PANIC BUYING.

Ashburton Guardian, Volume 61, Issue 49, 7 December 1940, Page 4

PANIC BUYING.

MINISTER CAUSES A RUN.

SILK STOCKINGS IN DEMAND “If we don’t take the position in hand and ration the goods we will all be sold out of silk stockings before Christmas, and as we are on quotas for these things we can’t get any more till January or February,” said an Ashburton retailer when approached by a “Guardian” reporter in regard to the rush by women of Ashburton to buy silk stockings following the statement by the Minister of Finance (the Hon. W. Nash) to the effect that women should give up buying silk stockings and turn to fine cashmere hose.

Ashburton shops were rushed throughout yesterday and rationing had to be resorted to as soon as it was seen that the situation was needlessly getting out of hand. Ashburton people who were in Christchurch yesterday stated on tlieir return that tlie-stocking counters at the city shops were besieged with buyers throughout the day.

‘'Mr Nash said the ladies should wear fine cashmere stockings,” the retailer quoted above added. “But he is the man who prohibited the importation of’ these stockings 100 per cent. That was before the war, so he cannot say it is a war measure. The New Zealandmade stocking is coarse and besides being twice the money of the imported fine article they are limited, and they cannot compare with the British lines. “We had to put a ration on silk stockings yesterday because women were buying up the stocks in twos and three at a rate that would have seriously upset the position for later Christmas buying. We can’t buy any more silk stockings till after Christmas. There are only two factories making these articles in New Zealand, and we are on quotas. The Minister made a big mistake when he made his statement about stockings.”

Other retailers held a similar view in regard to the stampede there was yesterday for silk stockings, and held that if purchasers would confine their buying to the extent they would have done under ordinary circumstances there would be plenty for all. Panic buying only meant that most of the stockings bought yesterday would bo hoarded.