WOOL DISPOSAL PROFITS
JOINT ORGANISATION ACCOUNTS (New Zealand Press Association) f WELLINGTON, March 16. “Accounts for the fourth year ot operations of the Joint Wool Organisation disclose a further substantial reduction in stocks and a profit on the year’s operations of £30,089,94d,” said the Minister of Marketing (Mr K. J. HoJyoake) to-day. “With the profits of £55,334,258 earned by the organisation up to June 30. 1948, accumulated profits amount to £85,424,201, exclusive of the balances of war-time profits amounting to £27,747,076, which were transferred by the. United Kingdom Govefnment to the : Joint Organisation when it began operations on August 1, 1945. Stocks of wool on hand at June 30. 1949, have been reduced to 1,700,000 bales valued at cost at £22,704,566, which compares with the stocks of 1'0,407,000 bales costing £171,149,942 originally transferred to the organisation. . Purchases by the organisation at its reserve prices in support of the market were negligible.” The statement said that profits were divisble between the four Governments concerned as follows: Australia, £40,202,889; New Zealand, £9.097,675; South Africa, £7 284,065, United Kingdom, £56,585,638.
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Bibliographic details
Press, Volume LXXXVI, Issue 26064, 17 March 1950, Page 8
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177WOOL DISPOSAL PROFITS Press, Volume LXXXVI, Issue 26064, 17 March 1950, Page 8
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