THE FALL IN PRICES.

Shannon News, 28 February 1922, Page 4

THE FALL IN PRICES.

TO FOLLOW REDUCTION OF WAGES

' A meeting of representatives oi business, manufacturing, and trade associations convened by the New Zealand Employers’ Federation for the purpose ot bringing about an immediate and general reduction in prices in the event- of the Arbitration Conn deciding in April that- a reduction in wages was justified, was held in ihe Chamber of Commerce, Welling! m, yesterday atleinuon. The official report of the meeting is as under. - There was ja record attendance from all parts of the Dominion. A series of resolutions were subm'iled, designed to give effect- to this, obwet, and unanimously carried. Many dei-> gates explained that the organisations they represented had already on their own instance, made the necessary preparations.

“In some cases it was pointed out that owing to die ex train’d in ary slump prices of ceriain services and commodities had already fallen below Rio cost oi production; and that any decrease in the wages paid would not counterbalance this. In these cases, however, it was felt that the gene ral- reduction in prices oi services and commodities brought about by giving effect to the above policy would inevitably tend to minimise such loss and would hasten reduction in these cases also.

“All present concurred in the view that a universal reduction in prices was the only way to ensure a re-es-tablishment of trade on a sale and prosperous looting and to obviate tinemployment, it was emphasised ttiat a reduction in prices would mean that no reduction in the money rate ol wages would he felt, ndr would it entail any loss of purchasing power.” THE BONUS QUESTION. PARTIES TO BE HEARD BEFORE FINAL ORDERS.

Christchurch, February 24

The Arbitration Court proposes to make a general pronouncement on the bonus question on receipt of certain information from the Govern ment Statistician, which is expected to come to hand about the end ol next month.

Following upon this general pronouncement, the parties will be given an opportunity ol being heard before the Court in Wellington before a final

order is made. This hearing will take place, prob-

ably-towards the end "of - April ("and any general order made by the Court wit loperate as from May 1.

FLAX INDUSTRY COMPROMISE

ON WAGES QUESTION.

Foxton. February 25

As a result of ihe stop-work meeting of flax workers to consider die it) per cent wages -reduction and die subsequent meeting ot employers, it is probable that a compromise acceptable to belli parties will be cf footed. The stoppage of the mills at the present time would inflict great hardship on a number of families.