SALE TO BRITAIN

Gisborne Herald, Volume LXVII, Issue 20151, 22 January 1940, Page 10

SALE TO BRITAIN

SLIPE WOOL SURPLUS DURATION OF THE WAR 13.75 a PER LB. STERLING MINISTER'S STATEMENT (For Press Association ) WELLINGTON, this day, Arrangements for the sale of New Zealand's export surplus of slipe wool to the United Kingdom, were announced bv the Minister of Marketing, the lion. W. Nash, in an address on Saturday night. The results of the negotiations which have taken place between the two Governments for the sale of the country's woolly sheepskins, the total exportable surplus of which is required by the United Kingdom, were also given by the Minister, who outlined the progress made with the negotiations for the sate of hides and tallow. Mr. Nash said that following the extensive negotiations an agreement had been reached for the purchase by the United Kingdom of the total production of slipe wool for the period of the war and one year thereafter over and above New Zealand's own requirements. The price was to be 13.75 d. sterling f.0.'0., equivalent to 17.1016 d. in New Zealand currency, with the provision that the Dominion shares with the United Kingdom on a 50-50 basis in the profits on the sales made outside the United Kingdom.

‘■‘The purchase- covers slipe wool held over from-last-season as well asthe current season’s production,” said Mr. Nash. “After allowing for appraisal and administration costs at ,125 d„ the overall average f.o.b. price in New Zealand currency for all sheep and lamb slipe wool becomes 10.97G6d. from which will be deducted 10 per cent as a suspense fund to cover any necessary adjustments consequent on the results of the appraisal.”