FLAGRANT PROFITEERING.

Taihape Daily Times, Volume XI, Issue 3445, 26 March 1920, Page 5

FLAGRAN T PROFITEERING.

TI‘II_.ECTRI(‘. LAMP COMBINE.

BRADFORD “WOOL LORDS. ’ ’

LONDON, March 13.

The report of the sub-committee which inquired intoiprofiteering in the electric lamp infistry finds the existence of a trade combination, including 90 to 95 per cent of the industry, Which Controls the factories and the retailers, fixes the prices at all stages, and regulates th-c output. ' The report considers the standard vacuum lamps now sold to the public at 3/ could be sold for 2/ and still leave a satisfactory Worlging profit. The report also finds that trading discounts are considerably higher than necessary, and should be reduced. It further states that 1,250,000 half-watt lamps, sold to the public in 1919 at 12/6. were pu.rc.li'ased in Holland "by the Trust at about 3/ each, which would have left ample margin of profit if sold at 8/. The report finds the possibility of an international iicombine, comprising British, Dutch, and American manufacturers, dominating the prices over a. considerable part of the world, and recommends that the operations of the existing combination should be subjected to public control. _ . 4 “What is the use of having a War if nobody is the. better for‘ it,”.said one of Bradford’s 20 millionaire “Wool lords” in the‘ course of an interview with the 'corr"espondent .of_ the Daily" News, a.t Bradford. He argued that he. could not help nlaking'lligll profits. “If; we had not made them._somebody else would,” he‘ added. “ _Lahour members of the Official Wool Committee urge the prosecution of the profiteers, but at present. it seems improbable that anybody will be punished. The correspondent adds that influential membe'rs'~of the committee are trying to hush up the facts and defend the manufacturers. Labour nlembers_ threaten to resign and start a ‘campaign of exposure.