PURCHASE OF WOOL

New Zealand Herald, Volume LXXVI, Issue 23479, 17 October 1939, Page 8

PURCHASE OF WOOL

NEW ZEALAND CLIP HIGHER PRICE EXPECTED SURPRISE AT BRADFORD By Telegraph—Press Associaiion —Copyright LONDON, Oct. 14 Tho prico at which tho British Government has acquired tho Australian and New Zealand wool clips camo as a complete surprise to Bradford, where rumours recently had led tradors to expect a higher figuro. Mr. Dudley Ackroyd, formerly president of tho British Wool Federation, howovor, said that tho prices had boon fixed on a reasonable basis, and ho bolioved tho reason was probably tho agreement to sliaro in tho profits from resale. Mr. Douglas Hamilton, formorly president of tlio Bradford Chamber of Commerce, considers that tho Government should be congratulated on securing clips so reasonably. Tho prices wore much lower than anyono had expected. "I should not bo surprised if somo provisions were made for increases in certain contingencies," ho added. AUSTRALIAN RETURN CHEQUE FOR £54,000,000 (Received Octobor 10, 5.5 p.m.) SYDNEY, Oct. 16 Tho return to Australia for tho current season's wool clip will bo about £54,000,000, compared with £42,500,000 last year. According to a statement mado by tho Central Wool Committee, inoro than 1,000,000 bales of tho current season's clip already is oil tho seaboard.