HIGHER EXCHANGE

Evening Post, Volume CXV, Issue 40, 17 February 1933, Page 8

HIGHER EXCHANGE

ANOTHER EFFECT

MILK COSTS MORE

LOSS TO DEPARTMENT

"Can the chairman of the Milk Committee tell us what the; effect of the 25 per cent, exchange will be to his department?" asked . Councillor ' W.J. Gaudin at last'night's meeting of the City Council." ' Councillor "W. H. Bennett replied that the management had estimated that it would make a difference of about £500 a month to the department, but the committee had decided, after taking everything into consideration, that the department should not make any difference in the price to the consumers.during the remaining part of the summer period. The department would, stand the loss. ' .... . ■■'.'..■'.. Councillor C. H. i Chapman, M.P., suggested that the Mayor should obtain a return showing the effect of high exchange and sales tax upon all departments. If there was,going to be a difference, of £500 a month in one department the total effect would possibly be large. Mr. Hislop said that already he had the figures aa relating to interest payments, but departments would be affected in other ways as well. He took it that the additional £500 cost to the department per month was brought j about by the increased price of butterfat. The officers of the various departments would be asked to present re-j turns as concerned their departments.;