WOOL PROFITS

Greymouth Evening Star, 27 July 1920, Page 7

WOOL PROFITS

£1,520,000 TO BE PAID OUT. From the Piime Minister (Minister in charge of Imperial Supplies Department) it is learned that New Zealand wool growers who sold to the Imperial Government, will have coming lo them profits amounting to £1,620,000. This is to 31st March, 1919. It is additional to the amount they have rece ved for their wool, and is 50 per cent, of the profits made .by the Imperial Government on account of wool sold to buyers, and to be used for civilian requirements. The returns to the growers for wool during the seasons 1916-17, 1917-18. 1918-19 were 13.08 d per pound, 15.67 d, and 16.38 d respectively. The -wool was bought on the basis of 55 per cent, above prices - which were considered good —for 191415. There has already been paid out for greasy, scoured, and sline wool and sheepskins over £50.000,000 for wool under requisition. The £1,620,000 -s additional.

Matters connected with the allocation and distribution of this, amount are now engaging the attention of the Denartment of Imperial Sunplies, Imt it is expected that the distribution will not bo made for a few weeks yet. Many farmers* at the instance of Mr E. Newman, M.P., promised to give the profits as a thanks offering to the mercantile marine for safe carriage cf produce through the war' zone.