PRICE OF BREAD

Ashburton Guardian, Volume 70, Issue 12, 25 October 1949, Page 4

PRICE OF BREAD

TRIBUNAL HEARS CLAIM FOR INCREASE (P.A.) WELLINGTON, This Day. * Tribunal to-day concluded the Shearing of an application by the New Zealand. Federation of Bakers and Pastry Cooks for an increase of Jd in the prices of loaves up to 21bs in-weight, decision being reserved. ' -To-day’s editing was occupied with a reply by the Federation’s representative,. Mr H. M. Rogerson, of Auckland, to the case presented by the Director of Price Control, Mr H. L. Wise, on behalf of the Price Control Division. Mr Rogerson submitted that the division had failed to make an industry-

wide survey. Its efforts, he said, were of very little value compared with the survey presented by the Federation. Mr Rogerson added that the federation’s evidence completely refuted Mi Wise's statement that “a number of proprietary bakeries in the larger centres are operating at a fairly satisfactory profit, and in some instances at a substantial profit.” The average taxfree profit for seven large companies considered was 2.3 per cent, calculated on book values, with no loan capital included, said Mr Rogerson. From this the companies had set aside the necessary appropriations for substantial shortages in replacement funds, and for emergencies and contingencies. it these allowances were made from the miserable return of 2.3 per cent., said Mr Rogerson, it was. obvious that theie would be a minus quantity left for the shareholder.