IMPERIAL WOOL
£8,000,000 PROFITS. HELD AGAINST POSSIBLE LOSS. MR MASSEY DISSATISFIED. By Telegraph—Special to Times. WELLINGTON, Tuesday. Answering'a question regarding the Wool Realisation Fund, Mr Massey suit! the Imperial Government was holdbig New Zealand wool, for which £22, 000,000 had been paid; it was also holdil.g a credit of £8,000,000, being profits in the sales of wool that bad taken place during the last 18 months. The Imperial authorities took up the position Unit the loss on the remaining New /.•aland wool would equal this £8,000,000, and that, therefore, there would I •• nothing coming to the producers in this country. lie was not satisfied with what was taking and was exchanging cablegrams with the Imperial authorities, but was not willing at present to lay the correspondent,' before members. He was anxious that the British Government should hold the £22,000,000 worth of wool as long as pi ssible to permit of the sale of free wool, and also to allow time for the market to improve. If the market improved laid" the New Zealand producers would be entitled to some share of the £8,000,000.
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Bibliographic details
Waikato Times, Volume 94, Issue 14615, 16 March 1921, Page 5
Word Count
183IMPERIAL WOOL Waikato Times, Volume 94, Issue 14615, 16 March 1921, Page 5
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