“POOLS ” IN AUSTRALIA.

Poverty Bay Herald, Volume LI, Issue 16773, 4 July 1925, Page 13

“POOLS ” IN AUSTRALIA.

HUGE LOSSES ON FRUTT. “Pooling” projects in the Common so far as they relate to fruit, have proved exceedingly expensive enterprises. The Auditor-General states that in April, 1925, his inspector in Victoria- reported that both the Customs Department- and the Department of Markets and Migration had been pressed for final balance-sheets of the pools, hut so far the balance-sheets and profit and loss accounts have not been furnished. In 1922-25 the sum of £312,000 was voted for the purpose of meeting losses on the 1920-21 and the 1921-22 fruit pools, and during the year £4751 was charged against the credit to meet the net losses on the Ringwood and Croydon and Maryborough special pools. In the following year the balance—£3o7,24B was fully expended, iti addition to £14.939 * which was charged to the Treasurer’s advance. f.’n the 1920-21 pool the loss, as far as can lie ascertained, was £91.939, and on the 1921-22 pool £235.000. In addition to these amounts, provision lias been made in the Appropriation Act, 1924-25. for £154,000 to cover losses on the 1920-21 apd 1921-22 pools, and this amount was fully expended in 1924-25. In 1923-24 the sum of £284,000 was brought to account by the Treasury as repayment of advances made in the 1922-23 pool.