§ 44. Mr. GOULDasked the Secretary of State for War whether, seeing that his Department acquired the 1918 and 1919 Australasian wool clip at 10d. per 1b. plus 60 per cent., or a maximum of 1s. 4d. per 1273 lb., and that the wool is being sold in this country by the Wool Controller at an average of 2s. 6d. per lb., if the cost of freightage and insurance together with administration costs take up the difference; and whether the Department has shown a loss on its operations?
§ Mr. CHURCHILLI am informed that the Australasian wool has up to the present been sold in this country at fixed issued price, based on clean scoured weight. The average selling price of the greasy weight is estimated to be substantially below 2s. 6d. per lb. The Australian valuation prices include 848 separate grades, and owing to the great volume and complexity of the business it has not been possible as yet to ascertain the results of the first year's trading. During the War period, transport charges were very heavy, but a moderate profit will probably be realised on the small proportion of the wool sold for civilian trade, though the selling prices were much lower than those ruling in the United States and elsewhere. A reduction of 7½ per cent. on the issue prices has been announced to take effect from April 1st, but the greater part of the wool will from that date be sold by auction in free competition with privately owned wool.