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Wednesday, 1 September 1920

Mr FLEMING - I desire to ask the Prime Minister, in regard to the dividends of the Wool Pool, a further and rather technical question, which perhaps he may not be able to answer off-hand. Has it yet been decided whether all wools soldup to the declaration of the dividends under or above their appraised prices are to participate in those dividends ?

Mr HUGHES - If a man sells a bale of wool at a flat rate of 15½d. per lb., and that particular wool is appraised at 8½d. per lb., where is the profit?

Mr Fleming - I had better give notice of my question.

Mr HUGHES - The honorable member said it was a technical question, and I may be wrong, but I cannot see where the profit in such circumstances would arise. If a man sells a bale of merino wool, which is valued at 72d., and the appraised price is 45d., then he will get half the difference between the 45d. and the 72d. But if the appraised price is, say, 8d., and the actual selling price is 10d., so far as I can see there is no profit.

Question resolved in the affirmative.


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