WOOL PROFITS.

Star (Christchurch), Issue 19863, 4 February 1920, Page 5

WOOL PROFITS.

PRODUCERS’ SHARE. [Per Press Association’.] WELLINGTON, February 3. A statement was made by the Prime Minister relating to the surplus profits on wool resold by tho Imperial Government, in. which profits New Zealand producers share equally with the Home Government. Mr Massey said; “It trill doubtless bo of interest to woolgrowers to-know that the latest reply received to representations made by tho Government to the Imperial authorities lor an early settlement of interim accounts, to enable a. distribution of the Dominion’s shave of the profits of wool transactions under the Imperial Government requisition to bo made to growers, is rn -the clfect that a final settlement of the question is impossible until an agreement is reached with the various Allied Governments as to rebates on tvools disposed of. Those Governments nro entitled to inclusion in the partnership arrangement with the Dominion, ft is: pointed out that tho whole matter is of great magnitude, and difficulties have been accentuated owing to the drastic and compulsory reduction in the staffs of tho Imperial Government Departments concerned. Growers may accept my assurance, however, that no effort will he spared to secure a settlement in the shortest possible time, and preparations have already been made at this end which will ensure prompt distribution when tho necessary particulars are received from London and funds made available. “ While on this subject I would point out that so much has been stated in Press reports regarding the enormous profits made by the Imperial Government on its Australian wool purchases that it will do no harm to examine the position as far as New Zealand wools are concerned, and it may avoid disappointment to those growers who, basing their estimates on tho information referred to, may have an exaggerated idea of the a mown is 'they are really to receive, '.‘cry high prices hare been realised at the London sales, but it is a far cry from coarse to medium greasy cross-bred to special lines of superfine scoured wool, for which extreme prices have been paid in London. However, prospects appear very good of a largo aggregate sum ultimately being made, available to Now Zealand growers, which it is proposed shall lie distributed as promptly as possible; as instalments are made available by tho Imperial Government-.