HARD TO CATCH.

Auckland Star, Volume L, Issue 221, 17 September 1919, Page 10

HARD TO CATCH.

EXPLOITERS OF THE PUBLIC. (Ey Telegraph.—Parliamentary Reporter.) WELLINGTON, Tuesday-. "We allow a large body of exploitere to get away with huge protits, then we start a stern chase and find Wβ are too j clow to catch them," declared .Mr. Anstey; in a pessimistic vein during the discussion on the Board of Trade Bill. Hei feared that the bill did not jret down to j the root of the trouble. There was an | enormous amount of profiteering taking place tiy investors which the bill appar-| ently could not touch. They could makeover 100 per cent- and invest it in tax j free -war loan?. In fact, he knew of a: company which made ll.i per cent. It paid 15 per cent, dividend, then watered j its capital s=o as to enable the share-j holders to get another 100 per cent. Sir John Findlav: What conipauv is that? Mr. Anstey: 'Til tel you privately. It t= a fact, because I'm :i shareholder— (laughter)—but unfortunately only a email one.' . The member suggested that encouragement of co-operative concerns ■was an effective means of checking profiteering, but instead of encouraging them they were more heavily taxed than other concerns.