THE CEMENT TRUST

Hokitika Guardian, 5 October 1921, Page 3

THE CEMENT TRUST

HON LEE REPLIES. | TO Mil MASTERS’ CHARGES. : (Our Parliamentary Correspondent.) "WELLINGTON, Oct. o The Minister for Industries ami Commerce matle hi* reply to the allocations of >lr Masters (Stiv:ford) regarding the operations ot cement trust. He traversed tbo ti. nsactions of the companies and Hoaitl ol Trade at considerable leant,i, and insisted that thorn had been no restrain .of trade and no unfair t.eaiment ot the pul,lie. The shortage id cement last vear had been due to a sboni.ee o coal.' The Hoard ball exercised nil control of prices and supplies, ami Ur done its best to meet the "«**£ 1 essential industries, lbc local i n cement bad never r.sen m Uii in ices in other countries. Ibe text ol the agreement made by the three foment companies had been coructl\ stated to the House by Mr Masters, but the deduction drawn from it bad not been justified. The agreement was „„t illegal and it was not " Xeiv Zealand law did not prohibit ci mmerciat trusts and did not imnalir" them, unless their prices were unicasnunblv .high. There was ii„ el idem of unreasonable prices >" * '.s He read a letter Horn Mr Lultri.ll nlips The cement companies bad not made big profits. The Company Cml took over Golden Hay works bad been intertsted in securing supplies < ; ine.it for building; purposes am u U. . never cot anv dividend at all. * "creeme.it between the companies bad i.p ell intended to meet the conditions created bv the financial stringency, and it bad not prejudiced the pi.bbe >" w r, S ' i eo added that arrangements »ooia li fc » f,,n ,’ v “ ™'(irSu‘c“ctl M. L-mie-ferpoees to himself were entirely inS£SST NO such threat bad been made. ..m -—r-