COMMERCIAL

Greymouth Evening Star, 23 May 1942, Page 6

COMMERCIAL

WOOL PRICES INCREASED

WELLINGTON, May 23. An increase of 15 per cent, in the price to be paid by the United Kingdom for the 1942/43 wool clip of Australia, with corresponding adjustment in prices paid to South Ainca and New Zealand, was announced to-day by Mr. Barclay, who said he had received official advice from the United Kingdom High Commissioner (Sir 11. Batterbee) to that effect. The increase, said Mr. Earclay, had finally been determined on as the result of discussions which had recently taken place in London between Dr. Evatt and the Chancellor of the Exchequer. The New Zealand Government had advised Britain that the costs of production! and handling wool had increased since the outbreak of the war, but no formal application lor an increased price had been mane at tne time, an agreement having been reached between the 'two Governments that any increase granted io any other Dominion, would be subject to corresponding adjustment for Rew Zealand wool. The Minister added that the prompt action by the British Government would undoubtedly be 1 ully appreciated by the New Zealand producers. AUCKLAND WOOL. AUCKLAND, May 22.. The distribution of 11384,835 in 'payment for wool valued at the final appraisement in Auckland for’ the .eason is announced by the Auckland Wool Brokers’ Association. This gives •i record for the season in the Auckland Province, the aggregate being £1,770,742, compared with the preNous record of £1,653,092 for the 1940-41 clip. In addition to the record value, the quantity of wool handled this season also established a new peak ievel. In the six appraisements 103,612 bales were valued against 95,340 bales in the previous season.

MAORI GOLD. Maori Gold dredging was resumed on May 13, and the return for 183 Hours’ dredging is 38 ozs. 13 dwts. lor 19,500 yards. MOONLIGHT COLDFIELDS. Moonlight Goldfields report that the washup at the claim on May 21 .was 40oz. 17dwt. for 265 hours’ sluic- . ing. SNOWY RIVER. The return from the Snowy Rivei dredge was IG4 ounces for 127 hours, from 23.600 yards.