HIGHER PRICES

Waikato Times, Volume 127, Issue 29241, 11 October 1940, Page 7

HIGHER PRICES

POLICY OF GOVERNMENT RATIONING OF SUPPLIES “In the merchandise section of the | company’s business difficult trading I conditions have been experienced I during the past year. Many commodities have been in short supply | —even essential lines—and in a numJ ber of instances we have been forced to ration supplies,” said Mr I Edkins in his address to sharej holders. “This applies particularly to fencing and baling wires, and to a lesser extent to galvanised iron and piping. “Import control and Government restrictions (many quite unnecessary even under war conditions) are hampering business in almost every direction. Even where overseas manufacturers are willing and able to supply, the Reserve Bank will not make available the necessary funds. It would appear that the import control authorities are out of touch with the Dominion’s needs. ! Increased primary production, which is so necessary to further New Zea--1 land’s war effort, is being retarded. : and I submit we have a right to assume that a Government continually declaring the need for increased ; production would have a sympathetic <and skilful understanding of what is necessary. “Higher prices must continue to prevail, and in no small measure shorter hours, higher wages and Government interference are contributing to this result. “We have endeavoured during the year to maintain the same high standard of service as hitherto, even * though a. number of our staff have

already volunteered for overseas service. I can only express the hope that the management, despite many difficulties, will be able to maintain this standard. Satisfactory Shipping Year “A busy and satisfactory year has been experienced in the shipping department. My usual review of. shipments and destination of cargoes, however, cannot now be given owing to war regulations. “Sustained effort on the part of those responsible and the added support of shareholders and customers have enabled us to maintain the satisfactory earnings of the insurance department,” lie added. New business has to be sought to replace inevitable changes, and enquiries for fire, accident and marine cover are. therefore, always welcomed. We hold the chief agency in the Waikato for the New Zealand Insurance Company Limited, so are well placed to offer the «best possible service in matters of insurance. The prudent farmer takes no unnecessary risks.”