NEW ZEALAND WOOL

Otago Daily Times, Issue 17066, 26 July 1917, Page 2

NEW ZEALAND WOOL

NEXT SEASON'S CLIP. SECURED BY IMPERIAL GOVERNMENT. (Feom Oue Own Coreespondknt.) WELLINGTON, July 25. Mr Massey announced in the House of Representatives to-day that the Imperial authorities had informed hirn of their intention to purchase the whole of the New Zealand wool clip for the next season on similar . . ;ns to those arranged last season. The pr.uj would be the same, but the conditions, Y'iiich had been on the whole very satisfactory, might be improved in isomo respects. The Prime Minister added a very important qualification, the seriousness of which was appreciated by the House. He quoted the following sentences from a communication received from the Imperial authorities on the subject in considering what would be a fair pr;ce for tho next clip:—"lt is important to bear in mind that snipping facilities will become increasingly inadequate to lift tho clips, and in any oase a considerable quantity of wool will almost certainly remain in Australasia until after the war. In view of the increased probability that wool will not be shipped, the Imperial Government considers than the price should not exceed the price of 1-vst year, but is prepared to pay for the whole of the clip on the basis of the 1316-17 prices." The communication added thai the profit on tba sale of any wool not required for Imperial purposes would be _ divided between the Imperial and Dominion Governments, on the lines of last season's arrangement.