£7,500,000 LOST.
Woolgrowers Suffer by
Drop in Price. POSITION IN AUSTRALIA. United Press Assn.—By Electric Telegraph—Copyright. (Received June 30, 11.30 a.m. t MELBOURNE, June 30 Mr J. M. Niall, acting-chairman, addressing the shareholders at the annual meeting of the Goldsbrcugh Mort Company, estimated that Australian woolgrowers lost £7,500,000 in the last season. The average price of wool for the season to the end of May '-vas 8.55 d a pound, and the cost of production, excluding interest on capital invested, was not less than 10£d to lid a pound. “It is evident,” he said, “ that growers suffered a loss of 2d a lb, or about £2 10s on every bale produced. As the Australian clip for the season was 3,000,000 bales, the loss suffered was about £7.500.000."
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Bibliographic details
Star (Christchurch), Volume XLIV, Issue 493, 30 June 1932, Page 1
Word Count
127£7,500,000 LOST. Star (Christchurch), Volume XLIV, Issue 493, 30 June 1932, Page 1
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