PROFITEERING BILL.

Taranaki Daily News, 16 August 1919, Page 5

PROFITEERING BILL.

POWER TO LWESTIOATB PRICBa ,»i ..." ' i By Telegraph.—Press Ann,—Copyright ' London, Aug. It. * Replying to complaints in the House of Commons that the Profiteering Bill < did not touch wholesalers and speanlators, Sir Auckland Ocddea accepted an , amendment empowering the Board of Trade to investigate prices at all stages, Sir Auckland Geddes accepted the principle of a further amendment en- } nblin;? the Board of Trade, without • ' waiting for a complaint, to declare % . • price which would vield a reasonable '.': pro At or fix the maximum wholesale ? r , and retail prices.—Aus, NJZ. Cable Assoc. f THE FRENCH WAY. { Received August 13, 1 a.m, , '{ Paris, Angntt 14: \ The drastic action of the leagues iof • 1 consumers is having unexpectedly sertav ', ( results. Many retailers are abutting '- (, ! their shops. Wagon loads of perishable 1 goods are being returned to the alrjedy' ■ congested depots.—'Aus.-N.&. Cable JUpn. < i ' ■ » NEW SOUTH WALES PROPOSALS. i > PROFITS ON IMPOSTS. , '' The anti-profiteering proposals of the ■ New South Wales State Government will be laid before Parliament early in the session in the form of a BDL* The ~J vital principle underlying. them fe;ttie' jig control of prices of imported article*. It"'™ is accepted that the deflation-of »fe,.;;'{« prices will automatically affect the 18l "'• -manufacturer and wholesaler of iSffi,' '.' articles, and obviate a more Mfju' ' system of regulation. 1- - There will be no price-fixing (a '' { ordinary sense of the word. Prices * be controlled by prescribing the a»|rifl' lri * mum percentage of profit that may file charged by importers and mdentoTß lnkm . nny article, upon the basis of the landed '~' cost, x ' i ' Although it is understood tbat'ttly Hie direct importer or indentor of the goods will be dealt with in the Bill, many large retail houses will be affected, as they import direct. But the principal aim of the measure will be against the wholesaler and distributor of imported articles. The Government has received information concerning inflation of prim of ' ' imported articles which, if comet, dra- u matically illustrates the profiteering ttet is going on in this direction. To quote i one instance—miles of a particular■tfß.'' f J tile material are said to have beeaUW* obtained by wholesalers at 3%d a wML ,° and sold wholesale at Is 2d a yard-* ,- '■ profit to the wholesaler of over 270 § per cent- *yf It is said that {here ia a convention m the wholesale distributing hooaas $ which is rigidly disciplined, and arranges prices. Wliether the system of a maximum ' ) percentage of profit will be extended to r '< retail distributors ig not yet certain. j On the one hand it is stated that the js retailers are often the greatest offenden: -*£ QU. hand- it fc.* e » that than l| TOBM 'admit the prices if they were ■ * freed from profiteers above. '» The Governmenfe propoiali will be * placed before the party meetings shortly. 3 They will be supported bv the claim >£j that they represent the minimum interv • IM ference with the bugineas intereats and %? the maximum effect that could be ©fc. tamed in an immediate deflation of " prices. It is pessible that the Federal Govern. ment will lend its co-operation to tb< - State in enabling the latter"* officers t< '' check landed costs. ■,' INTER-STATE COMMISSIO*' PROPOSALS. The report of the Inter-State Commission on the subject of price regulation, made last December, is particularly interesting in view of the State Govern' . ment s proposals. The commission then reported to the Federal Government jIf it is desired by the Government to take action for the regulation of the prices of clothing, then, in the opinion ' of the commission, the conditions now existing in the various branches of-the trade justify the following detailed an*. gestions: "1. Locally manufactured goods: Prion to be controlled by prescribing the foilowing maximum percentages to be added to prime cost," representing actual cost or materials and wages, (a) Tweeds and serges 30 per cent (oj Blankets and flannels 25 per cent (c) Hosiery and knitted goods Wner cent. *^ fi ) ,st lt , luii,,2 2%Ptreent % Wholesale distributing ware- *. houses: Prices to be controlled by pre- - ecnbing a maximum of 22J per eent r ''* to be added to cost landed in warehouse '"' of all materials for clothing and of all articles of clothing. . • ,'$ "3, Retail distributors: Prices to be '& ngtraJM by prescribing a maximum of ' I J j3i per cent, to be added-to cost JandedC ■«T ! - m warehouse or shop of all materials'- -'" or clothing and of all articles of clothing. *"" "4 That in regard to wholesale and - (A retail distributors, such limitations of . I gross profit shall not apply to businesses # in connection with which the total '' *"■ moneys actually employed in the bust* ' ness do not exceed £SOO, ' ' "5. That resales be restricted, with a ■ % •view to the prevention of transactions .» " which do not bring the goods nearer to /i tho consumer. , „* f o ,low ]nff suggestion; which g U 'ls not directly related to control of oriel* «i is also submitted: . !>■- 'jj| ■_ "That, iri'the public interest, action.' ' M be taken to bring about the eoropulsorv • ,'M keeping by all traders of prea*ltedl«d." "'M ing accounts, profit and h#Wmto, •' •■ 1 and balance-sheets." ' w "™"™'