iso THE SHEEP AND WOOL INDUSTRY 



Therefore 



Tops = Q/ioths = 21-6 pen.ce = Value of tops in I Ib. of scoured product 

 Noils = i/ioth = r6 = noils 



lo/ioths = 23-2 pence, 



representing the true value of the scoured product. The buyer 

 estimates what the greasy or raw wool will yield, which, for 

 example, we will put down at 50 per cent. 



m 



BUYERS AT WOOL SALE, " RIALTO," MELBOURNE. 

 Therefore- 

 True value of scoured wool. Estimated yield of clean scoured 



23-2 pence 



50 per cent. 



100 per cent. 



= 1 1*6 pence, 



this being the value of the greasy wool. 



Buyers in Australia have to deduct from this price the cost of 

 freight, buying commission, insurance, broker's delivery, etc., 



