H.—3B

8

The contract prices paid for fellmongering have been as follows : — Ist January, 1917, to 31st December, 1919 :— Fellmongering .. .. . ■ • ■ 2-|d. per pound on weight of wool. Curing pelts .. .. .. .. .. 3s. 9d. per dozen (casks extra). Ist January, 1920, to 31st January, 1921 : — Fellmongering wool — 48/50's quality and upwards .. .. 2|d. per pound on weight of wool. Other qualities .. .. .. • ■ 2|d. per pound on weight of wool. Curing pelts .. .. .. .. •• 4s. 6d. per dozen (casks extra). Stocks op Wool. The following table shows the stocks of wool held in New Zealand on behalf of the Imperial Government at the 31st March, 1921 : —

Surplus Wool Profits. The first and second contracts for the purchase of wool by the Imperial Government—namely, for the 1916-17 and 1917-18 greasy clips, provided for the return to New Zealand wool-growers of one-half of the profits made on wool sold for other than military purposes. The third contract, which covered the purchase of the 1918-19 and 1919-20 greasy clips, contained the same provision, with the addition that the same amount per pound of wool would be returned to New Zealand wool-growers as was returned to Australian wool-growers, the sum paid, however, not to exceed the profit actually realized on these New Zealand clips. The accounts to the 31st March, 1919, prepared by the Imperial Government, showed an amount due to New Zealand wool-growers of £1,619,069, and this sum was transferred to New Zealand and was distributed, less cost of distribution and a flat rate of income-tax of 3s. 4d. in the pound, to wool-growers pro rata to the appraised value of the wool of the 1916-17, 1917-18, and 1918-19 clips purchased from each. Of the amount received, £19,644 was set aside to make a similar pro rata payment on wool of the 1916-17 clip forwarded to London for sale prior to the commencement of appraisement in New Zealand of wool of that clip, and purchased in London by the Imperial Government on the same basis as the purchases were made in New Zealand. Later communications from the Imperial authorities show that the proceeds of these consignments were not included in the accounts rendered, and the Imperial Government has agreed to make a further payment on these wools from its own share of profits. The balance of £19,644 has therefore been invested pending any further payment of surplus profits which may accrue for distribution after the liquidation of the unsold stocks of wool. SHIPPING. Very great efforts were made during the year to effect & clearance of the freezing-works before the new season under free trading-conditions commenced. The delay owing to labour troubles in opening the freezing season extended the opportunities for lifting Imperial Government meat, and when the season commenced on the 2nd January, 1921, stocks of Imperial meat in freezing-stores for which shipping-space had not been allocated amounted to only 977,202 freight carcases (60 lb.).

Greasy. Stationscoured. i Station Siipe. mentscoured. Govern- -^^ sTpt Total. \lerino Halfbred 50/56's to 58's Fine crossbred 46/48's to 50's . . Medium crossbred 40/44's to 46's Doarse crossbred 36's to 40's Bales. 2,161 19,538 58,259 107,238 4,921 Bales. 823 919 705 213 4 Bales. 57 47 100 109 4 Bales. 1,806 3,648 15,050 28,681 566 Bales. 287 560 7,777 10,231 1,997 Bales. 8,231 25,903 14,025 1,043 Bales. 5,134 32,943 107,794 160,497 8,535 Grand totals 192,117 2,664 317 49,751 20,852 49,202 314,903