SUSPENSE PAYMENT
ADDITIONAL WOOL RETURN DROP IN PRODUCTION (By Telegraph.—Special to Times) WELLINGTON, Friday That the 5 per cent of the purchase price of New Zealand wool for Britain held back as a suspense account is likely to be available for distribution to growers is indicated by the wool appraisal figures already available. The purchase price of *New Zealand wool is 12.25 d net. The relative prices for various qualities of wool were agreed upon by a representative body of producers, brokers and others interested. Difficulty was experienced in working out a schedule, and to provide for any adjustment 5 per cent of the price was placed in a suspense account. There is every indication that the New Zealand wool clip this season will be at least 8 per cent less than that of last year, which was a New Zealand record of 921,000 bales. The reduction this year is due to the extremely adverse seasonal conditions in the first half of 1939 and the severe weather in late winter.
The drop in the production of wool will offset to a large extent the improved prices this season. In the aggregate, however, the pay-out is expected to be still above that for 1938-39.
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Bibliographic details
Waikato Times, Volume 126, Issue 21081, 6 April 1940, Page 6
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203SUSPENSE PAYMENT Waikato Times, Volume 126, Issue 21081, 6 April 1940, Page 6
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