some instances shearing operations have actually been held up due to the lack of woolpacks,” says the third annual report of the New Zealand Wool Board. “All possible action has been taken to ensure that adequate supplies » will be available for the coming season. The board has now been informed that orders have ben placed and accepted for 800,000 woolpacks from India, and these, coupled with the 200,000 wolopacks which will be manufactured by New Zealand Woolpack and Textiles, Ltd., Foxton, will ensure that the total Dominion requirements will be covered. “Arrangements are now in train to see that the imported woolpacks will arrive in ample timd for next season’s clip. Distribution of both imported and locally manufactured woolpacks, will be controlled by the Jute Emergency Committee, using the normal trade channels with a view to seeing that an equitable distribution is made to all users. “As a result of pressure by the Board the Government has expedited the erection of houses at Foxton and is proceeding with a programme of permanent housing with the object of encouraging additional labour which should materially increase the output of woolpacks from this mill. Credit is due to the Government for the prompt manner in which it has handled this aspect of the question. Weight of Bales The report says that every endeavour has been made to find some means of securing some relaxation in the orders relating to the weight of bales of wool and double dumps, and on representations being made to the Waterfront Industry Commission, a meeting of all interested parties was held on April 30 .to examine further the whole position. The board was represented at this meeting and the full position regarding the jute situation and the question of wire for tying the double dumps was placed before the meeting by representatives of the Department of Agriculture and the Department of Industries and Commerce.

After listening to the representations on the question of the restriction of the weight of single bales of wool to 4001 b gross, the representative of the Storemen and Packers’ Union agreed, on behalf of his union, to the rescinding of the Woolpacking Control Order. Resulting from this meeting the Waterfront Control Commissioner recommended that the restricting order be revoked and the Minister of Agriculture directed accordingly. The board expressed thanks to the Storemen and Packers’ Union for their co-operation. The implementing of this order resulted in congestion in all sections of the industry in the handling of wool from growers’ sheds right through to shipping. Apart from the additional wool packs required the whole work of marketing the clip was slowed up.’ No increase in the weight of double dumps of wool could be secured and the position remains that the order issued by the Waterfront Industry Commission restricting the weight of double dumps of wool to 6801 b gross is still in force. Levy on Wool • Because of the increased scope of the work being carried out by the International Wool Secretariat overseas, and the steady expansion of the board’s activities in New Zealand, it has been necessary (says the report) to increase the levy on wool. All wool produced in New Zealand now bears a levy of 2s a bale, Is a fadge, and 4d a bag or sack. The Wool Industry Act .has been amended so that a levy can also be collected on the wool content of all sheepskins exported from New Zealand. “Promotion of the use of wool by the nation at large.” continues the report, “must be visualised as a task calling for both a long-range and a short-range plan. The long-range plan, it is submitted, must aim at indoctrination of New Zealand’s school children with a just appreciation of the importance of wool in the life of their nation, the qualities which make wool unique and of superior value (to other materials) and the history and significance of wool growing and marketing. Although the prosperity of this country depends largely upon wool, the majority of the children are not in direct touch with

farming life. They are ignorant of the value of wool textiles, and of the processes from sheep farm to mill and factory by which their own clothes are made. • Wool publicity through schools will not only develop an appreciation of wool as a textile but will also develop a sympathetic and co-operative attitude toward the sheep . farmer and his problems. “The short-range objective however, must have as its target the immediate education of adult customers for wool. This near-future need is fully realised, and thought has been devoted to the most Erofitable lines of approach to the quejon. The basis of this campaign should be through existing commercial Channell using means calculated to arouse curiosity, stimulate Interest, and capture the imagination. This means the dramatisation, or the crystallising by means of imaginative presentation, of the special attractions and appeal of wool in New Zealand, the new uses of wool, its healthful, energy conserving qualities, and the unioue fashion possibilities of woollen materials.”

COMPANY NEWS

BROKEN HILL PROFIT

BIG INCREASE IN EARNINGS A net profit, subject to audit, of was announced in a preliminary statement by the directors of Broken Hill Pty. Co., Ltd., from Melbourne this week. This result, which covers the year ended May 31, is £466.601 greater than the previous year’s earnings, and the best since the reebrd profit of £1,431,513 reached in 1939. . As already announced, dividend for the year was raised to 7] per cent, with a final distribution of 9d a share. 1945 1946 1947 I £ £ Net profit .. 759,367 779,292 1,245,893 Depreciation 1,161.538 1,012,968 97W74 Special do. .. 283,757 Tax pro V... 825,000 375,000 1,475,000 Div., p.c. * .. 5 5 7j The capital of the company is £13,884,902. It is the largest individual iron and steel producer in the British Empire, and has ramifications extending over a wide range, and allied and elated industries. Evans Atlfs Floui* Dividend.—This company has declared an interim dividend of 4 per cent., payable July 31. • ( ‘ SHAREMARKET INDICES ~ ’ ' London.—“ Financial Times” (1926 equ« 1W » ; -

New York.—Dow Jones (126 equals , 100). 1939 Highest (Sept.), rails, 35.90; industrials, 151.22. Lowest (April), rails, 23.15; industrials, 121.4.

MINING Mount Isa Development.—A mining company, with more than £1.000,000 awaiting investment, will inquire into the prospects of greater exploitation of the Mount Is®, silver-lead field. This move is revealed by the Queensland Government. Th* principals are believed to be the Zine Corporation or one of its subsidiaries. Mr G. E. Mathieson, district managef for Canterbury of the International Harvester Company of New Zealand, Mr M. L. Bailey, district manager at Pal* merston North, and Mr E. T. Shore, service manager, left by air on Tuesday for Auckland, en route to Australia. They will make an inspection of the International Harvester Company’s factory at Geelong, also of the latest farming methods throughout Australia. -

January 31 Indr Ord. Govt. 120.52 SSt February 28 132 119.82 13521 March 31 . 128.4 117 76 123.4 April 30 •. 134.5 118.19 119.73 . May 27 134:9 118.61 114.TO-S June 29 133.1 116.87 11526 " July 18 132.3 116.17 11823 July 21 132.1 115.85 118.66 July 22 131.8 115.74 118.11 July 23 131.8 115.59 118.83 July 24 July 28' 131.2 127.6 115.35 113.89 119.717 117.65

Rails. Indus. Shares sold. Decejnber 31 . 51.13 177.20 1,820,00# January 31 50.88 180.44 1,310.000 February 28 . 50.39 178.90 680,000 March 26 48.7 177.1 940.000 April 30 45.22 170 64 780,000 May 28 . 44.24 169.25 900.000 June 29 « 45.88 177.3 670.000. July 18 49.33 184.60 920,000 July 21 50.24 183.52 840JOO July 22 50.37 183.78 780,000 July 23 50.83 184.95 1,080,000 July 24 51.63 186.85 1,570.000 July 28 50.72 184.95 1,090,000