FLAGRANT PROFITEERING.

Taranaki Daily News, 27 March 1920, Page 3

FLAGRANT PROFITEERING.

ELECTRIC LAMP COMBINE. BRADFORD "WOOL LORDS." London, March 13. The report of the sub-committee which ■'iquired into profiteering in the electric "up- industry finds the existence of a ■de combination, including MO to 95 • cent, of the industry, which controls 1 factories and the retailers, fixes the ices at all stages, and regulates the .it put. The repoTkconsiders that the standard vacuum lamps now sold to the public at ■is could be sold for 2s and still leave a I satisfactory working profit. | The report also finds that trading discounts are considerably Tiigher than necessary, and should be reduced. It further states that 1,250,000 half-watt lamps, sold to the public in 191(1 at 12s Cd, were purchased in Holland by the trust at Ibout :is each, which would have left an ample margin of profit if sold at Bs. The report finds the possibility of an international combination comprising British, Dutch, and American manufacturers, dominating the prices over a considerable part of Ihe world, and recommends that the operations of the existing combination should be subjected to public control. "What is the use of having a war if nobody is the better fo£ it?" said one of Bradford's twenty millionaire "wool lords" in an interview with the correspondent of the Daily News at Bradford. He argued Jhat he could not help making high profits, "Jf we had not made them somebody else would," he added. Labor members of the Official Wool Comimittee urge the prosecution of the profiteers, but at present it seems improbable that anybody will be punished. The correspondent adds thai influential members of the committee are trying to hush up the facts and defend the manufacturers. Laboi members threaten to resign and start a campaign of expos-