SERIOUS CRISIS PRECIPITATED

Dominion, Volume 12, Issue 248, 14 July 1919, Page 5

SERIOUS CRISIS PRECIPITATED

».—_ , RESULT OF JUMP IN COAL PRICES STOCK EXCHANGE AFFECTED 6y Telegraph-Press Associatlon-CoDyrighl London, July 11. The electricians have already discontinued tho preparatory work for tho peace celebrations. It is estimated that as tho result of the increased prico of coal, steel will cost another 30s. per ton;' gas will be dearer by Bd. per thousand feet; paper will «o up by 5 per cent.; and motorcars will average .-CIOO dearer. ' The' increase in the prico of coal has caused a general weakness on the Stock Lxchange.-Aus.-N.Z. Cablo Assn. [ PEACE ILLUMINATIONS ABANDONED (Rec. July 13, 5.5 p.m.) London, July 11. The Government's peace illuminations have been abandoned, owing to the attitude of the electricians.—Aus.-N.Z. Cable I Assn. | REASONS FOR THE INCREASE A YEAR'S ESTIMATE. (liec. July 13, .5.5 p.m.) Lontfon, July n. Tho Board of Trade has issued a White Paper explaining the increase in the price of coal. The Board of Tf.i« statesthat the estimated deficiency on the working of the coal industry for one year from July 16 will bo .£16,600,000. Tho year's output is estimated, at 217,000,000 tons, less 8,003,000 tons for consumption at the collieries, 6,000,000 tons'for the miners' use, and 32,000,000 tons for bunkers, leaving 161,01)0,000 over which tho deficiency is spread.—Aus.-N.Z. Cable Assn. ACUTE CONCERN ABOUT FOOD PRICES STATEMENT BY FOOD MINISTER London, July 11.- . The Food Minister (Mr. G. 11. Roberts) is acutely concerned about prices, though ho is' not apprehensive regarding supplies, Ho suggests that a Council of tho European Allies should replace tho" oxpiring Supremo Economic Council. Europo cannot expect that America can any longer control home prices for the benefit of European consumers. ■ Mr. Roberts says that no price- can be considered safe, and the prospects for 1920 are not bright.-Aue.-N.Z. Cablo Assn. MEAT TRUST METHODS . UNITED STATES COMMISSION'S REPORT. Washington, July 11. The Federal Trade Commission, in reporting'to President Wilson on tho meatpacking industry, states that a virtual : monopoly of international scope has resulted from the operation of five of the chief packing companies in the United States. The domination of the food market by the monopoly js imminent unless it is controlled; and a score of other important industries are likely, through the by-products being in their hands, to fall under the control of the-packers.—Aus.-N.Z. Cable Assn. THE FOOD RIOTS IN ITALY LOCAL AUTHORITIES FIX PRICES (Bee. July 13, 5.5 p.m.) Rome, July 11. The Government, having empowered all local authorities to fix prices, all the Mayors immediately reduced the. prices of clothes, boots, food, and other articles used for general consumption by 50 per cent.—Aus.-N.Z. Cablo Assn. v FUEL EXPERT'S VIEW ' DEAR COAL A SERIOUS MENACE. (Rec. July 13, 5.5 p.m.) London, July 11. Professor W. Bons, the;, fuel expert, de-c-lures that he is afraid to express his real views lest he be considered an alarmist, "but," ho says, "if dear coal becomes permanent, England's industrial supremacy is doomed, and her commerce and trade will be irretrievably injured. Cheap coal has been the magnet which attracted to Britain the raw material for the metal, cotton, and wool industries. The American output ;of coal for 1917 per worker is 770 tons, while tho British is 210; the former is still increasing, whilo the later is diminishing.—Aus.-N.Z. Cable Assn. THE PROBLEM IN FRANCE IMPORTANT DECISIONS TAKEN. (Ecc. July 13, 5.5 p.m.) Paris, July 11, M. Clemenceau had several conferences with Ministers in an endeavour to. solve the problem of high prices. Important decisions were taken.—Aus.-N.Z. Cable Assn. A MOUSTACHE STRIKE. (Rec. July 13, 5.5 p.m.) Paris, July 11. The Government. has appealed to tho railway and postal employees to refrain from a general strike on July 21, Tho hotel and" cafo employees have struck. Tho waiters demand an eighthour day, tho minimum wage, and liberty to wear moustaches.—Aus.-N.Z. Cable Assn;. PARIS ECOWC.COUNCIL RIVAL PROPOSALS CONSIDERED. (Ecc. July 13, U.-io -p.m.) Paris, July 12. "Lo Journal" elates that the Economic Council is consuiering rival. proposals, the first demanding tho protection of industry, enabling the transition period and its difficulties to bo overcome, and (ho second urging "Free-trade ns circumstances necessitate, that tlto country might'bo flooded with goods. It is understood that It. Clemenceau will favour the lattor.—Aus.-N.Z. Cable A.ssn.