Page:United States Statutes at Large Volume 54 Part 2.djvu/1260

 54 STAT.] GREAT BRITAIN-AUSTRALIAN WOOL-DEC. 9, 1940 United States Government and any loss incurred by the Gov- ernment of the United Kingdom by reason of depreciation in the value of the wool stored in the United States as a result of deterioration of the wool or by reason of the position in which the wool is stored in the United States, provided that (a) in the case of sales in the United States no payment shall be made which would reduce the receipts by the Government of the United Kingdom for the wool in question below the amount which would have been received on sale f. o. b. Australia at the same date, and (b) in the case of sales outside the United States any payments as between the two Governments shall not involve the Govern- ment of the United Kingdom in any net expenditure of United States dollars in respect thereof. (5) It is tentatively agreed that the 250 million pounds of Australian wool which will be made available by the Government of the United Kingdom for the reserve shall be composed of the following: 270,000 bales of 58/60s of types normally imported into the United States and of good topmaking Bradford styles; 290,000 bales of 60s and finer of types normally imported into the United States and of good topmaking Bradford styles; 190,000 bales of 60s and finer of good to average Bradford styles; balance (to make up 250 million pounds) of 60s and finer of average Bradford styles; two-thirds of all the 60s and finer wools to consist of 64/60s. The counts are as normally understood in the United States. Although this tentative agreement on grades and types is sub- ject to modification following consultation between the two Gov- ernments after examination of samples of the wool by the United States authorities, it shall become definitive if the examination of samples indicates that the grades and types of wool included in the above mentioned general categories are such that they could be readily used in American mills without interruption of or delays in the production of the mills. It is understood that the Government of the United Kingdom in estimating the quanti- ties available for the reserve have provided for the retention of sufficient supplies in Australia to ensure that the commercial de- mand can be met. It is also understood that both the total quan- tity estimated to be available for the reserve after providing for sales abroad and shipments to the United Kingdom, and the dis- tribution by types and descriptions, have been based upon the results of the 1939-40 clip, and that should the results of the 1940-41 clip differ it may be necessary to vary the supply for the reserve. (6) Space on established British shipping lines running be- tween Australia and the United States shall be used for the trans- port of the wool so far as available. The wool will be made avail- able in Australia as rapidly as possible, provided that the sale of wool from Australia on commercial account or its shipment to the 2481

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