TRUSTS CONTROL

Evening Post, Volume CVI, Issue 32, 7 August 1923, Page 4

TRUSTS CONTROL

TO PREVENT UNFAIR PRICES.

Legislation is to be introduced into the !New South Wales Legislature to deal •with combines and trusts. Mr. Bavin ; '(Stato Attorney-General) reports that a lmmber of complaints had come before l>im < recently as to the formation and operation of combinations and trusts, •which, jt was alleged, had been.formed in various industries for the purpose of unduly enhancing the price to the public.

"I express no opinion whatever," added Mr. Bavin, "at the present time as to jtho 'justification of this complaint. I have already made it clear that legislation has actually been drafted for the purpose of dealing with combinations of,the kind referred to if on investigation it is proved they are acting detrimentally to the public. It was osly because of the urgent pressure of business at the last session that.this legislation has not already been, ■passed.' 1' '„ " 'Asked whether the proposed legislation i-would deal with combinations already in existence, the Minister replied that it ■would apply to any combination whenever formed.

"It would be quite a mistake," he continued, "for any person to think that he would be in a better position to evade legislation of this kind by the formation of a. combination before the legislation v/as actually passed. "The Government is perfectly sensible to the advantages that sometimes arise i from the elimination of cut-throat competition between traders. This legislation certainly would not penalise reasonable attempts to stabilise industry and to assure to those engaged in it a reasonable return on their capital. The Government is sensible to the grave dangers that arise to the public from the attempts that have unfortunately been made in the past to combine, not for. the purpose to which I hav e referred, but for tlie purpose of extorting unreasonable prices frpnt the public. This the Government is.determined to prevent."