GAMBLING IN PETROL

Evening Post, Volume CIX, Issue 43, 20 February 1925, Page 2

GAMBLING IN PETROL

DETRIMENTAL TO INDUSTRY

POSITION IN NEW ZEALAND,

A suggestion that petrol is being regarded in some quarters in New Zealand as a •speculative medium and not as the essential commodity it really is, waß made to a "New .J2 ca ] and Herald"' reporter by Sir Robert Waley, Cohen, manSnt Ur^ r °fthe Shell Trans'P°rt and <sZ' vvho arr, ived #the &*£»■& Kr aSh? rtvisit'to the Dominion. knowledT, fwT 1? ifc had **" * his S, 8, tdealel's wre teing induced to take over quantities, o! petrol by. statements to. the effect that prices jyerc likely to move, and he made iSr that th lS practice w aSi detrimental *o adequate and' regular distribution and I menace to the proper development of a, SspoSil^o^ll6^"^'^

: Sir Robert said'he found a most exre^rd-"^.? 08! 0'!, 'm- New Z^nd^n n??Mi f.V 6 011 in that the public of this country, were being induced to speculate in petrol prices It ■owned.lo.lum that this: was \ moßt danU'*"E.^, .«* wl damaging not only to the business itself but to the organised , petrol distributing .system throughout the country. ■ To 8 introduce TUt "T"- l 1118"1^ of this kind the practice Of giving "tips" to the public as to supposed probable falls or rises of WKI t£T '■"% reducin S a business' vital to the welfare of every country » a oS e-le^- Q£ a mble- T^e engaged in this practice would sooner or later burn their fingers/and he thought it,a. most disturbing feature. . t"v hs*S m, ade $mv bu s'ncss in Aiistraha and, New Zealand,". added ; Sir Kobert, sparch out the transportation needs, of these countries and have endeavoured to help the British Imperial UU Company to serve thu serious transportation requirements, so that just as in the Home country thews may be developed in New.Zealand, a steady economical system of distribution which will bring to the motor industry its most vital need—petrol as cheap as the world market price wM .permit. Instead,- I find tftat the industry is disturbed by this speculative spirit of adventure, which it it continues, may eventually result in petrol being dearer in New Zealand than in any other country. The efficient and cheap distribution of petrol demands the expenditure of very large capital sums, and the great oil organisations will certainly not feel encouraged to undertake this until, the oil business in New Zealand is reduced to a serious plane.. •■ "The forces which : make for the rise and fall of petrol markets are so vast that even those whoße lives are being spent m an endeavour to cope with them would never venture to make a prophecy as to when the market ; may rise or fall. Apart, therefore, _ from the ' hindering effect of this practice :of gambling in petrol, I fear that it is likely to discredit the_ trade, and sooner or later to bring serious losses to those upon whose financial strength and consequent efficient service the channels of trade between the importer and the consumer depend." : Sir Robert Cohen said He > had noted the Government of New Zealand had determined upon a very'wise policy of creating good roads. With the building olf :good roads would come the creation of a wider system of distribution, and nothing would hold back this development unless it be the inefficient organisation of tfte!petrol distributing system. His company was spending very large sums in. Australia to establish this system to' keep paco with the steady development of good roads: there, and it was for this reason that he was so much disturbed to find that trade conditions in New Zealand threatened to hinder the application of these' not_ unscientific methods to the same problem in the Dominion. ';■■'■'