UNREASONABLE PROFITS.

Taihape Daily Times, Volume XI, Issue 3449, 31 March 1920, Page 5

UNREASONABLE PROFITS.

-i .. OVER 100 PER CENT. . sßefol-e tlle'Fair Pl-ofitg. Conlmi.~'sion at Melbourne ’evidence' was being given ‘by’ J. H. Martin, manager of the dress and silks department of Richard Allen‘ and Son, Flinders Lane, who wrote down for the priV"ate‘inforn’la-’ tion of the Commission ’ the prices charged by his firm for tWeed'manuf2lCTll]'€d at Marrickville, Sydnye. _-Ulter looking at the figures the chairman said: “Your firm, instead of taking 2. normal profit on these goods, has taken a much larger rate of profit than it has on imported ones.” Witness: We have to counterbalance the small profit on imported tweed. You never can tell when the market Will break.

The chairman: You bought Marrickville tweed at 6/6 and you sold it at 13/6, 21 profit of more than 100 per cent," "We think that_ quite unreason-. able. The Commission proposes to bring the principal of your firm fbefore itVi"ln_d'er section 8 of the Necessary Conrmodities Act". We shall declare your prides to be unreasonable, and will consider what acfion should be taken. The Commission also desires to offer a suggestion to- your principals that they and you should re-mark These goods at a reasonable aclvance on cost. If the advice is not taken the (Yommission intends to investigate the matter further, and instead of bringing your firm here on one complaint will bring it here on a series of complaints.