COST OF LIVING

Dominion, Volume 12, Issue 98, 20 January 1919, Page 6

COST OF LIVING

WAR YEARS A TIME OF HIGH PROFITS,

AUSTRALIAN COMMISSION'S REPORT

By Telcerapli-PreßS Association-Copjrisbt Melbourno, January 18.

A report of an Inter-State Commission on the prices of fruit and vegetables says.that Sydney is far behind other States and countries in grading and packing, which showed that unmistakable carelessness and absolute deceit still exist to a discreditable and damaging extent. Loose repacking of fruit is also seen. Some dealers filled four , cases from the contents of three. There was no evidence of high prices being the result of combines, but there was evidence of the- fixation of the prices of potatoes and onions by a body of merchants, which had doubtless caused needlessly high prices. Reporting on the clothing trade, the commission finds that tho war years have been 'a time of high profits. In 1914 profits averaged 13 per. cent., while in the next three years they ranged from 25 to 39 per cent. The total capital of 22 manufacturing firm.s in 1914 was £1,440,000, and their total net profits for the following three years were £1,197,000, or an average of 331 per cent. Several other similar instances of abnormal returns are given The report comments on the methods adopted to camouflage these high profits, and adds:'"lt is much to be regretted that (the greater proportion of tho excessive profits were derived during the period .when the trade was engaged in supplying material for clothing soldiers, and in a period of grave danger and emergency, and when they were acting in'unison." The report makes suggestions for the regulation of prices and profits by the menfc.—Press Assn.