WOOL CLIPS

Wanganui Chronicle, Volume 83, Issue 244, 16 October 1939, Page 8

WOOL CLIPS

PURCHASE BY BRITAIN THE PRICE ANNOUNCED 9.8 d FOR NEW ZEALAND [By Teletrraph—P rc3B Association—Copyright] Received Oct. 14, 6.5 p.m. LONDON. Oct. 13. It is officially announced that an agreement has been reached among the British. Australian and New Zealand Governments for Britain’s purchase of the wool clips for the duration of the war and one clip thereafter as far as is not required for domestic consumption. The agreed price is lO jd sterling per lb for Australian and B.Bd for New Zealand. Each Dominion shares equally with Britain any profit made by resales out-ide the United Kingdom. Other details are still being discussed. 3d ABOVE LAST YEAR’S AVERAGE THE AUSTRALIAN PRICE REPRESENTS INCREASE OF £12,000.000 Received Oct. 15. 6.30 p.m. SYDNEY. Oct. 15. Confirming the completion of negotiations for the acquisition of the Australian wool clip, the Prime Minister, Mr. R. G. Menzies, said the basis agreed upon by the British Government assured to Australia an advance of more than threepence a lb. compared with the average of last year, representing an aggregate increase in the Australian wool cheque of £12.000.000. In other words, the woolgrowers would receive 13.4 per lb. Australian currency compared with 10 3-Sd in Australian money last year. Mr. Menzies added that the position of the neutral countries had been under sympathetic consideration and he anticipated that arrangements would be made to enable normal trade to be carried on. Representatives of the woe.’growers expressed the opinion that the price Britain was paying was in all circumstances fair and reasonable —indeed, as much as they had expected. FARMERS’ ATTITUDE PRICES FOR LAMB AND MUTTON IMPORTANT [ I'er Press Association ] WELLINGTON, Oct. 15. Provided the prices for lamb and mutton were satisfactory, he thought farmers would be satisfied with the price announced, said the president of the New Zealand Farmers’ Union (Mr. W. W. Mulholland I in an interview by telephone from his home at Dartield. Canterbury, to-night. In sterling the price announced from Londo.. would represent another 25 per cent in New Zealand currency, making >' round 12id. This as he understood it. would be the average price over the whole of the New Zealand clip, but the range would be according to quality. Of course. lamb and mutlo.i were important constituents of the sheepfarmers’ return and would have to be taken into consideration along with the price of wool. If prices for these were satisfactory, then the farmers would probably be satisfied with that for wook It had to be kept in mind that no margin was apparently being allowed for possible rising costs, and if these did increase the wool price might not be satisfactory. The actual price paid for each lot would be appraised on the quality and condition of the wool, sc that it was important as ever for farmers to give careful attention to skirting, classing and general get-up of clips. Any slackness in these respects woulo result in depreciation of the price paid