PROFITEERING.
SMITH FINED £IOO. Wellington, April 12. ' Bertie Smith, a grocer, clmrgc-d wiri: profiteering in selling Mellins- rood at 3s 9d a bottle, a gross profit of '>4 per cent, was fined £IOO, and £7 cos--. In giving judgment. Mr Page. •"•.J.. said that tho price charged by defend ant for the bottle of Mellins’ rood represented a profit of 04 pier cen«. upon the cost. It was not easy for the Court to say what was a reasonable rate of commercial profit in rcepcct to any particular goods, but he thought the ultimate test mu3t be the rate of interest that the handling of the goods would produce upon the capital inverted in the business. After making procistou for the proper outgoings and contingencies, the magistrate said he based his. decision as above on the bslan-e sheets relating to defendant’s business put before the Court.
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Bibliographic details
Otaki Mail, Volume XXVIII, 14 April 1920, Page 3
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146PROFITEERING. Otaki Mail, Volume XXVIII, 14 April 1920, Page 3
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