SLIPE WOOL

Timaru Herald, Volume CXLVIII, Issue 21558, 22 January 1940, Page 6

SLIPE WOOL

Exportable Surplus Sold To England OFFICIAL ANNOUNCEMENT By Telegraph—Press Association WELLINGTON, January 21. Arrangements for the sale of New Zealand’s export surplus of slipe zool to the United Kingdom were r nounced by the Minister of Marketing, the Hon. W. Nash, on Saturday night. The result 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 sale of hides and tallow. Mr Nash said that following extensive negotiations an agreement h-d been reached for the purchase by tha 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.b., equivalent to 17.1016 d New Zealand currency, with a provision that the Dominion shares with the United Kingdom on a 50-50 basis in the profits on sales made outside the United Kingdom. “The purchase covers slipe wool held over from last season as well as the 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 16.97666 d. from which will be deducted 10 per cent as a suspense fund to cover any necessary adjustments consequent on the results of the appraisal.”