IMPERIAL WOOL PURCHASE

Wanganui Chronicle, Volume LXXXI, Issue 19009, 9 May 1924, Page 8

IMPERIAL WOOL PURCHASE

TERMINATION OF SCHEME. LONDON, May 7. Sir J. Goldfinch entertained a distinguished company of over a hundred persons, including representatives of Australia and New Zealand in the Yorkshire wool trade, to celebrate the successful termination of the Imperial wool purchase scheme. The chairman, toasting the woolgrowing Dominions, paid a tribute to Australia and New Zealand’s co-op-eration when the Empire, in W’ar time, needed their wool. He emphasised that there was no haggling over prices for the Imperial purchases the Dominion governments, wool-growers and people being willing to do everything for the national good. Looking at the future, he said he desired to declare with the utmost deliberation, the importance of increasing the world’s sheep population. He expressed the opinion that there was no business in the world ih which capital could be invested with greater certainty of a profitable return than in sheep farming. Such development, while of advantage to investors and to Australia and New Zealand, would render great service to Britain, which was threatened with a serious wool shortage.

Sir James Allen, in responding, outlined the practical recognition which New Zealand sheep growers had shown for the services of the mercantile marine by the scheme of setting aside a Quarter of a million of their profits for assistance to dependants of mercantile mariners who gave their lives in war. He pointed out that arrangements had been made to take to New Zealand fifty boys every quarter for training and settlement. He was glad to announce that New Zealand’s sheep population was now increasing.