DISPOSAL OF GOODS

Bay of Plenty Times, Volume LXXVI, Issue 14757, 24 August 1948, Page 2

DISPOSAL OF GOODS

“DEADLINE DATE” NOT PRACTICABLE

VIEWS OF BUREAU OF IMPORTERS

(P.A.)

Auckland, today

Any introduction of a ’"deadline date” after which goods would have to be sold at a price based on tie new rate of exchange was described as impracticable in a telegram seal by the Bureau of Importers to tie Minister of Industries and Com', merce, Mr Nordrneyer. The reason given was the different rates of stoci turnover in various classes of goods, The telegram stated that the bin.' eau considered that the only safe factory basis of any price adjust, ment resulting from the exchange rate would be actual landed cost on new shipments carrying the reduced exchange rates. Merchants and re. tailers could not carry a reductiono! 20 per cent on stock landed at tig old rate of exchange when the pro. fit margins allowed them by th Price Tribunal were only 5, 1\ and 10 per cent. Out of this margin, wages and all overhead charges had to be paid The bureau considered that trade as. sociations should be consulted beta any announcement was made.