PRICE OF PETROL

Wairarapa Times-Age, 21 July 1939, Page 3

PRICE OF PETROL

QUESTION IN THE UPPER HOUSE. HIGH DIVIDENDS MENTIONED. (Bv Telegraph—Press Association.) WELLINGTON. July 20. ‘•The Government is anxious to see that petrol is made available to the public at as low a price as possible, taking into account all ’relevent considerations, and everything possible will be done to see that the public secures that measure of protection to which it is entitled," said the Leader of the Legislative Council, Mr Wilson, in replying yesterday to the following question asked by Mr McCullough (Canterbury). “Whether the Government’s attention has been drawn to the annual report of the Associated Motorists Petrol Company. Limited, wherein it is stated that dividends to preference shareholders are held at 10 per cent, absorbing -C 12,992, and ordinary shareholders this year receive a dividend of 150 per cent (25 per cent a year ago) absorbing £37,700;’’ and if so will the Government take such steps as may be necessary in the public interest to deal with the unreasonable profits derived from such trading.” Mr Wilson said the Government was aware of the position disclosed in the balance-sheet of the company. Inquiries had already been instituted regarding the whole matter, and the Government had fixed both the wholesale and retail prices of motor spirit under the provisions of the Motor Spirits (regulations of prices) Act. Mr Wilson added that he would take the matter up in the proper quarter.