THE PURCHASE OF PICOTS

Hawke's Bay Herald-Tribune, Issue 23, 11 February 1937, Page 6

THE PURCHASE OF PICOTS

-Press Association.)

No Information Yet From Government PARLIAMENT FIRST

(By Telegr&ph-

• WELLINGTON, Last Nlghty , No further information concernia* the purchase and operation by the Gov] ernment of the produce-diatributingj business of Picot Bros., Ltd., i* to. b*| made public before Parliament. meets,i according to an intimation hy th« Prime Minister t* the execntivo of th« Associated Chambers of Commerce to4 day. The secretary of the association r*»j ported that the Prime Minister hadj been advised that it was felt to be t| matter of considerable public eoncernj for full information to be given prion to Parliament assembling, because th« State would be taking the business overj this month, and Parliament would not be meeting until August. The Primejj (Minister had been thanked for his ad«!i vice that the business would operatel "under exactly the same eonditions'* as private competitive eoncerns, and! had been asked whether this meanty that the business .would also pay in*' come tax. The association was particwj 'larly concerned regarding the point on the proflts arising from the businessd |for the reason that if the eoncern wer« pfficiently conducted at obst, that mustj jOventually spell the elimination ef prL yate competitive units. Consequently, the association had nrged that the aint Of the business should be to show • rean sonable amount of profit on the eapital invested in it, and had asked for an assurance that this would be the objective. "The comments and opinions ef yourj organisation have been noted, and thel (whole matter has sgain been givsn: ■careful consideration," said th* Prime! Minister in his reply. "I regret I axtt unable to depart from the deoidon ij conveyed to you in my letter of Decem-* jber 24. A* intimated, the whole matteri iwill be placed befoVe Parliament at a! puitable date, when all eonditions of the (purchase will be discussed, togethei) jwith the Government** policy in xela^ jtion to food distribution on the jkical toarket."